Prevent errors, increase insight and improve productivity
Contract management software is one of the most crucial aspects of managing a company. Using the right system is key. An out-of-the-box solution for contract management often answers the needs of organizations much more effectively than a customized solution. M-Files contract management software is the solution for creating, reviewing and approving contracts. Mobile first, so work on any device. You stimulate consistency, transparency and accountability. Download M-Files and discover all the benefits of M-Files for contract management.
M-Files has also use cases for asset management software, qualitiy management software and document management software for human resources.
The benefits of contract management software
Visibility
Without easy access to contracts, procurement teams and contract managers, you risk eroding the value of agreements and contracts. M-Files unifies contracts and contract data to ensure that everyone is working with the same version of the contract or agreement.
Control
M-Files maintains a complete audit history including extensive version control. Automatic permissions ensure that only authorized users have access to the data. Organizations achieve savings by reducing ‘off contract’ spend by storing and tracking negotiated discounts.
Efficiency
Automating your contract management increases efficiency and streamlines your processes. Within the M-Files contract management, the automatic workflows process the contracts through their lifecycle and thus keep your employees up to date via notifications and tasks (e.g. awaiting a signature).
Manage the entire life cycle of contracts
- Initiate an application: Contract request templates can be created to streamline the initiation process. You will find approval and version templates in the library.
- Drafting and negotiating: During the drafting and negotiation process there is version management on the trial versions of contracts. Microsoft Office and Office 365 integration encourages collaboration.
- Review and approval: Flexible workflows help with step-by-step review and approval.
- Sign electronically: Documents can be signed using DocuSign’s eSignature capabilities or even sign on the go via one of the mobile applications.
- Execute: Milestones, commitments and issues are managed with automated commands and notifications.
- Manage: Contracts are indexed based on important metadata such as customers, projects or properties. As a result, contracts are organized dynamically. Link amendments, attachments and other related documents to the main contract. See which contracts expire or need your attention via dynamic dashboards.
- Search and retrieve: Advanced search capabilities and flexible views ensure you find the right contract.
- Renew and archive: Automate contract renewal and the archiving process. Receive notifications about expiration dates, saving you more time for upsell and cross-sell.