Organizations may be hesitant to move from on-premise to software-as-a-service (SaaS) contract management solutions due to misguided presumptions. Such “myths” can be misleading and discouraging to potential software users, leaving them exposed to contract data loss, contract management software user errors, and the complication of contract lifecycle management process centralization. Conversely, cloud-based contract management software can streamline, unify, and automate legal operations. To that end, let’s set the record straight and debunk five prevailing myths about SaaS contract management.
Myth #1: My Organization Will Deal With Complex IT Operations!
One colossal myth surrounding SaaS contract management solutions is that they may cause a major headache for IT departments. However, one significant benefit of SaaS contract management software is the ease of system management from an IT perspective.
With an advanced SaaS contract lifecycle management software solution – such as CobbleStone Contract Insight® – organizations can facilitate contract data storage, security measures, contract data backup, disaster recovery, encryption, and more. In turn, organizations can dedicate more time and energy toward other IT-related obligations and contract management decision-making.
Myth #2: SaaS Will Complicate Software Version Updates!
Organizations may be hesitant to switch to SaaS contract management solutions because they believe they require valuable IT time and resources to shadow installations and updates. However, SaaS contract management software providers can easily update CLM software systems. Advanced contract management software providers can update organizations’ web-enabled CLM platforms as new versions and updates are released. Furthermore, contract management teams can quickly get started using the most contemporary CLM features and enhancements.
Want to see CobbleStone’s most recent software version release? Watch the video below for an overview of the numerous features and enrichments that CobbleStone® offers.
Myth #3: Say Goodbye to Access & User Permissions!
Industry professionals may be reluctant to switch to SaaS contract management software because they erroneously believe their systems and user permissions configuration will be inaccessible.
The truth is, SaaS contract management software can allow organizations to enjoy robust accessibility of their systems and advanced user permissions configuration. Top contract management software can permit organizations to access their systems from virtually anywhere at virtually anytime on devices with suitable WiFi. CobbleStone Software – for example – offers a CobbleStone Software Mobile App – a key CLM differentiator. The feature-rich app is accessible for Apple iOS and Android devices and lets users easily achieve web-enabled contract lifecycle management tasks on a robust, user-friendly interface.
Furthermore, trusted SaaS contract management software can support easily-scalable user permissions for contract documents, contract data fields, contract management reports and dashboards, and much more.
Myth #4: SaaS Software Will Increase Risk of Contract Data Loss!
Part of some organizations’ frustration with SaaS derives from their perceived lack of ownership over the data or the supposed inability to export it from the platform. However, on-premise (deployed) contract management software solutions can force organizations to rely upon physical contract data backups that are susceptible to failure.
With SaaS contract management software, experts from an organization providing contract management software can easily handle tasks like contract data backups and disaster recoveries for their clients on a web-enabled platform.
Myth #5: SaaS CLM Software = Complicated & Hard to Use!
This myth alone may be why organizations have overlooked SaaS and opted for an on-premise solution. Yet, once a SaaS contract management software system is installed and set up, organizations can easily manage the comprehensive stages of the contract lifecycle on a cloud-based solution with:
- an automated contract request process.
- simplified contract writing that features streamlined merging of contracts with templates from an organization's pre-approved clause library.
- a centralized process for contract negotiation, contract collaboration, and contract approval routing.
- contract analytics and contract data tracking.
- automated key date alerts and notifications.
- comprehensive risk assessment, risk mitigation, and risk analysis.
- straightforward configuration and tracking for specific contract types for a myriad of industries.
- integrated RFx management (including RFPs).
- simple searching and reporting - which can include an ad hoc and custom report designer.
- & more.
Beyond the Myths: Get Started With SaaS Contract Management!
Now that we’ve debunked the myths of moving from on-premise to SaaS contract management software, it’s time to get started with the only solution that features all of the web-enabled contract management software features above and more: CobbleStone Contract Insight.
CobbleStone Contract Insight is an award-winning CLM software suite that is trusted by thousands of contract management professionals. CobbleStone's trusted, seamlessly integrated, web-based CLM software platform streamlines the contract management process with powerful governance, reduced friction, and high flexibility from contract requests to renewals. See industry-leading SaaS contract software in action by booking your free demo with a CobbleStone Contract Insight expert today!