SharePoint Contract Management

Automating Contract Management with SharePoint

Featuring Optimus BT Gartner Market Guide 2017 market guide

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Market Guide 2017
for Enterprise Legal Teams

SharePoint Contract Management on-premise is a full-featured Contract Management Software product that extends the trusted and familiar SharePoint platform available in most organizations. It allows for the automation of Contract Lifecycle Management processes from authoring, reviews, and approvals, electronic signatures to post-signature performance management. Salient features of our product, “eContracts for SharePoint” include a centralized contract repository, contract type definitions, granular user access control, renewals, milestone reminders, alerts, along with search and reporting capabilities.

Top Reasons to choose SharePoint On-Premise Implementation

Familiarity with SharePoint

Several contracts and legal teams are familiar with storing documents in SharePoint libraries. Familiar user interface and document management capabilities through productivity tools like Microsoft Word along with the minimal need for data migration for storage, retrieval, and search makes user adoption relatively quicker.

Adherence to data storage policies

Contracts may contain sensitive intellectual property or customer personal information. This is the common scenario in life sciences, financial services, and healthcare industries, among others. Organizational policies for legal or compliance reasons may prevent IT from the usage of external repositories and SaaS-based products for data storage.

Full control over the infrastructure

Administrators of on-premise implementations have full control of the infrastructure including choice of upgrades, patch deployments, downtimes, backup, and storage procedure.

Extending IT investments

Organizations that have invested in IT support team and SharePoint license and servers may want to stay away from additional spend on cloud storage and licenses to implement contract management.

Simpler integration with LOB applications

The need to communicate with existing line of business systems for shared master data or financial data may require contracts to be stored and managed on-premise. This will also avoid configuring the company’s public networks and dealing with firewall settings.

Broader customization options

Both at an application and underlying infrastructure level, IT has a lot more control with on-premise installations (compared to a cloud install). From choosing which content databases store which site content to corporate themes to integrations and reports, a broader range of customizations are possible

KEY PRODUCT FEATURES

CENTRALIZED REPOSITORY

Store your contract records in a centralized repository by extending SharePoint lists and libraries. These records are indexed, retrieved and can be organized by department, contract type, legal entity or by any other user-defined taxonomy.

ADVANCED CONTRACT SEARCH

Utilize keyword, metadata and full-text search to search through contracts and documents with phrases or using tagged clause, counterparty names or document content.

RENEWALS AND EXPIRATIONS

Automate contract renewals and expirations with supported by workflows and reminders. Manage close-outs and cancellations process for fixed term and end of term contracts.

MILESTONE REMINDERS

For contracts, milestones are not just due dates but are metrics that track performance. Milestone related features include status tracking, reminder scheduling, user assignment and calendering.

USER DASHBOARD AND ROLES

Get a personalized overview of upcoming priority milestones, pending tasks, critical alerts and quick links to common actions based on user preferences and role.

CONTRACT DOCUMENT AUTOMATION

Utilize Intelligent forms to ask contract type specific questions and user-entered information along with pre-approved templates to generate standard contracts such as non-disclosure agreement within seconds.

COLLABORATIVE CONTRACT REVIEW

Integrate and extend word features for annotation, versioning, redlining. Easily collect and consolidate feedback from legal, finance, executives, and external parties while keeping track of all changes in the repository.

CONTRACT APPROVALS

Route contract agreements for approvals to designated individuals approvals in a serial or parallel manner. These review, approval and sign off processes can be ad hoc or conditionally routed based on parameters such as but not limited to expected spend or contract type.

ESIGNATURE INTEGRATIONS

Enable execution of finalized contract documents to be signed from anywhere on any device. eContracts integrates with industry standard electronic signature tools like DocuSign, AdobeSign & RightSignature.

MANAGING RELATED CONTRACTS

Manage contract associations such as Master Services Agreements – Work Orders, General Contractor – Subcontractor Agreements, SOW, NDAs, Prime-Subcontractor Agreements by providing cross contract references.

BUSINESS USER REQUEST PORTAL

Streamline business user support and interaction with contract management teams with Request module. These portals enabled with request forms, task assignment, workflows and document management capabilities. Easily convert approved new contracts requests into fully featured contract record.

CONTRACT REPORTING

Provide reports and metrics at a different level of details on various contract aspects including lifecycle, user activity, renewal events, milestones, and administration. Custom, ad hoc reports can be created by users by bringing together user-defined data, filters, and views.

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