Customer Agreement Repository

September 16, 2021

A trade repository containing accurate contract data should be at the heart of any business wishing to become operationally efficient. If your business is already showing signs that Excel spreadsheets aren`t working effectively, it`s probably time to invest in contract filing software. Below are some of the benefits your business can reap by introducing more sophisticated technologies. A central contractual repository should not be used only as a storage centre. On the contrary, companies can use their repository as a strategic tool that helps them get a head start. In this article, you`ll learn why your business needs a contract repository, what its benefits are, and why data fragmentation must be a thing of the past. Concretely, we deal with the transparency, accessibility and accuracy of contracts distributed across multiple sources, all of which increases the overall contract and business risk. Without a single source of truth, companies will not be able to take control of their entire portfolio of contracts and it will be incredibly difficult to find the full value of their trade agreements. As part of a contract, you will usually find the rules relating to the commitment, the contractual conditions and the key dates to be respected for commitments, renewals, terminations and conclusion. In short, all the information you need for a productive working relationship. Eliminate information silos and connect your front and back systems to create a central repository for all aspects of your contracts, including templates, clauses, and exceptions. With a single source of truth, you and business users, partners, and authorized customers can view, manage, update your contracts, and search for necessary and accurate information.

After the offer process, users must legally accept a contract (for example. B NDA, Service Agreement, Standard License Agreement). The contractual repository – often a folder cabinet, computer desktop, or common server – is often disorganized, with no templates to create consistent contracts, so outdated contracts are used as ad hoc templates, resulting in potential financial and compliance risks. The right solution allows stakeholders to have secure access to respond to minor contract requests. This further reduces the administrative burden on central teams such as Legal or Procurement. Learn how to save 7.5 hours per week by implementing a dedicated contract management system that offers a contract deposit by watching the following webinar. Quality resources (lawyers) can focus on exceptions (complex or one-off strategic agreements that require negotiations, time, etc.). The legal department can set up an exception management that warns it when a sales representative tries to present a client with a contract with an outdated legal language or non-standard conditions. Users have the ability to browse the entire private legal repository with different filters such as contract type, company, department, etc. The CMx-Contract Management Experience provides companies that want easy access to contract documents and document compilation to implement a paperless environment and run a complete enterprise life management solution, the CMx-Contract Management Experience product provides an integrated contract/document repository to facilitate the secure storage, tracking, and management of documents, contracts, annexes, and images.

The Enterprise Contractitory offers comprehensive features for document management for businesses that are made available through a modern and user-friendly interface that combines the best of document compilation, workflows and reporting for contracts, financial documents, legal documents, customer communication and more…