#contractmanagementsoftware

[mydockusaccount]

More and more organizations are looking to improve their agility and collaboration by moving their valuable content from legacy infrastructure to a cloud-based contract management platform. Keep reading to find out how to facilitate smooth contract migration.

[solutionsuggest]

7 Best Contract Management Strategies for Legal Teams, Looking for a better way to manage contracts? Check out these seven contract management strategies used by legal teams.

[razorsign]

How Contract Lifecycle Management (CLM) Solutions Benefit Growing Businesses We understand the challenges that come with running a successful business, especially in the early stages when resources and employees may be limited. However, with the power of technology, you can now overcome these hurdles and propel your business to new heights. Introducing Contract Lifecycle Management (CLM) solutions - the game-changer for small businesses! Don't let the limitations of a small business hold you back. Embrace the future of contract management with CLM, and watch your small business thrive! Book a demo: https://lnkd.in/dXR9WgZ4 #clm #contractmanagementsoftware #productivity

[newgenetechnologies]

eCMS is a Trendy and high-tech Web based Software Application for all types of Contractors in Construction Industry. The Application enables the Contractors to manage and administrate Progress Payment Claims, Certifications and Payment Acknowledgements in a diligent manner within matter of no time over the web, hence benefitting all parties’ right from Main Contractor to bottom line Sub-Contractors without any hassles.

[my-contisoft-technology-blog]

Some Simple Everyday Software Solutions Making Your Work Easy

With the advent of smart technology, mankind has created innovative solutions aiding and ultimately transforming the way work is done every day. In corporate workspaces that require lengthy tedious documentation included in their everyday workflow, software solutions such as a document comparison software can be quite useful in reducing time and increasing efficiency and enhancing accuracy.

 What is document comparison?

Document comparison, also known as redlining or blacklining, is the process of cross-checking a document's new version with its old to identify various changes. It happens as a part of a thorough review process in the legal and financial industries. These changes can be formatting modifications such as changes in font, spacing, grammar or even omission of paragraphs.

A simple example as to how this process can be useful is as follows:

When you prepare a new contract, it is quite normal to send it for a review to your lawyer. When it returns, it might have some revisions or changes included in it. How will you know the additions and subtraction of clauses then? A minor change can mean a big difference in your profit and loss. Comparing both the old and the new document in the traditional way could mean hours of labour with a possibility of error.

To facilitate this purpose, companies have devised a document comparison software. It compares the reference document to the primary document side by side for differences.

Key features of a document comparison software:

 ● A document comparing software delivers excellent accuracy in identifying all the changes done to the document, including insertion, deletion, etc.

● It highlights all the changes, and hence you can easily spot the differences without any hassle.

● Easily compatible, you can compare files in multiple formats, including Pdfs, Word, Excel, or PowerPoint Presentations.

● While comparison and highlighting the changes a good software maintains your data privacy and security.  

 Manage Contracts Effortlessly with Expiration Date Tracking Software

Companies dealing with hundreds of contracts have to keep a tab on not just creation but also their expiration and renewal. Due to the sheer volume, chances of forgetting renewal are high. To make this tedious process more manageable and efficient organizations often take help of expiration date tracking software.

A perfect software solution to easy your contract management. You don't have to follow the laborious process of storing, managing and tracking renewal records anymore. Save time and use it instead in other productive ways!

The software reminds you, and your supplier of the upcoming expiration dates through automatic messages. It also helps you save various items you saved in the solution and send timely reminders for them.

In a short period, such software solutions have become popular due to their high functionality and usefulness. They have made everyday mundane work of checking, editing and revising document details faster and less prone to error.

[procurengine]

The Best Online Contract Management Software

In case you are looking for the best contract management software in India, Procurengine would be a great choice for your business. It holds all legal agreements approved by a legal department and shares them with suppliers. To know more, reach us online.

[sapwms]

With SAP Ariba Contract, eliminate paper and ink from the creation, execution and management of contracts. Automate and accelerate the entire contract lifecycle that stregthens the operational, contractual & regulatory compliance, thus resulting in maximum performance and minimum risks.

[docskiff]

AI-Powered Contract Analytics Software and Review | Smart Contract Analytics

[contraxaware]

How to Set Up Automatic Contract Reminders for Managers

When your team is working remotely, your managers may face more challenges than usual monitoring contract statuses. By setting up automatic contract reminders for managers, however, you can provide your team with complete insight. This is an essential element of your WFH plan for approving and managing contracts. Let them see your contract statuses and keep them informed about the steps that need to be taken next. Follow these steps to get started:

1. Involve managers early in the process.

Often, managers need early insights into the contract management cycle. Your normal process might not bring your contract managers in until further down the cycle. However, this method may cause difficulty for your management team, especially when they're working remotely and not in the office communicating with one another. Your contract management system doesn't just have to provide automatic contract reminders for managers when it's time for them to take action on a contract. You may also want to institute notifications that a new contract has been created and allow contract managers to look over the terms of the contract. 

2. Work with the management team to see when they are most likely to step in. 

Take a look at the places where your management team usually needs to look over contracts. Many of those steps may not normally take place within your contract management system. In fact, your managers may typically simply step into an office or work directly with a team to clear up questions. When you make the transition to remote work, however, your management team may need those vital reminders and notifications to recognize that they're needed. Set up your contract management system so that it automatically provides those triggers and notifications. Set up the same automatic contract reminders for managers in other teams and key personnel in other departments, too.

