Contract Software
Posted by pagelightprime
from the Technology category at
18 Dec 2022 06:52:27 pm.
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ContractPrime contract management software offers collaboration platform for all the stake holders to interact and manage the approval workflow. Contact automation can assemble documents based on business needs collected through interactive interview process. All the terms are inserted from approved glossary bank based on the jurisdiction and policies set by the general counsel.
Contract lifecycle management software must be a single platform for the organizations to manage in-flight and the executed contracts. ContractPrime legal tech solution is built on Microsoft 365 for the users to work on the contracts from Microsoft Word or Outlook. Power users can configure the rules for document creation and the subsequent workflow are all based on contract or document type. Contract workflow software handles negotiation and approvals dynamically based on contract metadata, properties, and ad-hoc user requests. Responsible parties will be notified, and comments can be collected from their mobile device. Multistage approvals can be configured including internal and external counter parties. Contract coordinator can get the status on all the contracts and send reminders when task is not completed.
Contract repository software is an extended Legal DMS to store contracts and supporting documents. Records management rules and information management policies like retention procedures are applied based on the contract type, regulatory compliance, and industry requirements. Machine learning enabled search for identifying contracts and documents with filters to narrow the search results. The data can be exported as reports to Power BI platform for further analysis to identify the KPI and business process improvements. Promoted documents in search by the librarians for effective legal research during contract analysis.
Tags: Contract Software
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