Smart and effective management and handling of business processes are critical for every organization’s success. Contract management is one most important area that needs to be considered seriously to grab long term success. Custom SharePoint Contract management solution is created to give businesses an upper hand in handling their contracts in a more effective and streamlined manner. In this blog post, we would like to give you a deep insight into various factors that makes a custom SharePoint contract management system unique.
Efficient and Uncompromising Risk Management
The same contract can have different implications for different teams in the same organization. When it comes to the sales team, they would want to close the deal as soon as possible. Whereas on the other hand, the legal team would like to carry out a thorough review to ensure that liability is minimized as well as compliance standards are met. This may result in conflicts among the teams owing to different goals. With features like a central repository of documents and electronic signature, it will become easier for teams to balance their priorities.
Financial Optimization at Its Best
An efficient Contract Management System eliminates unwanted renewals, curbs legal expenses and the most important benefit improves spend visibility. This helps in retaining a higher percentage of savings. Purchases from approved vendors and at agreed-upon prices reduce “off-contract” spending too.
Better Contract Visibility
With a custom SharePoint Contract Management system, all your files are stored in a centralized repository that ensures optimum compliance. Further, you can also make sure that your team is working with the latest contract templates and clauses. Also, the employees can access the contract documents from anywhere and at any time.
The Contract Management Solution is embedded with DocuSign technology. All you need to do is upload the required document in any format Microsoft Word, PDF or any other format. Thereafter, add the names and email addresses of your recipients, and place DocuSign fields to indicate where they need to sign. Once completed, the recipients will receive a link via e-mail which they can use to access the document.
E-Signature Integration Is Remarkable
Enhanced Contract Speed
Make your transactions super quick and convenient with electronic signatures. When it comes to time-sensitive documents, the feature is a boon. Besides, simplifying the entire process of contract signing not only helps your business but also improves customer satisfaction and retention.
Highly Secure and Maintains Compliance
Contract management solutions with electronic signature capability are more secure as every stage can be easily monitored, and even minor altering/tampering can be detected.
Zero Error Possibility
Paper-based contracts are prone to errors but when it comes to contracts there is no room for error. This is where digital contracts with electronic signatures come in as they can drastically reduce errors. All thanks to the validation process that offers more control over the entire document.
No matter whether you are in the office or out for lunch, easily sign contract documents without any hassle. Easily check the status of your contracts, schedule reminders for important milestones like renewals in just a few clicks and no time.
Reduce Costs and Spend Sensibly
E-signature capabilities and digital contracts help organizations save huge money in term of material costs, shipping labor, efficiency. The costs may seem minimal, but they add up.