Is Contract Management Software Right For Your Organization?
Posted by Melanie Aizer on Mon, Sep 20, 2010 @ 11:54 AM
The benefit of contract management software is to drive down costs by automating the repeatable aspects of creating, distributing, signing and storing paperwork.
It is not well-suited for processes where the bulk of the time is spent negotiating the terms of the contract and where the sign-off process is simple. Two examples of this are mergers and acquisitions or settlement contracts.
Contract management software is best suited for organizations with high volumes of similar transactions with a complex signatory routing process.
There are innumerable situations where automation can quickly eliminate wasted resources. Some examples of this are: securities broker new account openings, employee pay stubs and benefits statements, account transfer forms, merchant card service on-boarding, and so on.
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