Contract management definition
The definition of contract management is a system in which one can automatically create, archive and analyze contracts for maximum insights and performance. With this, companies can easily regulate the entire contracting process in one location that all parties can access depending on set permissions. The best contract management software not only saves time and finances, but also eliminates human error while also increasing the workflow and revenue.
Anyone in your team create compliant contracts in detail in minutes with Precisely’s contract management solution. What’s more, you generate contracts by simply creating questions and references based on names, dates and values in a smart questionnaire. No matter what type of contract you want to create, our document template maker ensures you are set up automatically with compliant terms. Since the solution is cloud-based, you always ensure the template uses the latest version.
Unfortunately, the traditional ways of storing contracts in cabinet files result in a lack of control. There are also many contractual events that you need to stay ahead of, such as renewals, renegotiations and terminations. However, you can keep track of these events by using smart notifications. You can also set reminders for any event in the contract lifecycle.
As a result, you’ll never lose revenue due to missed renewals. Precisely’s contract management tools make it easy to schedule reminders. Never miss a deadline again!
Eliminate time-consuming back and forth mailing with e-signing. With the Precisely platform, you can send and sign all your documents faster than ever. In addition, using the contracting platform lets all participants keep up with the status of every contract. Whether the contract has been signed or not. Not to mention, information is tracked and timestamped. This provides you with an overall transaction history. Additionally, you’ll save time and money by never paying for postal services, couriers or printer paper again.