Workflow Express

Summary

Contract Management Workflow is an essential tool in building a thriving business. The first step is generally the detection of commonality in agreements and the codifying of this information into company-wide templates. Next comes legal validation of the templates, clauses and business terms. The system's value applies throughout the entire business life cycle, from the drafting of the initial agreements, to managing the approval cycle, automating generation of an audit trail and proactive notifying users of changes and pending contract renewals.

ROI

The benefits of Contract Management Workflow include:

  • Eliminating the cost of storing, finding, dispatching or losing paper documents.
  • Reducing the cost of creating individual contracts.
  • Improving quality and uniformity through the user of standard templates.
  • Reducing the legal cost of validating each contract separately.
  • Reducing the risk of non-compliance with contracts the company has agreed.
  • Automating the process for collecting revenue on support contracts.
  • Eliminating risk of contracts inadvertently expiring and the cost of late fees.
  • Automating the generation of audit trails for regulatory compliance or process review.

In addition, the dashboards and business terms summaries provide management insight into the company's status, progress and direction.

« Performance