A Contract Management System (CMS) is a software application that oversees the entire lifecycle of contracts, including creation, execution, and management. Beyond contracts, it also handles Service Level Agreements (SLA) and Procurement Master Agreements. Essential features include centralized storage, collaborative editing, and automated approval workflows. The CMS provides tracking, notifications, and insights into contract performance, contributing to efficient and compliant contract management for organizations.
Why do you need a new system because of the weaknesses in the existing system?
- Noncompliance with contracts and regulatory compliance issues.
- Contract standardization and centralization are lacking.
- Inadequate Supply Chain Management.
- Expiry and renewal dates are poorly managed.
- Tools for Contract Lifecycle Management that are subpar.
Who Need?
- Consulting Firms.
- Technology Industry.
- Multimedia and Entertainment Industry.
- Manufacturing Industry.
- HR and Recruitment Industry.
Objectives
- Creating Value.
- Ensuring Quality.
- Managing Productivity.
- Ensuring Compliance.
Key Features
- Dashboard that is simple to use.
- Centralized storage.
- Storage and organization of documents.
- The Advanced Search function.
- Automated Notifications.
- Monitoring and reporting are essential.
- Integration of electronic signatures.
- Quick Start Templates.
Benefits
- Reducing risks.
- Improve auditing.
- Saving time.
- Reducing contract costs.
- Increasing transparency.
- Growth and scalability.
- Optimizing finances.
- Better contract storage security.
- Better document management.
- Easier to share, collaborate, and retrieve.
- Using integrations and customization.
- Boost productivity.
Devices of use
- Computers.
- Smartphones.
- Tablets.
Achievements
- Contract review and execution are being sped up.
- Reduce business risk while increasing compliance.
- Increasing Contract Visibility Through a Single Source of Truth.
- Improve Your Renewals in Less Time.
- Document management with added value.
- Contract Protection and Privacy Best Practices.
