Have you had to deal with a new a contract lately? Did you have to print, scan or manually sign a document and then save it?
Depending on the size of your organisation you could be dealing with hundreds of contracts every month and doing so without a digital solution in place could not only expose your organisation to serious risk, but waste time and can hamper your ability to close deals.
Contract management is the process of managing agreements from creation through to negotiation, signing and renewal. Not only could there be lots of moving parts though-out, but also a number of different people and departments involved. Add increased contract complexity as well increased volume to this, and you may run into serious problems without an efficient digital solution in place.
What Employees Say:
53% said the biggest challenge in the contract process are approvals
31% of organisations use spreadsheets to manage their contracts
52% said contracts go through three to four versions on average before being finalised
22% said managing renewals is difficult
How DocuWare Can Help
Our document management software means you can digitally manage your contracts and have full visibility at any stage of their lifecycle. Up to 80% of B2B revenue is governed by contracts and so automating processes that remove manual work reduces associated risk, and therefore needs to be a priority for your organisation. If you're signing more than 20 contracts each month, or using Excel and shared drives is too difficult, you need to look at digitising contract management.
The Benefits of Digital Contract Management
Faster - creating a document based on a template standardises the processes and speeds it up, never having to make a contract from scratch again
Searchable - all contracts will be stored digitally and saved in a way that makes them quick and easy to find
Security - only pre-authorised users can access contracts and all information is securely backed up to the Cloud
Support Audits - track who agreed to do what and when they did it, whilst managing any revisions and version control
Create Notifications - automate approval and renewal tasks for any employee ensuring you don't pay for services you don't use when renewals happen automatically
If you're having difficulty managing your contracts then we want to speak with you! We want to understand the problems you're having and talk about how we can help.
Tuesday 5 May 2020
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