Paper-Based Contract Records are Becoming a Thing of the Past
In this electronic age, and more importantly, going forward, paper-based contract records are likely to become a thing of the past. It will become more and more essential for enterprises to have data within any sales contracts, at their fingertips. This type of data will be used for historical analysis, as well as forecasting and risk assessment and analysis.
A major goal for contract management within any company is to ensure that its commitments and obligations to customers and suppliers are clearly visible to the right people in the organization and that they are acted upon. A contract that an enterprise has with its suppliers or its customers is what determines pricing structures, volume discounts, delivery times, rebates, service – level agreements and many other key aspects, all of which are essential to controlling the two most important factors in any business: expenses and revenue.
These disjointed and largely manual processes that are used to manage the lifecycle of a contract can lead to a significant impact on the enterprise. Impacts such as these on mid-market companies can result in fairly severe consequences.
Contract Logix Systems employ powerful, contract management features across your entire company. By improving visibility and by better utilizing contracts as effective management tools, you can stay on top of every obligation, rebate, renewal, annual increase, fees and pricing structures, services, and more!
Robust security means only authorized users will have access to certain data, and powerful auditing tools lets you know exactly who, what, when, and where this data was altered or viewed. Set automatic reminders, task alerts, date expirations, and use the easy to use calendars and to do lists to stay on top of everything related to your contracts.