Cloud-based contract management is revolutionizing the way legal teams and other contract professionals handle their agreements. Cloud-based CLM supports streamlined processes, increased visibility, enhanced security, and reduced costs. As the demand for efficient, accessible, and cost-effective contracting processes grows, cloud-based approaches are emerging as the top choice for the job. Let’s explore cloud contract management via a simple, five-point plan to save time and money on legal operations.
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.
In the age of digital transformation, organizations from a vast array of industries are switching from on-premise to web-based SaaS (software as a service) software deployment to streamline business operations. Those using contract management software are no exception. There are times when on-premise (deployed) contract management solutions are applicable. However, on-premise solutions can leave organizations 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, here are some perks of switching from an on-premise to a SaaS contract management software solution.
Managing contracts can be challenging for legal, procurement, and contract management professionals - especially when primarily relying on outdated tools such as spreadsheets, emails, and shared drives. Without leveraging the advantages of online contracts within a leading contract lifecycle management software platform, you can find yourself running into compliance issues and minimizing contract value – among other setbacks. Contract lifecycle management requires careful planning, the right technology, a well-planned contract strategy, and strong online contract management processes. Fortunately, leading contract management software can help streamline your online contract management process flow. Read on to discover five key advantages of online contracts.