Your contracts are vital to the development and success of your business. Their management cannot and must not be neglected.
To achieve this, legal departments need to be fully aware of contractual commitments.
Here’s the thing: as your business grows, so do your partnerships and customer base, and so do your contract management needs. With more than forty contracts to manage per month, it’s probably time toadopt a contract management software package.
Manual contract management is time-consuming
While 62% of legal departments feel that their workload will increase, and 50% of them believe that monitoring deadlines is the main risk in terms of contract management, only 12% have integrated artificial intelligence in the form of a contract lifecycle management solution into their processes.
However, the life cycle of a contract is long:
- creation and editing
- negotiation and modifications
- validation and signature
- storage and tracking
These tasks must be carried out with care. As errors are human, manual contract management can not only take up a lot of your staff’s time, but can also lead to problems such as missed deadlines due to lack of reminders, forgotten renewals, and so on.
Most of these day-to-day tasks can be easily automated with contract management software.
What’s more, by enabling your legal teams to save time on day-to-day contract management, you can increase your efficiency and productivity. By automating tasks, you can relieve your legal team of some of the follow-up work, enabling them to concentrate on their core business. By reducing exchanges and manual intervention to a minimum at every stage in the life of a contract, contract management automation speeds up your negotiations by 50%.
These contract management solutions also enable you to facilitate exchanges and follow-up between your various teams: legal department, sales department, purchasing department and so on. You no longer risk losing a contract (on average 10% of a company’s contracts are still lost) or renewing one by default without having renegotiated it before the contract expires.
Contract management software: an efficient way to automate your daily tasks
Whether in the legal, finance, sales, purchasing or human resources departments, your contracts pass through the hands of different people to be modified, stored, monitored and analyzed.
A contract management tool allows you to automate certain low-value-added but essential tasks so that you never lose any information or forget any deadlines:
- Searching and entering information: no matter how many people are involved, you keep a history of your contract and can easily track updates.
- Contract approval process: keep control of your contracts at all times.
- Need to comply with shared clausier and contract templates.
- Contractual deadline reminders: never forget a date again without even thinking about it.
📄 Good to know: With a contract lifecycle management (CLM) solution, you can even create your own digital contract library, giving all your employees access to the contracts and legal documents they need, wherever they are and in a completely secure way.
DiliTrust meets all your contract management needs
Whatever software your legal, sales and other teams use on a daily basis, DiliTrust adapts to all your habits.
Our contract management solution synchronizes with Word, your customer relationship management tool (CRM such as Salesforce or Hubspot), or your electronic signature tool such as DocuSign, Hellosign, SignaturIt and Yousign. 👉 See all our partners
DiliTrust integrates with your tools for smooth, simple and optimized contract management:
- Automatic reminders allow you to save on due dates, tacit renewals, unfair clauses or extraordinary amounts.
- Integrated electronic signature via our specialized partners.
- Simplified management of a large volume of contracts.
- One-click dashboards to analyze your business at a glance.
- Simplified, secure communication between your various departments.
- Fully secure tracking and history , from contract creation to signature (including modifications and renewals).
- Fast, simple and secure migration of your contractual data.
- Secure, centralized storage of your contracts. Find out more.
By centralizing your legal information with DiliTrust, you can accelerate your company’s activity while simplifying the day-to-day management of your contracts for your teams.
Looking for a contract management solution?
Contact us now!
