What is contract management software?
Contract management software is a digital platform designed to streamline the contract lifecycle. It provides a secure and centralized location for signing and storing contracts digitally, enabling easy access and versatile search capabilities, and tracking of key dates and milestones with the help of automated email reminders. With contract management software, businesses can optimize their contract management process, reducing risks and improving compliance.
What are the benefits of contract management software?
Contract management software offers several benefits for businesses, including:
- Enhanced efficiency: Contract management software automates many of the manual tasks associated with contract management, such as approving and signing contracts digitally, sending notifications and reminders, and tracking key dates and milestones. This can help businesses save time and increase productivity.
- Improved compliance: By providing a centralized location for storing and managing contracts, contract management software makes it easier to monitor and track contract terms and obligations, reducing the risk of non-compliance and associated penalties.
- Better risk management: Contract management software can help businesses identify and manage contractual risks, such as non-compliance, contract disputes, and avoid missed deadlines.
- Better insights: Contract management software provides businesses with valuable data and up-to-date information on their whole contract base, enabling them to make more informed decisions and improve their contractual agreements over time.
- Improved decision-making: Executives can make decisions based on correct and up-to-date information to deliver company performance. All contractual information can be fetched in real time on any device using state-of-the-art search capabilities, including AI-powered OCR.
Overall, contract management software can help businesses save time, reduce risk, improve compliance, make better decisions, and ultimately achieve better results from their contractual relationships.
As a company operating in the UK and across 23 countries in Africa, Contractzen has proved to be an ideal solution for us: easy-to-use and provides a very efficient way to help us run our business administration.
Yoel Kenan - CEO, Africori
ContractZen has improved the management of our important documents with much needed flexibility and mobility. For example, contracts can now be safely accessed with any device. Zen has also allowed us to get rid of the paper versions of many contracts.
Tuula Laukkarinen - Finance Director, JCDecaux Finland Oy
Ahlström Capital Group consists of nearly 100 group companies and changing corporate structures require continuous updating of information. The ContractZen Company Register stores information about key persons, ownership structures, board members and other basic data, and makes it available to the whole organization regardless of time and place. All in all, ContractZen brings us time savings and better internal service.
Ulla Palmunen - General Counsel, Ahlström Capital
We adopted ContractZen's contract and meeting management cloud service throughout the whole organization in the same amount of time it would have previously taken us to merely prepare for an acquisition. This was great for our business.
Panu Hannula - COO, Musti Group