Contract Management: Document Review, Redlining, Version Control, History
Most contract management systems today, have natively built-in Microsoft Word into their systems. This allows users to enjoy all the same features they are familiar with to mark-up and redline their agreements. This helps drive rapid user adoption and keeps the company conforming to the industry standards for drafting and reviewing contracts.
Here are some things to consider when evaluating contract management software:
- Does the system have MS Word Natively built-in to the system? If so, does the system support all versions?
- Does the system’s built-in document features support ALL features within MS Word?
It’s not only important to have Microsoft Word built into the system, but the user MUST be able to utilize it – just like he or she was using it locally on their desktop or system. As an example, have you ever tried to use a different piece of software to edit an agreement? Doesn’t really work and it’s simply confusing. (Hence, why Word is the defacto standard today!)
Contract Logix’s Contract Management Software System, fully utilizes MS Word. Actually they go a step further – ANY edition of Word and ALL features (except save) are available to use. This means you can use their system exactly the way you would it you weren’t using their system. (hope that makes sense.)
Recently I reviewed the systems’ features – just to be sure and it’s even more extensive and complete than I had originally thought. The Contract Logix System has the following features in relation to document management:
- Microsoft Word natively built into the system
- All features and versions supported
- Organize and categorize any file or supporting material
- Full uploading and creation tools using templates
- Edit of any document or agreement with extensive contract redlining and mark-up tools
- Full automatic version control
- Full document history trails – with the ability to ‘go back in time’ and view any previous version
- Document naming conventions
- Document statuses and alerts
- Full side-by-side document comparison tools
- Automatic document comparison on check-in (Very handy, very fast feature!)
And, there are many other features which you can take advantage of to truley work and manage your documents and agreements directly in the system.