Automate processes involved in tracking, managing and administering agreements
Contract management covers a lot of business critical processes that take time and involve the need for approvals and signatures.
Previously, they are processes that haven't been digitalised, possibly down to the fact that people either don't have the know-how or because there are elements of the processes that bring doubt as to whether it can be digitalised, i.e. wet ink signatures.
Currently, contract management processes are time consuming, can be slow and can be inefficient in terms of the communication, speed and the amount of paper documents that are handled.
5 Reasons to digitalise contract management
1) Business procedures are accelerating and demand faster processes and contract management is falling behind
2) Advances in technology means that every part of the contract management process can be digitalised
3) Consumers are used to digitalised and automated processes and this is changing business processes
4) Changing regulations mean more transparency and security is needed on core business processes
5) It saves employee time and makes the process more efficient
How it works
Xenith's contract management solution automates your organisation's contract renewals system, ensuring that all stakeholders have advance warning of key dates in order to protect themselves from legal disputes or out-of-contract exposure – and free up enough time to negotiate the right deal.
Past, current and future contracts can be digitalised in order to allow for continual updates as changes are made, with a complete audit trail of all amendments.
Benefits
Through digitalising contract management processes, it's possible to substantially reduce or eliminate the manual processes involved in tracking, managing and administering agreements once they have been signed.
Companies that digitalise contract management processes also benefit from:
- Documents can be filled in and signed on screen
- Increased visibility of the contract management processes including tracking, managing and administering agreements
- Automated communication and dispatch routes
- Efficient and transparent archiving
Contact us to learn more about how to digitise and automate your contract management processes and other business processes.
