Contract Management: Creating Value by Automating the Contract Lifecycle

Looking for quick reference guides or tips to improve your contract management system? Take a look at the articles and tips below.

The automation of the contract management lifecycle is often an aspiration rather than a reality. Once the details of a deal are hammered out and conditions agreed to, the completed contract tends to get put in a pile while you turn to the next set of contracts that need your immediate attention.

If that sounds familiar, then the ConvergePoint SharePoint Contract Management Software may be the method of contract lifecycle automation you’ve been looking for. You may have struggled with trying to create and use tracking spreadsheets in the past, but they always seemed to create more work than they save.

Two of the main features of our system are:

(1) it’s easy to use, and

(2) it’s proactive.

Once you take a few moments to upload the contract and enter the vital details, the system starts working for you. If you’ve already established your rules engine, different categories of contracts will automatically be routed to appropriate personnel for monitoring. As with all of our products, notification emails will be sent out in advance of deadlines and expiration dates.

All you need to do after finalizing the contract is to upload it and enter the details such as parties and expiration dates. After that, the contract becomes fully trackable and searchable. If the review has been assigned outside of your office, you have a real-time dashboard that will alert you to impending deadlines, and inform you if tasks are past-due.

So the next time someone calls you in a panic wondering if a contract has expired, you will have been given email alerts in advance that allowed you plenty of time to decide whether the contract should expire or be renewed. In fact, with the automated contract lifecycle management software working for you, you may get fewer panicky phone calls at least on this topic.

ConvergePoint is a leading SharePoint solutions and SharePoint consulting company with a team of expert SharePoint consultants that specializes in Microsoft SharePoint and InfoPath. 

Through automated contract lifecycle management, organizations witness streamlined workflows, reduced errors, and increased compliance, propelling organizations towards success with our groundbreaking contract lifecycle automation capabilities.