SharePoint Contract Management
Contract management systems help businesses quickly create, approve and finalize contracts, keep contract documentation accurately and securely stored, and effectively track the execution of contract milestones.
At ScienceSoft, we create powerful, user-friendly and cost-effective contract management solutions based on SharePoint that fully automate a contract’s life cycle, which helps support obligation management.
And here’s how exactly SharePoint can transform your routine contract management:
ISSUE
Time-consuming contract creation
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FIXED
Fast and effective contract generating due to reusing contract templates, as well as typical contract clauses and fields
ISSUE
Legal wording inconsistency
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FIXED
The boilerplate language throughout all contract documentation
ISSUE
Disjointed contract storage
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FIXED
A central repository for storing and managing contracts
ISSUE
Slow contract finalization
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FIXED
Integration with e-signature software, which accelerates contract finalizing
ISSUE
Lack of contract management after a contract’s finalization
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FIXED
Tracking a contract’s life cycle until all its obligations are fulfilled and contact retention as required by compliance regulations
ISSUE
Security and compliance risks
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FIXED
Protection from unauthorized access, easiness to find, track and report on contracts
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#1 Rich Feature Set
A tailored SharePoint contract management solution can provide a set of features suited specifically to the subtleties of your business processes.
- Contract templates
- Clause libraries & saved fields
- Guided contract creation
- Contract co-authoring
- Search
- Alerts and notifications
- Access control
- Versioning
- Reporting
- Integration with enterprise systems like ERP, CRM, BI, CPQ, AP and smart technology like machine learning and AI
- Hierarchical approval workflows
- Parent-child contract hierarchies
- Compliance check
#2 Consistency with Your Industry Specifics
As the one-size-fits-all approach won’t work for contract management, a SharePoint contract management solution can be tailored to the specific needs of various industries, for example:
- Healthcare: easy creation of reusable templates for various types of contracts (e.g., payer, patient, clinical trial, corporate sponsorship); HIPAA compliance; reduced medical error due to loss or duplication of contracts.
- Legal: document digitization, fast contract search and review, secure content sharing and automated reporting
- Retail: tracking the fulfillment of contract obligations, automatic contract renewals when needed, accelerating contract execution and business transactions.
See SharePoint Contract Management in Action
Check our interactive demo to see how SharePoint facilitates creating, approving and sharing contract documentation.
IT’S HIGH TIME TO IMPLEMENT A CONTRACT MANAGEMENT SOLUTION
Don’t lag behind and start your implementation project right now if you want to leverage the following benefits of SharePoint contract management