For legal teams, keeping track of contracts can be a challenge. Even more of a challenge, though, is dealing with the numerous requests that come in, every single day, for new contracts, sample contracts, contract templates… The list can feel never-ending, and legal team productivity can take a hit.
If your organization handles a lot of contracts (and most do), you can easily end up spending most of your time answering requests for contracts. While some team members may be able to handle the routine ones, there are always going to be complex issues that need the attention of an actual lawyer or at least a contract manager with strong legal training.
Most contract management software is somewhat helpful, but it doesn’t always improvement legal team productivity. Maybe it lets you store contract templates and samples so that you can hand them out easily. Maybe it even merges data into new contracts so you can put them together quickly and give people an approved contract they can use. More advanced systems have AI capability. The closer you can get to complete automation and smooth communication, the better your legal team productivity can grow.
ContraxAware offers more than that. In fact, ContraxAware includes an online request portal that allows users to easily request the contracts they need and for any approval they might need. The online request portal offers some amazing features — and if you want to see everything our contract management software has to offer, check out our full list of 99 features.
Users Can Request Contracts Anytime, Anywhere
ContraxAware is contract management software that works across any device. So users (for example, a salesperson on the road) don’t need to come back to the office to request a contract. They can simply make the request from their phone. Unless the request concerns a particularly complicated contract, it can even trigger automated action. This helps legal team productivity by removing the item from their to-do list altogether. For example, salespeople can ask for standard contracts and send straight to the potential customer or vendor. For simple legal contracts, the user just provides the details of the third party and can immediately generate the contract.
The system will assign all of the required data elements and put the contract together. Legal team members will be notified of incoming requests both by email and in the system. If a contract type requires a specific person to approve it for compliance reasons, the system will ensure that the person receives a task alert. Even better, the request tool can facilitate communication and encourage recipients to act in a timely manner.
Users Can Easily Send in Third-Party Contracts for Approval
Sometimes, your vendors or customers have their own contracts they want to use. In this case, the system allows requesters to send the contract document to the legal team for review. ContraxAware allows direct communication between legal and the vendor providing the contract, with no need for anyone else to be involved in negotiations. The appropriate users can approve the contract quickly or start the process of negotiating specific terms. This cuts down on back-and-forth emails and delays. Having a process for non-standard contracts cuts down the time costs of each deal, too. Having standard practices for salespeople and contract administrators also boosts legal team productivity.
The system may not be able to actually approve complex contracts for you. But it can send them to the right person or to a queue where they can be checked and approved by the next available team member. A version tracking system ensures that the correct version of the contract is the one ultimately sent out for signing. This also allows auditors and managers to trace back mistakes, too.
Using third-party contracts can be frustrating and cuts down legal team productivity. But ContraxAware makes it a lot easier to keep track of every step, redline, and change.
Users Can Track the Status of Their Requests
Once a user triggers a contract request, they can track its status. They will know right away if a contract requires additional scrutiny. Contract managers and salespeople will know whether the contract has been approved. They can also track when it is signed by the required parties.
The online request and contract management software system is collaborative. It allows communication between all parties, and it encourages productivity by offering transparency. This speeds the process of tracking and approving contracts.
Users Can Attach Documents to the Contract Request
The self-service portal also allows users to attach documents to the request. This might include invoices, requests for proposals, third-party addendums, information about vendors, and more. These documents will then automatically attach to the approved contract and follow it through the rest of the workflow. ContraxAware stores everything centrally and securely in the cloud, so there is no risk of important documents disappearing. If your company’s legal team productivity levels are low because documents keep getting lost, switching to better software is the answer.
ContraxAware offers fully integrated contract management software. That means it helps every user that touches contracts, not just your legal team. We help your company stay organized with an automated system that follows the entire contract process. Because of this, your legal team can concentrate on their part of the picture. They can be more productive when they know that the system will take care of everything else.If your legal team is spending more time writing and approving contracts than anything else, we can help. ContraxAware will bring this routine paperwork under control and free up their time for more important matters. Schedule a free 1:1 demo today to see how the tool can free up your time and inbox.