Management of contracts is a critical function within businesses today. Most Contract Management solutions are complex and involve lengthy and expensive deployment cycles often resulting in low user adoption. In addition traditional Contract Management solutions are ineffective at addressing the first key step to a successful contract management implementation; finding your contracts. Seal Software provides a unique approach enabling you to provide visibility, gain control, and so effectively manage your contracts. The result is that you can proactively mitigate risk and augment business decisions.
Key Benefits
Gain Contract Visibility
- Obtain instantaneous visibility of your all contracts and contract drafts, their context and milestone information.
- Locate and review key contractual information such as contract type, contracting parties, start and termination dates for all known and unknown contracts.
- Track and monitor those contracts that provide for the assignment of contract rights or contain high risk or value clauses.
- Improve litigation-readiness by providing search capability across discovered contracts enabling you to respond to contract discovery requests in a timely manner.
- Detect erroneous clauses and proactively review those contracts that are a potential risk to the business.
Establish control of unmanaged contracts
- Organize all discovered contracts into a central, secure contracts repository
- Provide for a controlled and seamless population of Dolphin Contract Manager or Google Docs for on-going Contract Management
- Obtain real-time reminder notifications and alerts on contract expiration to ensure contracts are managed effectively.
Gain new insights to help business decision-making
- Gain insight into the context of your contracts and leverage this asset for contract negotiations, reclamation of discounts/rebates.
- Enrich other business functions with key contractual data – Financial planning, accounting, sales & services, customer relationships
Reduce cost and complexity
- Provide the business with a cost-effective and rapidly deployable solution to locate and manage contracts.
With many contracts being misplaced or hidden within file shares, organizations should start any contract management project by discovering, indexing and extracting key contractual data from their documents stored in their environment: file shares and content management systems.
Use Seal to search and review your discovered contracts to provide visibility and provide users with information to make informed decisions and mitigate any risk.
Alert on those contracts that are due to expire in a timely fashion so that a proactive action plan can be drawn up and executed.
Proactively review real-time reports depicting key contractual information providing a summary of the contract estate across the business.