Contract management, especially contract review and execution, are essential responsibilities of Legal teams. Most core business systems and traditional Contract Lifecycle Management solutions only focus on either the procurement or the sales aspect of contracts ignoring contracts' legal risks.
Razor365 is a modern contract lifecycle management solution designed from for the legal teams without compromising on the strengths of traditional systems. It is an integrated platform that helps reduce cycle time, avoid bottlenecks, improve multi-party collaboration, and eliminate risk in the contractual process while enhancing visibility into contractual obligations.
With Razor365, legal teams can ensure the mandatory use of legally approved and relevant contract templates and process-based review of third-party papers with change or deviation tracking, internal and external collaboration, risk scoring, audit trail management, and much more.
End-to-end contract lifecycle management for all procurement and purchase agreements
Enforce company guidelines and essential terms in contracts using pre-defined contract templates
Real-time online collaboration with Business, Legal, Finance, and other stakeholders
Configurable request and approval process with custom forms and workflows
Email workflow and multi-party collaboration
Automated electronic signature via proprietary design framework
Management of key obligations, tasks, and renewals
Integration for downstream processes and contract performance tracking
The advantage of Razor365's Legal Contract Management solution is that it reduces human errors and risks while increasing operational efficiencies. The platform integrates with other technology solutions, including ELM, to minimize legal risk and contractual disputes and improve contractual compliance.
To ensure legal teams are not bogged down with delays and inaccuracies stemming from incomplete requests, multiple revisions, extensive internal and external reviews or approvals, companies should invest in an agile and comprehensive Legal Contract Management solution.
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