Contract automation solutions solve some of the major problems of traditional contracting. Managing contracts across departments is complex – especially since different departments and functions have different drivers and incentives. Your sales team will have ‘more deals done, quicker’ as the primary focus – meaning that they’re driven by being able to create, send and execute on contracts faster. The legal department will prioritize control and legal compliance instead. Increasing control over contract terms and wording is essential to improve risk management. Our state-of-the-art contract automation solution satisfies the needs of both.
Precisely’s contract automation solution lets you manage contracts from end to end and includes functions that your lawyers will trust, and your sales department will love. Create contracts superfast – with minimal error – and execute on the contracts quicker than ever before.
Drafting contracts manually is inefficient, time-consuming and unreliable. This applies even though your legal department has created a set of excellent, legally compliant templates to speed up contract creation. Nevertheless, since the template can be edited freely by anyone, the legal department loses control of the terms and thus can’t guarantee that the contract is finalized as intended, which exposes your company to major legal risks.
Precisely’s contract automation software enables anyone in your team to create compliant contracts superfast – even without legal knowledge. Your contracts will be error-free, regardless of length or complexity. All you have to do is to answer a few questions in a smart questionnaire, and the contract is created automatically with compliant terms. Since the solution is cloud-based, you can always ensure that the latest version of the template is used in every team. In case your management team needs to check-off the contract prior to signing, you can seamlessly activate an automated approval workflow to save time and mitigate delays. Easy as that.
Since our contract automation solution enables your legal team to set rules and processes for sales, HR, finance and other departments to follow, legal doesn’t need to be involved in every deal and can put greater focus on strategically important legal issues rather than shuffling paper.
Once the contract has been created and approved, the signing process is initiated. Manual signing wastes time – a lot of time. The paper needs to be printed, managed, indexed and archived. And your counterparties are located in different cities and countries, which significantly increases the time to signature. More time is spent on administration, fewer deals are done.
We’re in a war against the paper-and-ink regime, and our secret weapon is e-signing. Send your contracts for e-signing to accelerate deal-making, close more deals and onboard new hires quicker than ever before.
On average, ten percent of all contracts in a company have completely disappeared. The reason is simple: contracts are often scattered all over the organization. On top of that, it’s almost impossible to know when to renegotiate, renew, terminate or take any other contract-related action without the help of digital means.
Precisely offers a central cloud-based repository for all of your contracts. E-signed contracts are automatically transferred to the archive, and other contracts are easily imported bulk-wise through intuitive drag-and-drop functionality. With one intuitive interface, you gain instant access to vital information, such as which contracts are signed or not, which ones are about to expire and which ones are awaiting approvals.
Furthermore, you’re always able to find what you’re looking for in an instant. Using the smart search and filtering of Precisely makes locating a document easy. Never lose track of a contract again.