Contract drafting is a multi-faceted and complex process. Document collaboration, contract authoring, contract negotiation, the establishment of terms and conditions, and other relevant steps can be challenging if organizations are relying on manual tools. Leave emailed collaboration, local file storage, manual tracking of multiple contract document versions, manual clause tracking and clause storage, and other error-prone and tedious contract drafting methods in the past by embracing robust contract management software.
Clause libraries have proven incredibly useful for advanced legal operations and contract lifecycle management – if appropriately implemented. Unfortunately, your organization can mismanage your clause library with antiquated technology, manual clause tracking and clause storage, and the lack of an expeditious way to leverage clauses during contract authoring and contract negotiation. Luckily, you can supercharge your clause library with user-friendly and robust contract management software. Here's how.
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 Your organization can scrap these outdated methods in favor of something better.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.
Simply put, document editing and document collaboration can be a nightmare - especially as they apply to contract management. Manual and outdated document editing methods often require lots of moving parts - including various emailed communications about numerous document edits, frantic scrambling for relevant clauses, and convoluted procedures for document version tracking. These processes can easily lead to lost document edits, erroneous clause language, and scattered and misplaced versions. As a result, your organization could unfortunately experience missed contract tasks, delayed contract authoring and contract negotiations, and deleteriously incorrect contract clause language - which could jeopardize your organization's legal standing, reputation, and financial standing. Leave these damaging and antiquated document editing methods in the past in favor of user-friendly online document editing with CobbleStone Software.