Contract Insights

Successful contract management requires you to embrace a centralized and secure process.  Manual contract management methods - such as filing cabinets for paper documentation, spreadsheets, emails, and disorganized digital storage – won’t cut it.  These methods make it nearly impossible for your organization to maintain version control, keep contracts and data secure, stay on top of key dates and milestones, and enforce contract archiving and retention rules.  Your organization can scrap these outdated methods in favor of something better.  As such, here are the benefits of a secure contract repository within leading contract management software.

Reviewing contract risk can be time-consuming, challenging, and stressful.  Manually assessing risk factors can cost an organization extra time and money while increasing the risk of inadvertent human oversights.  While you can do your best to carefully track risk factors, including negligent clause language, it can prove challenging when dealing with multiple stakeholders and pressing deadlines.  Read on to learn how three contract risk management tools proffered by contract management software can help protect your organization from the risks of poor contract management and, in some cases, your job.

Robust contract data management, contract analytics, and contract data security provide the necessary insights and protection for organizations to cut contract lifecycle times with enhanced control, governance, security, and visibility.  Organizations can transform contracts into powerful, data-driven sources of business intelligence that support contract strategy, contract management KPIs, and goals with the help of leading contract management software.  Here’s how.

If your organization is planning on leveraging contract management software, it is crucial that your team is aware of how to oversee user permissions effectively.  The terms of many contracts necessitate user permissions parameters to be put in place regarding access to contract documents, files, field data, reports, and more.  Manually managing user permissions with methods involving spreadsheets or unsecured folders, access that must be approved or restricted via disparate emails or other decentralized communication, or the nearly impossible task of managing different levels and stages of access as the contract lifecycle ensues can leave your organization at legal and regulatory risk.  Learn how to mitigate such risk factors and more with cutting-edge contract lifecycle management software.