Although an essential facet of running a business, managing contracts without a contract database can be a time-consuming headache. With so many different contracts with vendors and service companies, it can be challenging to keep track of them all without reliable contract software. The right solution can help you reduce the amount of time you spend searching through spreadsheets or shared drives so that you can work on growing your business. Here are just a few of the ways that a formal contract database can help your team maximize productivity:
When reading magazines, advertisements, or even this blog post our brain begins the process of recognizing the patterns that make up the characters. Our computer is able to do the exact same thing. Image-based documents can be converted into a language the computer understands for it to be able to read the document we need it to. This is where the Optical Character Recognition (OCR) tool comes into play. An OCR tool should be simple to use within a business software system that, in the long run, can save a company time.
Contracts are a part of doing business. Whether we're referring to a contract with a supplier, an employee, or a business partner, every single contract must be created, recorded, and stored. Before automated contract management software became a viable option, businesses, education institutions, and other organizations had to rely on filing cabinets and other means to store these contracts.
Demolishing filing cabinets, ripping out drawers, rummaging through mountains of papers, and scanning your calendars for expiration dates - I’m sure you’ve managed to lose important documents because there was no organization. It has probably caused you a great deal of stress.
Imagine all of your contracts being stored in a singular place – with no problems.
With Contract Insight™ Contract Management Software, this is what you are given.