Benefits of contract management software

  • CM Benefits 2

Why Contract Insight?

Contract Insight provides a highly-robust, scalable, web-based solution using advanced web and database technologies. It offers unprecedented contract management software flexibility and functionality to business users of all levels and organisations of all sizes. Contract Insight can be rapidly deployed, supported and maintained, hosted in a SaaS model or deployed on your organisation’s servers.

This enterprise contract management system will help your organisation meet contract compliance regulations, centralise your contract and committal management, enable team collaboration and improve your overall contract administration process.

Key functions

  • Multi-level security
  • Track sub-tasks and milestones
  • Template-based creation/drafting
  • No attachment limitations
  • Custom and ad-hoc searching/reporting
  • Track key contract dates
  • Advanced calendar notifications
  • Email contract and task alerts
  • Add user-defined fields
  • Online report builder.

Specific benefits

Reduce contract cycle time
Eliminate common bottlenecks across creation, negotiation, approval, and renewal/termination. You can quickly create contracts within the system’s Word-like editors or in Microsoft Word itself, by simply dragging and dropping clauses from approved contract language library. During negotiations, visual comparisons of text between versions will save you time.

Enhance employee productivity
Contract Insight doesn’t just automate common contract workflow processes – it also streamlines by eliminating certain steps. Depending on the information provided, tasks and information would be automatically routed to the necessary business people, rather than requiring manual intervention. And the use of contract management database templates frees up more time and ensures consistency.

Real-time risk visibility
With time-sensitive data and information decentralised, risks and potential losses increase. Contract Insight provides General Counsel, Sales, Procurement, Compliance, IT and all other departments with instant access to every contract, committal or agreement via a central, unified contract repository.

Sustain profitable agreements
Contract Insight offers real-time visibility on existing committals and agreements. This gives you a competitive advantage in negotiating new agreements and consolidating agreements with the best terms. It offers fully-featured contract creation/authoring to accurately and consistently create contract language and merge details.

Timely contractual obligations and key milestones
Traditional filing approaches can misplace critical information and fail to meet obligations. Contract Insight’s sophisticated workflow capabilities enables your employees to keep abreast of and follow through on important items and critical milestones, via escalations, sequenced and tandem processes.

Easily manage ITTs and contracts
ITTs require considerable admin, often involving manual processes, short time frames and large volumes of documents. Four’s tender management software – which integrates seamlessly with Contract Insight – reduces complexity and wasted effort. It’s easy to use and helps you meet compliance requirements, control risk and drive down costs.

Helpful Information

What Are ITTs?

ITT is a common business abbreviation for an Invitation to Tender, a document issued to openly invite suppliers or contractors to submit a proposal to supply services or goods.  This is usually done using a sealed bid process.

What is a Redline Document?

A redline document is a document that allows you to see the changes that have been made compared to previous versions of the document.  In technical, regulatory or legal contexts it is important to keep a clear record of changes over time.  The name comes from the fact that changes to a document are usually highlighted in red.  Authoring tools such as Microsoft Word can do this.