contract management software sharepoint

Transforming a Limited SharePoint into a Contract Management Software Sharepoint

A lot of organizations around the world that are utilizing SharePoint are frustrated about their daily usage of it. The reason for this is the limited ability of the software of enabling storing the contracts of these organizations to their SharePoint document libraries on their SharePoint site. Unfortunately, that’s the only thing you can do with that software.

Though Sharepoint has been one of the most used software in managing an organization’s contract documents, it shouldn’t be confused with a true contract management. A real contract management is more than just a library of documents of all their contract documents.

A great example of a legit contract management software is CMx ContractExperience. Which enables you to automate all of your contract processes and documents. It has a lot of template for contracts, helps you create legal document mark-ups, and it can basically do anything any legit contract management software can do.

In that sense, what does SharePoint lack? Here are 3 things that you can do to transform a regular sharepoint into a legit contract management software sharepoint.

Step #1 – A “Comprehensive” Display of your Contracts and Contract Artifacts

A legit contract management software is not just like an online storage in which you can store all of your contracts. It should have the full breakdown of your contract together with its artifacts. Some of the artifacts to be considered are tasks orders, addendums, mods, milestones due dates, and schedules in order for these online contract storage to be a legit contract management software sharepoint.

Step #2 – Notifications, Alerts, and Auditing History

Every contract across the globe has an accompanied milestone, cancellation dates, contract action items, deliverables, due dates, and other artifacts that in correlation with a timeframe. For SharePoint to be a contract management software sharepoint.

#3 – Automated Task and Workflows with Complete Details

In every contract agreements, there are bound to be on the approval and review processes, and other workflows of data and information. For SharePoint to be a contract management software sharepoint, it should include an ability to automate and complete all the tasks and workflows of the build stage-gate processes on your contract together with the other artifacts, on the scheduled timeframe it was set. It should also give you the detailed breakdown of every action on it.

With these there in mind, you should able to transform a regular cloud storage sharepoint into a contract management software sharepoint.