Organizations spend so much time on negotiating good contracts to let it just grow mold in a filing cabinet. Even a good contract when signed, can become bad through mismanagement and can cause a company loss of funds in penalties and aggravation. This is where a good contract management tool steps in. Knowing that you can’t help someone who doesn't want help, we find that the best evangelical approach is to invite the unconvinced to take a step back, and to look a 360 degree view at how much of the value of their contracts is really being realized.
Stepping back allows many to realize the strategic & revenue potential of being able to fully control their contracts. The view from afar raises questions that help redefine contract management goals; are your contracts in full compliance? Do you know how many contracts are to be renewed in the next thirty days? Do you know which contracts are stuck, and where? Do you employ an approval process? Do you know where each contract is?
In some cases, clients are not even aware of how much revenue their organization is leaking due to deficient contract management. Even when companies are convinced they already have a process that works perfectly, they are most likely missing out on the big benefits of a serious contract management platform. It’s the difference between administering contracts and managing them, the difference between knowing when contracts are expiring, and knowing how much you’ve lost due to contracts that where not renegotiated on time. A solid contract management platform will pro-actively help an organization:
Gain more visibility and insight into its contracts
Improve overall compliance
Automate contract authoring
Improve contract renegotiation
Realize full contract value
Now when considering a SaaS contract management applications the benefits literally double. Implementation of a platform such as opensourceCM takes place in a matter of days, with as little as three hours of training to get things started. Once in, customers enjoy a single repository for all of their contracts saving time and reducing confusion. The need for any software installation, update, or upgrade, is removed. Backup sets are performed on a much tighter schedule that any organization could allow itself otherwise. Data security measures conform to the most stringent security standards. Most of all, a solution of this sort produces the holy grail of business intelligence, standardized data which in turn, enables the creation of reports that will shed new light on how your organization does business. No less.
The opensourceCM SaaS based solution provides a (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.
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