Contract Management

Background

Paperless management of processes and systems is the need of today’s digital world. Handling of procurement sales and contracts, IP licenses, policies, records, claims and internal agreements electronically is far more efficient, cost-effective and faster than laborious manual paperwork. Due to high volume of contracts/agreements, handling all the paperwork manually increases the chances of losing them. Also, secure and easy access to contracts, supporting documents and confidential information becomes very challenging.

Moreover, the contracts have to be properly archived and retrieved in future. workMETHODS realizes the fact that contracts are an incredibly important set of documents and each contract document contains critical data of the organization’s connection with its vendors, clients, stakeholders and employees.

Our Solution

Our Contract Management solution provides a highly robust, reliable, configurable and scalable automated workflow engine for the entire Contract Management life cycle that involves Contract creation / drafting / import and conversion, editing, negotiation, approval, renewal, real time access to financial and legal compliance reporting, administrative dashboards, submission, distribution, reporting, archiving etc. thus increasing productivity and profitability.

Our solution allows administrators to create multiple workflow templates and define rules to auto-assign or manually assign these workflows to contract types and other metadata. While the contract is progressing through the workflow, authorized users can have visibility into the end to end process. Each workflow template can have tasks [such as authoring, redlining, negotiation, evaluation, approval, execution, order tracing/compliance/obligation management, etc.]. Each task may have a desired duration and interdependency among the tasks. System will allow users to enter owners for each task.

Contract inter-dependencies can be configured based on pre-defined rules or on demand. At each stage the dependencies are validated and appropriate actions are taken. Amendments may occur in any contract independently. Just the changed contract/amendment progresses through the workflow. Once this amendment is approved, all the dependent active contracts are automatically updated and refreshed.

Our extensive reporting tool provides reports, charts, dashboards for workflow performance, individual employee performance, contract progress, details on all aspects of the contract based on current and historical data for statistical and predictive analysis.

The solution is 100% web-based. It is compatible with all industry standard browsers. Hence, it can be accessed with use of any standard browser using a desktop as well as any mobile device [iPad, iPhone, Android Tables, Android phones, etc.]

The solution is available On Cloud as well as On Premises. It can be integrated with your backend system through web services as well as custom integrations.

Enhanced productivity

Improved control over the process

Increased predictability

Lowered cost of ownership

Better adoption through user-friendly interfaces

Fully featured 100% cost-effective web-based workflow automation of the processes

Highly configurable, flexible and scalable centralized solution for entire Contract Management life cycle

Real-time calendar functionality for submission, processing, review, status tracking, scheduling, reminders, deadlines

Supports Version control of contracts

Improved collaboration between employees, administrators, clients, vendors, stakeholders

Metadata management with field-level access with granular permissions, role-based form visibility and access control for contracts

Fully supports Contract dependencies and relationships management

Manages 10,000+ contracts

Support for most of the industry - standard formats such as Excel, CSV, ePub, PDF, MOBI, XML, etc.

Best-in-class encryption methods

Seamless Integration with legacy systems as well as Microsoft Office

SharePoint 2013 Enterprise

Windows 2012 Servers

SQL Server 2012

SQL Server Reporting

IT Strategy
workMETHODS strategized the solution and technologies.


IT Turnkey Solution Development
workMETHODS developed a custom solution based on above technologies.


IT Managed Services
workMETHODS hosts the solution on its servers. We manage and monitor the servers. We provide email and phone based application support.