Introduction to Contract Management

Introduction to Contract management

Contract management is the process of managing contract creation, execution and analysis to maximize operational and financial performance at an organization, all while reducing financial risk. Organizations encounter an ever-increasing amount of pressure to reduce costs and improve company performance. Contract management proves to be a very time-consuming element of business, which facilitates the need for effective and automated contract management system.

Contract Management Software

While the tradition is normally to manage contracts manually through folder and file cabinet storage, the practice is riddled with inefficiencies that can only detract from an organization’s overall efficiency. Integrating with an automated contract management service will help free up countless man hours and automate countless processes associated with managing a contract, thus creating more value for a company.

High-level features of CMx - Contract Management Software

Simplify your enterprise Contract Life Cycle Management (ECLM) Process with below features:

1.  Enterprise Level Configurations

   a. Organization Provisioning

        i. Company Profile

        ii. Location Provisioning

        iii. Department Provisioning

        iv. Staff Provisioning

        v. Role & Permission Provisioning

        vi. User Groups Provisioning

2.  Contracts Configuration & Extensibility

     a. Contracts Settings

    b. Contract Level Security Permission

3.  Contract Repository

     a. Central Contract Respository for Managing Contracts and Document Attachments

     b. Search & Advanced Search

          i. Sub-second Response with Millions of Contract Records and Content types of files attached with contracts.

      c. User Defined Custom Fields

      d. Configurable Custom Workflow

     e. Internal & External Reviews

      f. e-Signature

      g. Contract Types

      h. Custom Contract Templates

4.  Collaboration Features

      a. Collaborate and author contracts

      b. Internal Review with  Team Members

      c. External Review with Subject Matter Experts (SME) and Lawyers, keeping track of every change on the go.

5.  Analytics & Reports

     a. Audit Trail

     b. Contract Analytics

     c. User Task Board

     d. Recommended Contracts for Review

6.  Enterprise Scalability & Cost Effectiveness

     a. Leverages strengths of Open Source Stack combined with powerful document authoring and collaboration features

     b. Scalable Design with the latest and greatest technology stacks to provide you the best possible User Experience (UX)

7.  Security

    a. SSL

    b. HMAC Request Level Security

8.  Import & Export

    a. Self Service Import of Existing Contracts using Excel Template

     b. Export Existing Contracts - Administrator

9.  On-Premise Vs Cloud SAAS Version

10.  World Class Support