Sales Contract Management Software
A sales contract is a legal document that outlines the obligations of both buyers and sellers during a transaction and must be ideally managed using the best sales contract management software. Sales documents are important not only in the case of litigation but also as a means by which both parties can review a sales’ terms. Sales contracts will vary dramatically depending on what is being sold and the responsibilities of the parties involved. However, all sales contracts should include information about both buyers’ and sellers’ expectations, and both parties’ lawyers should review the contract before it is signed.
Let’s know more about the sales contract management software.
Like having an insurance policy for contract managers everywhere because it warns you when a renewal is on the horizon. Imagine the relief when team members can say with authority the moment a contract needs to be renewed and measured? Oftentimes this just isn’t the case. However, by setting up pre-conditioned alerts you can be notified in advance of renewals so contract amendments no longer have to be cringe-worthy.
Keeping up with Amendments
Administrators are able to manipulate documents and upload renewal templates to the database with real-time results. For the Sales Contract, there’s no need to start from scratch, simply attach updated sections to your existing contract, and a version control number will be assigned to the transaction. New team members can be added and legal departments can be updated at this time as well. We make the day to day workflow that much easier with the easy to use contract renewal and amendment phase.
Have a Contract Ready for Retirement?
If the contract has reached the end of its life-cycle, but you want to maintain it within your database, the administrator can then retire the contract and still access details same as your other contracts.
Don’t Let Contract Renewals Get Away from You In the world of contracts, deadlines equal penalties if you don’t meet terms and conditions. But with the gets to alert the right people at the right time when it’s time for a contract renewal. If only life were that easy however. Oftentimes, renewals may require amendments to the original clause in the form of additional legal documents and Statements of Work (SOW). Workflows become complicated and difficult to keep up with. However, using the these amendments are easily tracked and contained in the centralized portal while adhering to the same approval process as the original contract.
Out with the Old in with the New Imagine trying to keep track of a renewal, plus the amendment and associated audit trails strictly be manual recall? Hours would be lost as e-mails are checked, file servers turned upside down, and notebook pages scattered while trying to piece the workflow together. It’s why so many companies lose sight of contracts in the first place and are subject to penalties. It’s time to say no to missed opportunities and yes to crucial revenue prospects. Your vendors will thank you, your clients will thank you, and so too will the Legal department.