Control and oversight of the organization’s contracts is a huge part of the role of the legal team. Both in-house and external counsel spend too much time trying to limit ad hoc changes to approved templates and halt risky contracts created by business units. Before Precisely, virtually every contract was a potential drain on the scarce time and resources of the legal team. Too often this resulted in tension between the objectives of the organization’s legal and business functions.
Precisely removes this tension by delivering a solution that makes legal control and compliance easy through automated workflows and user permissions. Giving the lawyers more time to focus on the more complex and strategic tasks instead.
By allowing business units to be self-serving, while seamlessly staying within legal-approved guidelines, Precisely lets you improve internal efficiency and reduce workloads through extensive automation of previously manual processes. It’s also friendly on your team’s budget.
Precisely aims to achieve the same goals as you do — to make contracting safe and efficient.
Every legal counsel knows that contract management can be incredibly time-consuming! Precisely makes sure that you won’t be stuck copying and pasting for hours. Instead, you can manage your organization’s contracts centrally by setting up a database of pre-approved automated templates. By setting up your automated templates in the Precisely platform, you can let anyone create compliant and consistent contracts in a matter of minutes.
Furthermore, you can streamline the entire contract creation process, not just the drafting. By using Precisely, you can control changes to contracts and who gets to make them by setting user-level permissions. With them in place, you can automate the workflow and approval processes and increase compliance while you’re at it.
Precisely makes contract management easier by keeping all of your organization’s contracts together in one secure place. The centralized cloud-based repository is accessible via an intuitive dashboard. This provides you and your team with a clear overview of important information regarding your contracts, including signature status, expiry date, important deadlines, and which contracts are awaiting approval.
Furthermore, your digital archive is, of course, fully searchable. Precisely’s smart search and filtering ensures that you can always find whatever you’re looking for in an instant. From anywhere, at any time.
With Precisely, you and your team can take control of the whole contract lifecycle. Set up smart reminders and receive alerts for any event. The monitoring features let you stay on top of all actions that need to be taken in relation to events such as a contract expiry or renewal.
With the integrated and legally binding e-signing feature, you can reduce the signing time from weeks to as little as hours or even minutes. And depending on your choice, documents can be sent for signing only after the automatic approval processes that you’ve defined are completed.