Workflow processes are the foundation of organized “work state” and “work processes” that ensure that contracts reach their milestones and pass them. In virtually every business scenario, ranging from procurement to contract termination, a pending workflow can hold back an entire process and is, unfortunately, so often the norm.
This is an automated process which monitors and reports on the status of every contract in your organization. The opensourceCM workflow process bridges the gaps between an organization's departments, and personal, to ensure the timely execution of key tasks in a contract's life-cycle.
Much like other features on opensourceCM contract management platform, this one is fully customizable also. Administrators can create as many templates as they need, and populate their corresponding notes with options taken directly from organization's database. In short, the contract administrators need only select the correct stage options when deploying a workflow process, thus ensuring standardized reporting data. The actual process of populating a chosen template is also very straight forward and leaves very little room for errors.
The optional descriptions available for each "signature" or state change in the workflow serves to offer more information to those receiving automatic reminders regarding upcoming events or contract state.
Document creation process require some templates to be available and a workflow that support actions like red-line and negotiations or internal review as well as audit or verification states. The biggest benefit is to see them when you need or have the report show up in your inbox.
opensourceCM is a service focused on the process by which organizations tap into the value of their contracts portfolio. The service goes beyond simply creating and managing contracts – it completely transforms how organizations manage risk, enabling them to shorten cycles and reduce costs. It is an extremely important and cost-effective solution saving companies significant funds once implemented and used.
opensourceCM is a cloud-based SaaS (software-as-a-service) solution. When uploading a text document, the application performs OCR, indexing and then recreates each document as an HTML document allowing easy document comparisons (e.g., between MS Word and scanned PDF docs). It also provides the ability to find words, values, phrases, terms of art or specific legal language within documents that are hyperlinked to the actual highlighted location in each document. This can be accomplished across document data sets that may comprise tens or hundreds of thousands of documents. Furthermore, opensourceCM provides a contract authoring workflow, calendar and notifications workflow, support SSO (single sign on) and encrypted secured access. The service offers the ability to simply create Negotiation Deal-Rooms and Users Data-Rooms (internal/External) or Flexible Bidding System with Advance Q&A. We offer an API (Application Processes Interface) Library with office365, BOX.COM, SalesForce, MS-Dynamics, NetSuite, OKTA, Dropbox, DocuSign to mention just a few.