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CONTRACT MANAGEMENT AUTOMATION

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Contract Management Automation

Digitizer solutions can help you to automate the Contract management from managing the legally binding agreements from initiation through to execution. Digitizer solutions can handle the administrative and strategic activities depending on who handles which stage. Digitizer customize solutions of the effective contract management helps businesses to improve outcomes and maximum value. Digitizer solutions can keep track real-time record of inception, Negotiation, Execution, Start-Up, Operation, Renewal, & Closeout of the contact.

 +    With manual contract management, any or all of the following are likely to occur:
• Revisions are not controlled
• Staff often use outdated templates and nonstandard language
• Contract routing is haphazard
• Contracts are apt to languish on people’s desks
• Critical milestone dates go by without alerts

Automation mitigates all those issues because it allows for better process control and reduces human error. Contract language is standardized, terms and clauses adhere to preapproved guidelines, and contracts always go where they’re supposed to go. Organizations of all sizes can benefit from automating all aspects of the contract workflow.

ADVANTAGES OF AUTOMATION
CREATION
  • Centralizes core documents
  • Monitors progress
  • Sends status alerts
  • Enables quick searching
NEGOTIATION
  • Flags and alerts for important negotiation deadlines
  • Notifications for upcoming completion dates
EXECUTION
  • Easy access to key data
  • Change management for revisions
  • E-signatures for efficient executive
COMPLIANCE
  • Compliance monitoring to ensure terms are adhered to
  • Alerts when penalties are due

Here’s how automation streamlines each stage:

Creation centralizes the core documents and associated data, guides approval routing, monitors progress, sends email status alerts, and allows for quick searching of contracts.
Database migration moves database files to a new device. This is done when an organization changes database vendors, upgrades the database software or moves a database to the cloud. Databases must be backed up before migrating.
Negotiation automatically flags and alerts the necessary people about important dates related to negotiations, such as when a revision is due and notifies appropriate staff of upcoming completion dates.
Execution ensures that all documents and data can be easily accessed. Change management features enable quick modifications while ensuring everyone is working with the latest revisions. Signing is made easier via e-signatures.
Compliance Monitors contract compliance to ensure that all parties adhere to contract terms. It also maximizes allowed revenue by alerting when penalties are due.
Please contact us to design an excellent solution customized for your organization.
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