Do you use a word processing tool like Word to write your contracts?
Do you store your company's contracts in computers, internal servers, USB sticks and even riskier in a few office cabinets?
Given this organization and while contracts are the backbone of your business, you may not always know if you are meeting your contractual obligations.
Do you want this situation to change?
Signing contracts to find new suppliers, sell products or services, obtain markets, or recruit new employees is part of your company's daily routine, but it has become increasingly complex for your teams to manually manage more and more contracts within tight deadlines.
You urgently need contract management software or contract lifecycle management (CLM) software.
What is contract management software?
A contract management software is a SaaS software that provides functionalities on the whole contractual cycle (automated generation of contracts, collaborative writing, workflows, electronic signature via API...).
With a contract management software, you can follow the entire contractual cycle of your company from the creation of the contract to its expiration, including its negotiation, signature, execution and possible renewal.
Moreover, with a contract management software, you can automate several tasks such as the creation of summary sheets of your contracts or their archiving which will be done in a dematerialized way.
What are the benefits of contract management software?
Contracts are living documents that must be managed from inception to expiration.
Free up time for legal teams: A contract management software allows the creation of contracts from your company's contract templates or from your co-contractors' templates.
It will be a matter of providing your company's operational staff with templates that can be used to launch the contractualization process and thus free up the time of your legal teams.
Offer a fluid and collaborative contractual experience: Exchanges are centralized in the tool, no more need to resort to emails to exchange.
The "negotiation" stage of the contract is facilitated thanks to a contract management software that allows direct discussion between the parties, so they can comment and make changes to the contract.
Each of the modifications to the contract can be followed by several users, external or internal to the company, in a simultaneous way like a google doc.
Simplify and make reliable the internal validation procedures: The approval stage of the contract is simplified, it is indeed possible to have the document validated by several people thanks to an internal workflow.
The signature of the contract: It can be a handwritten signature or an electronic signature.
These electronic signature tools are now widespread in companies.
With a contract management software, there is no need to leave the software to proceed with the signature.
The software connects to your electronic signature solution via their API such as Yousign or Docusign and the parties to the contract can sign it directly from the contract management software interface.
Optimize the follow-up of contractual deadlines: It is thus essential to monitor contracts to ensure their proper execution and to closely follow the commitments indicated therein.
Thanks to a contract management software, you can follow precisely the dates, the deadlines which appear in the contract. From there, you will be able to program reminders from your interface to make renewals.
Exploit all the data contained in the contract: With a contract management software, you will be able to exploit all the data contained in your contracts thanks to an advanced search engine.
It also allows you to accurately manage your contractual activity thanks to reliable indicators.
What are the different functionalities offered by a contract management software?
A contract management software like Seraphin.legal allows you to do the following:
- Provide a guided and automated contract creation experience;
- Negotiate with several people simultaneously or in a sequenced manner;
- Sign online with your favorite tool (Docusign, Yousign, LexPersona, etc.);
- Accurately track your contractual deadlines (notice, renewal, etc.);
- Archive all your contracts centrally;
- Leverage all the data inside your contracts with an advanced search engine and statistical reports on contract activity.
In short, you and your teams will be able to follow your contracts throughout their life: drafting, negotiation, signing, execution, modifications, renewal or expiration.
Would you like more information about our contract management software? Do not hesitate to contact us!
