Contract Insights

In the vast realm of contract law, you'll often hear phrases like "intend to enter," "verbal contract," and "put it in writing." These reflect the nuanced stages of contract creation, fulfillment, and enforcement. In today's fast-paced world, these traditional methods are quickly being replaced by more modern, efficient processes. At the forefront of this evolution is contract management software that employs the power of electronic signatures.

In the bustling business world, the arrival of electronic signatures has signaled a new era in conducting contracts and business relationships. Like a colossal, advanced ocean liner amid simple wooden galleons, the transition from traditional, paper-based processes to digitally powered signing and approvals has not just been about keeping up with the times; it’s been about setting an accelerated pace.

Electronic signature technology has transformed businesses across various sectors - establishing that pen and paper are no longer the zeitgeist of managing contracts and agreements. E-signatures can cut send-to-sign time by up to twenty percent!

It's crucial, therefore, to understand the landscape when selecting the right electronic signature platform. Consider this your nautical chart as we explore the features to look for when embarking on your digital voyage with electronic signature apps.

Contract review is a crucial contract management stage.  Unfortunately, far too many organizations overlook this process or leverage out-of-date methods that can increase unnecessary risk.

Thankfully, we can establish a contract review processes checklist and manage the life of a contract with leading contract management software.  Let’s get started.

What is a digital signature? Is it not the same thing as an electronic signature?

We inhabit an ever-evolving technological landscape in which new and updated terminology and functionality are constantly presented. It can be confusing to know the differences between terms such as the two mentioned above. However, those differences are actually quite simple!

Familiarize yourself with these two terms. Discover how to utilize both eSignatures and digital signatures to establish a process that is:

• secure.
• user-friendly.
• compliant.
• and rapid.

Gathering signatures for a contract or agreement can be difficult without the proper tools. Outdated and slow signing methods can cause signature bottlenecks that delay contract execution. What’s more, high costs for wet signing and postage can decrease your bottom line.

Fortunately, there is a better way. Let’s discuss why electronic signature software within contract management software is awesome for your contract processes.

Gathering contract signatures can be a challenging task, especially when working with multiple signatories in various locations.  Signatures finalize contracts and propel their execution. This highly anticipated step can be delayed with manual processes that include scanning signed documents, emailing scanned contracts, signing with wet signatures, mailing contracts with wet signatures, and reorganizing signed contracts in shared drives - to name a few. Moreover, specific signatures can require notarization, which can further delay the signing process.  Read on to learn how eSignature software within contract management software can make contract signing quick and easy.

The age of legal operations digital transformation continues in 2023, with even more exciting digitization tools for business process automation available.  The more contract administration tools available to legal teams and contract administrators – however – the easier it is to fall behind.  With that said, let’s examine six tips for effective contract management in 2023 to get ahead with contract management software.

An antiquated contract signing process can be exhausting and overly complicated.  However, tedium and headache are not the only consequences.  Organizations relying on paper-based printing, signing, wet signatures, drawn-out mailing times, and costly postage fees are essentially guaranteed to lose out on revenue, opportunity, and timeliness.  But why?  What's so good about a more modern contract signing solution anyway?  Read on to learn about what you are missing if you lack an advanced electronic signature software solution within contract management software.