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opensourceCM contracts management solution - 6 Points to Check if you need it?

Contracts reflect a relationship between your company and everyone it works with. Your ability to effectively govern these relationships ensures positive outcomes. Good relationship governance starts with well planned and executed contracts, and in most cases this requires real Contract Management.

opensourceCM is a contracts lifecycle management platform. The opensourceCM SaaS based solution provides a Contract Authoring workflow, Multi language OCR and Indexing, inside the document search, Calendar and notifications workflow, support SSO (single sign on) and encrypted secured access. If you need a Negotiation Deal-Rooms and Users Data-Rooms (internal / External) or Flexible Bidding System with Advance Q&A and API (Application Processes Interface) Library with office365, BOX.COM, SalesForce,

MS-Dynamics, NetSuite, OKTA, QuickBooks, Zoho CRM, Dropbox, DocuSign to mention just a few.

Are your company contracts being managed or just barely administered?

These are the most important question a company must ask itself with regards to the way its contracts are handled:

  1. Are all of your companies contracts currently managed? Is every agreement and contract your company is signed into being actively monitored and managed, or just key strategic contracts?

  2. Does your company rely on a documented contract management routine? Do you have an organization wide CM process with well-defined standards? Does your company rely on established CM documentation? Has your CM routine been properly implemented by everyone in your organization?

  3. Is there someone in your organization who is held accountable for contract management? Is your company’s CM routine managed by a person or department designated to do so? Is there someone you can turn to with any question regarding company contracts? Who’s held accountable when things go wrong?

  4. Do all of your contracts reside in a single repository? Do you know where all of your contracts are? Can you find anyone of them in a matter of minutes? Are they all in the same format, and do they all rely on the same data collection standards?

  5. Are your contracts available to anyone who needs them? How long does it take a simple contract related task to be accomplished? Do you employ an approval process that ensures every task is completed on time? Do you and your employees have 24 hour access to your contracts and their information? Is this access properly managed?

  6. Can you produce reliable reports regarding the status of your organization’s contracts, the liability and revenue they reflect? Do you have a reporting mechanism in place that can access all of your contract information and produce meaningful reports that require accessing several data fields over the entire organization? If you do, how long does it take to generate such a report?

Even if you answered yes to all of the above, there’s always room for improvement.

I bet you can always improve on what it is you are doing to make the most of the contracts your company has signed into. If a better or more efficient option exists, than adopting it is mostly an issue of budget. So is there room for improvement in the manner your organization manages its contracts? openSourceCM helps analyze an organization’s contracting needs before promising super-fast ROI. Schedule a free consultation and learn more about how your company’s needs can be answered by our platform.

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