3. Provide a notification and trigger the correct action each time the contract moves to a new stage.

Your contract managers may normally simply assume that contracts are moving smoothly through their normal stages. But when you make the transition to remote work, your contract management system may need to take care of many of those important reminders. This might include:  Triggering contract scoring automatically.  Contract scoring can help you get a better idea of where your contracts have the potential to pose a danger to your business. Automatic contract scoring will ensure that you do not miss potential risks along the way. Send a notification of those scores to managers so they can make recommendations as needed.  Letting managers know when contracts are approved.  An automatic notification as contracts move through the approval stage can allow the management team to get started on other projects. Automatic contract reminders for managers can also trigger the managerial workflow to take care of other tasks needed to get started on the work for a specific client.  Triggering emails for clients and vendors whose contracts are nearing renewal.  You don't want to miss out on renewing a contract, especially during this difficult period. Failing to renew a contract with a vendor or subcontractor can cause your work to slow down, while failing to renew a client contract may mean that you don't have work at a necessary time. Instead, trigger emails and other reminders that will help you get started on those key contracts.  Offering managers reminders and information when the contract process stalls.  Sometimes, your contracts may sit in a specific stage of the approval process longer than anticipated. Set your contract management system to trigger reminders that will allow your management team greater insights into why the contract has stalled. Automatic contract reminders for managers can also prompt them on what they may need to do to help get things moving again.

4. Offer reminders about each next step in the process.

man working from home to catch deadline of his new project Your management team may know each step in the contract process, from completing those initial templates to ultimately renewing your contracts. Other members of the team, however, may not have the same insights into those processes. Set up your contract management system to offer vital reminders, both to the management team and to the other team members working with those contracts. Consider: When do employees need to loop in a manager?How should employees handle questions about contract negotiations, phrasing, or terms?What is the next step in the contract process? Does it needs to move to a new stage of the approval process, or do you need to do a compliance check on a contract? Who needs to be notified? Including these reminders in the system doesn’t just ensure that your management team has a solid idea of what's going on with each contract. It also provides your employees with the insights they need to accomplish their daily work tasks remotely. Automatic contract reminders for managers streamline those processes and help salespeople connect with your customers, vendors, and subcontractors. 

5. Offer reminders to your management team about contract terms, industry requirements, and compliance needs.

The best managers have a solid understanding of how your business operates. They may also, however, rely on your other employees to provide them with vital insights and knowledge concerning specific processes or requirements. Make sure that your contract management software includes reminders about those vital facts when needed.  Making the transition to remote work may mean rethinking some of the processes you use on a regular basis. By setting your contract management software up correctly, however, you can provide your entire team with the information they need and allow your managers to follow each contract through the process. Sign up for a one-on-one demo to see how you can customize your company’s workflows. Read the full article

[digitalfunnelposts-blog]

My team at Standav Corp built a great tool for legacy contract migration using Cognitive Automation tools and here is a great infographic:

For those who are interested in the document analysis/legacy contract migrations, here is a great link from medium posted by Omni-us:

State of the Art in Document Analysis (Omni: us at DAS 2018)

Last week 3 of our scientific engineers took a trip to Vienna for 3 days to attend DAS 2018 in order to catch up with the most recent…

This is a great area where deep learning is being applied to solve several business problems and a great helper in the digital journey of an Enterprise.

[alaigiselle-blog]

Contract Management Software

What is Contract Management Software?

Contract Management Software or Deal direction in the Direction of contracts and in its contract management applications can be described as a digital version of a filling cabinet. It supports contract lifecycle and the client that cover any procedure that creates, contributes or uses contract information. Successful Contract Management requires an understanding including any measure that uses contract information, generates, or leads 

 The Following are the stages of Contract Management Software if he/she is a non-user:

1) Request

2) Generate

3) Negotiate

4) Approval

5) Execute

6) Search/Report

7) Comply

8) Amend/Review

 1) REQUEST

Following the process, need is expressed by Company users to Legal to Get a contract 

 2) Generate

Legal should get specific or involved to make each and every contract, while it's standard; this is the point.

3) Negotiate

Negotiations start to occur to ascertain what terms and conditions are at the contract.

4) Approval

Revenue is compelling to be accepted, but based on their contract's size, signed and it is going to have to be approved by Legal, stakeholders, executives, each the inner teams and also the client.

5) Execute

Contracts are put into impact and frequently kept in filing cabinets in which they are tough to discover and amend.  

6) Search/Report

Contracts can not be hunted because contracts are found in the filing cabinet and reports can not be conducted. If it is found by you, all contract investigation is done using a potential for error.

7) Comply

Are parties holding up their ends of this arrangement? It takes you a little time and attempts to figure out this has to assess transactions against contracts.

8) Amend/Review

Contracts have finish dates when parties will need to opt to renegotiate, renew, or to allow the contract lapse. These end dates will probably pass undetected, meaning dollars in earnings.

[razorsign]

How should you be preparing for a CLM Implementation within your organisation? What are the key focus areas? These are just some of the points covered in the discussion with Ms. Lucy Bassli, Founder of InnoLaw Group, PLLC and former Microsoft Deputy GC.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐭𝐨 𝐤𝐧𝐨𝐰 𝐚𝐥𝐥 𝐚𝐛𝐨𝐮𝐭 𝐢𝐭. https://lnkd.in/dDbpu47s

#Emagazine#Clm#Contractlifecyclemanagement#Contractmanagement#Contractmanagementsoftware #Clmimplementation#Practiceleague#Pcouncel

[arjun-blr-blog1]

Streamline Your Contract with Contract Management Software

Now it becomes easier to streamline your contract lifecycle process with our effective contract management software. Agaram Infotech designs the software to suit your complex and challenging needs in best ways.