Contract Management Software — Contract Distribution
Posted by Melanie Aizer on Mon, Jun 06, 2011 @ 11:59 AM
Contract management software optimizes every step of the process from contract creation, through distribution, completion, and application of business rules, to filing and retrieval. It improves profit and cash flow by dramatically reducing the number of people required to administer contracts and by speeding up the approval process. To understand how organizations are benefiting from this advancement in digital technology, we need to take a closer look at each step of the contract workflow process.
Step one: Contract preparation
Step two: Distribute the contracts
Shipping paper has a number of shortcomings:
- Costly: Arranging for distribution, couriers, mail, and so on.
- Slow-moving: Physically shipping paper to and from signatories, chasing signatories to correct errors, and supply supporting documentation, and so on.
Contracts distributed by courier, e-mail or fax have the additional problem of lost visibility. Once contracts are sent, the publisher has no idea of their status. Are they in transit to or from signatories? Are they sitting unsigned on someone’s desk? Or has the prospect moved on to a competitor?
Contract management software eliminates distribution costs, and accelerates completion rates. It provides visibility into every step of the process, so bottlenecks can be identified and the appropriate action taken.
Discover How Your Company Can Easily Automate Contract Workflows - Immediately Improving Operational Margins
Download this Complimentary White Paper Today & Discover:
- A detailed cost-savings analysis of transitioning to digital contract management technology
- How to save 40% of labor costs required to enter, verify, correct and re-key contract data
- How to eliminate all mail and courier costs
- How to minimize storage and retrieval costs to only 10%
