Contract creation is a multi-faceted process. Without the proper procedures, your organization can suffer from increased risk, drawn-out contract lifecycle times, and missed opportunities - among other deleterious consequences. Contract documents and data stored on spreadsheets, email servers, and shared drives alone can result in lost contract documents and versions. Back-and-forth contract drafting via email can result in slow collaboration times and unclear document versions. An inadequate clause management process can result in the wrong clauses being included in contracts and missed opportunities. Wet contract signatures can result in long send-to-sign times and costly postage expenses. What's more, risk can increase, resulting in lost revenue, data leakage, lawsuits, and more. Fortunately, you can leverage contract management software to avoid sending your contract creation process into a tailspin. To that end, here are six ways contract creation software can improve your contracting process.
Contract creation management plays a vital role in the contract lifecycle, where contract contributors band together to form a cohesive contract. However - inefficient contract creation management can stem from unorganized contract templates, obsolete contract language, and subcontracts divorced from original contract versions. Read on to discover how leading contract management software can help streamline contract creation management in three steps.