Legal Contract Management - Problems and Solutions

The Problem

Unstructured and manual contract requests and approvals

Delay in contract/clause approvals, manual follow-ups, and scattered history

Inability to collaborate with various stakeholders due to manual systems

Slow and  manual contract signing  and execution process

Missed contractual obligations, terms, benefits, renewals, etc.

The Solution

Automated contract type/process linked, template-based and user-triggered contract request forms with rule-based and user triggered approvals

Legally approved contract templates with fallback clause library, email workflows, approval history, change tracking and contract versioning

Online collaboration with Legal, Finance and other stakeholders with email versioning, change and deviation tracking for quicker resolutions and turnaround times

Integrated electronic signatures, electronic stamping, and execution of contracts for a completely paperless process

Searchable contract library with tasks, obligations and other reminders that streamline the contracting process and integrate downstream processes