Yup, you fit the bill all right: You’re the perfect candidate for powerful contract management software. That’s right: There is a document management system out there that organizes and controls your records for you. No more paper pushing; no more coffee stains; no more approval ambiguities and deadline debacles.
How do you find the right contract management software for you?
First, know what you need:
How you answer those questions is important, so take a few seconds to think about them. Your answers determine the type of contract document management system that best serves your unique contract needs.
What kind of contracts are you dealing with?
1. Lots of contracts with lots of variables.
If you create a large number of contracts that vary dramatically, but need specific clauses included in each one, then you’re better off selecting a pure contract management solution.
These systems are designed specifically to create and manage contracts – nothing more, nothing less.
2. Standard contracts with consistent templates.
If your contracts are more standardized, you should look into more robust solutions with tools for document management, workflow automation and process improvement.
These solutions are more robust, incredibly flexible and typically cost less than dedicated contract management software.
What should you look for in a contract management system?
Regardless of which scenario best represents your system – lots of variation or more standardized templates – your solution should have a few essentials:
The right contract management software keeps all your contracts at your fingertips, automatically alerts you to upcoming renewal opportunities and streamlines your approval process. Selecting the right contract management system may take a little brainstorming on your part, but when you’ve landed that perfect solution that meets your unique needs, you’ll be glad you took the time to find it.
For more advice on choosing the best contract management software for you, and then maximizing the solution once you’ve found it, register for DocuVantage’s Contract Management Process Automation Webinar.