How to Automate Your Contract Management Process

How to Automate Your Contract Management Process

You wake up one morning, bleary-eyed and yawning, before you suddenly realise something surprising – you’ve never been so eager to manage your contracts! That’s because you’ve finally automated the process with WebCM – no more spending hours trying to work out what must be done next. Your contracts are now managed quickly and efficiently, with no risk of overlooking any points due to human error. You can just sit back and relax knowing that your contract management is taken care of for you – time for that extra coffee break!

Turning that dream into reality isn’t as hard as it sounds! In this blog post, we will discuss the benefits of contract management automation with WebCM. We will also show you how to get started with contract management automation and stride forth on the path to less stress and greater efficiency!

The Definition of Contract Management

Contract management is a vital piece of any successful business. It’s defined as:

—The process of managing agreements between two or more parties

This involves everything from documenting and negotiating contractual terms, to drawing up contracts, as well as monitoring contract compliance and performance.

Contract management is not only important for preventing misunderstandings between parties, but it can also help reduce legal costs by ensuring both sides are aware of the duties outlined in the agreement. Ultimately, it provides peace of mind for everyone involved in making sure that expectations are clear and met for each party in the contract.

Benefits of Automating Contract Management with WebCM

WebCM is a web-based software application designed to manage contract lifecycles. There are several benefits to automating your contract management process with a tool like WebCM:

• Increased efficiency: By storing all your contracts in one central location and automating reminders and notifications, you can streamline the contract management process and save time and resources
• Improved organisation: A digital contract management system allows you to easily categorise and organise your contracts, making it easier to find what you need when you need it
• Enhanced security: With a digital contract management system, you can ensure that your contracts are stored and transmitted securely. This is especially important if you’re dealing with sensitive or confidential information
• Better tracking and reporting: With a digital contract management system, you can easily track the status of your contracts and generate reports on key metrics like contract expiration dates and renewal rates
• Increased flexibility: With a digital contract management system, you can access your contracts from anywhere with an internet connection. This allows you to manage your contracts on the go and make changes or updates as needed.

Overall, automating your contract management process with a tool like WebCM can help you save time, improve organisation, and increase efficiency.

Overview of WebCM Features and How it Works

WebCM is a digital contract management system that helps businesses automate and streamline their contract management process. Some of the key features of the platform include:

• Automatic alerts and updates: WebCM can send automated notifications and alerts for important dates and events related to your contracts, such as expiration dates or required action items
• Easy collaboration and sharing capabilities: The platform allows you to easily share contracts with team members and external stakeholders, and track changes and updates in real-time
• Comprehensive reporting and analytics tools: With WebCM, you can generate a variety of reports on key metrics like contract expiration dates, renewal rates, and more. Secure, digital storage for documents: The platform offers secure storage for all of your contracts, ensuring that they are protected and easily accessible.
• Automated data entry: WebCM’s automated data entry feature allows you to quickly and easily input contract information, saving you time and reducing the risk of errors

WebCM is a powerful tool that can help businesses automate and streamline their contract management process, saving time and resources while improving organisation and security.

Step by Step Guide for Getting Started with WebCM

6. Contact us for a free trial or demo: Reach out to the friendly WebCM team to learn more about the platform and see if it is a good fit for your needs. Many companies offer free trials or demos of their software, so it can be helpful to take advantage of this opportunity to test out the platform before committing to a subscription. WebCM offers demos and a free 90 day trial, so you’ll have ample time to take it for a test drive and compare it with other products on the market
7. Sign up for an account with us: Once you have decided that WebCM is the right platform for you, the next step is for us to create an account for you. This will typically involve providing some basic information such as your company name, industry, and location. This information will help the WebCM team understand more about your business and how to best support you, including creating bespoke features if needed
8. Create contracts in the system: WebCM is designed to help you manage contracts and other legal documents, so one of the first things you will likely want to do is create contracts within the platform. This may involve uploading existing contracts or creating new ones from scratch using the platform’s templates and tools
9. Invite other users to join the platform: If you have a team of people who need access to WebCM, you can invite them to join the platform as well. This will allow everyone to collaborate and work together on contracts and other documents within the platform
10. Set up notifications and reminders: WebCM has the tools that allow you to set up notifications and reminders for important tasks or deadlines related to your contracts. This can help you stay organised and on top of your workload
11. Generate reports and analyse results: WebCM offers reporting and analytics tools that allow you to track the performance of your contracts and identify areas for improvement. This makes regular reporting a breeze and allows you to clearly identify areas for improvement
12. Manage all documents securely on the cloud platform: WebCM is a cloud-based platform, which means that all of your documents and data will be stored on secure servers and accessible from anywhere with an internet connection. This can help you and your team stay productive and efficient, even when working remotely

Conclusion

If you’re after some extra time for more coffee breaks (or other important matters), using a platform like WebCM for contract management automation is essential in today’s business landscape.

With WebCM, you can take advantage of advanced automation features that can help increase efficiency and cost savings by streamlining your contract management processes. Inviting your team to join the platform can significantly reduce the risk of errors or delays, freeing up time and resources to focus on more important tasks.

All in all, WebCM’s contract management automation features are an asset for businesses of all sizes looking to streamline their operations and improve their bottom line. We’ve been making contract management software for over a decade and before that, we taught comprehensive contract management classes to businesspeople just like you! So, if you’d like to learn more how our system can revolutionise your processes, or request a free trial or demo, get in touch with us via our contact form or give us a call on 1300 699 322.