Contract Management Software: Contract Renewals and Amendments

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Don’t Let Contract Renewals Get Away from You In the world of contracts, deadlines equal penalties if you don’t meet terms and conditions. But with the SharePoint Contract Management software your business gets to alert the right people at the right time when it’s time for a contract renewal.  If only life were that easy however. Oftentimes, renewals may require amendments to the original clause in the form of additional legal documents and Statements of Work (SOW).  Workflows become complicated and difficult to keep up with. However, using the SharePoint Contract Management System, these amendments are easily tracked and contained in the centralized portal while adhering to the same approval process as the original contract.

Out with the Old in with the New Imagine trying to keep track of a renewal, plus the amendment and associated audit trails strictly be manual recall? Hours would be lost as e-mails are checked, file servers turned upside down, and notebook pages scattered while trying to piece the workflow together. It’s why so many companies lose sight of contracts in the first place and are subject to penalties. Using the SharePoint Contract Management platform, it’s time to say no to missed opportunities and yes to crucial revenue prospects. Your vendors will thank you, your clients will thank you, and so too will the Legal department.

Vow to Never Misplace another Contract Using the SharePoint Contract Management Software is like having an insurance policy for contract managers everywhere because it warns you when a renewal is on the horizon. Imagine the relief when team members can say with authority the moment a contract needs to be renewed and measured? Oftentimes this just isn’t the case. However, by setting up pre-conditioned alerts you can be notified in advance of renewals so contract amendments no longer have to be cringe worthy.

Keeping up with Amendments with the SharePoint Contract Management Software, administrators are able to manipulate documents and upload renewal templates to the database with real time results. No need to start from scratch, simply attach updated sections to your existing contract, and a version control number will be assigned to the transaction. New team members can be added and legal departments can be updated at this time as well. We make the day to day workflow that much easier with the easy to use contract renewal and amendment phase.

Have a Contract Ready for Retirement? If the contract has reached the end of its lifecycle, but you want to maintain it within your database, the administrator can then retire the contract and still access details same as your other contracts.

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Industries Served

Education

Manage employee and teacher contracts, sponsorship deals, city and state regulations, and partnerships.

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Manufacturing and Retail Industry

Manage supplier and vendor contracts, employee and staff contracts, distribution contracts, and facility leasing and ownership contracts.

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Healthcare

Comply with HIPAA, HITECH, ICD 9, ICD 10, and FDR CFR regulations for contract management, and handle active directory contracts for your organization.

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Financial Services and Banking

Comply with SEC, FDIC, FINRA, OCC, CFTC, and Federal Reserve regulations on contracts, handle employee contracts, and partnership deals.

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Insurance and Employee Benefits

Create and manage employee contracts, improve organizational transparency, reduce risk factors, and mitigate lawsuits.

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Energy and Utilities

Abide by local, regional, state and federal regulations, manage contractor information, develop third-party outsourced contracts, and handle facility agreements.

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Transportation

Comply with FAA, DOT, FMCSA, FRA and FTA regulations for contracts, outline contracts for drivers and vendors, and reduce potential risks.
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CONTRACT MANAGEMENT – BEST PRACTICES

Visit our resource library for industry best practices and how our Contract Management Software has helped numerous clients in your industry.

BEST PRACTICES

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