What's your process for managing contracts?
Slow, faulty, or an entire lack thereof Contract Management is a huge road block within numerous company sales cycles.
Contracting road blocks may include:
- lacking the tools to standardize the contracting process
- getting stuck waiting for a signer to execute the contract
- being able to quickly locate contracts, the amendments to those contracts or the renewed contracts
The traditional process of creating, publishing, and signing a contract has multiple steps. Managing contracts online simplifies the contracting process.
Check out the differences:
Traditional Contract Management Process:
- Contract Creation
- Audit and reporting
- Resurfacing of Documents
- Request for Renewal
Not listed: all of the time wasted waiting for a second party's action inbetween each step.
Online Contracting Process:
Creating an agreement in PactSafe is just as easy as copying pasting a document into the platform. Formatting is easily accessible through the editor making it easy to customize and immediately save as a draft!
Publishing an agreement is simplified with contract customization. Making a new version of a contract can be drafted and edited, and then the published copy pushed out to senders at any time. With new versions of an agreement, there are even options available to notify all existing holders of said agreement, automatically making them aware of these changes.
You can send, sign, and analyze contracts directly from the PactSafe application. It adds a completely frictionless, streamlined way to send and sign contracts with partners, prospects, employees or customers.
As soon as the contract is agreed upon by the parties involved, accepting is as easy as one click confirming the agreement.
File and Renew
Records of activity are kept via digital recordkeeping automatically! You don’t have to do anything there. When the contract is up, automation kicks in and notifies both contracted parties, invites them to re-issue the agreement or make edits to it for the future lifecycle of the agreement.