It’s not unusual to find contracts are often managed without true diligence or governance – holding companies to costs, product and services that no longer provide best value or purpose. Often there is no central repository for key contracts; no clarity on who is managing the life-cycle of a contract; no system in place for strategic reviews and tendering as contracts end dates draw near; and no figures pulled in for competitive comparison. These lapses represent a huge lost opportunity.
e-Contract Management or ‘Contracts in the Cloud’ allows users to:
- Access documents easily. Contracts are scanned and uploaded to ONE central repository – this is password protected but can be accessed by those with authority from any office or device with a browser.
- To insert tags such as department, product, service etc can be added to each record
- Once uploaded within the contract management software, the system identifies who is responsible for each contract
- Contract database is searchable by value, suppliers, start and end dates etc
- Contract management software creates notice periods for reviews of critical dates
- Automated email alerts are sent at intervals to named individuals responsible for each contract
- Always ensuring contracts are managed in structure time frames, with total control
- Providing visibility and easy compliance with auditing and head office requirements
It’s all very simple – but without e-contract management software such as Contracts in the Cloud creating structure and automating alerts to critical contract dates, contract management can get chaotic very easily.
Please Contact Us to discuss how we can help you with your Contract Management challenges.
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