Looking for contract management system; any suggestion?

Question

Hi all,

I don't know if this is the right place, but I'd really like to have your opinion/suggestion on a few things. I am pretty sure a few of you may be able to help me. As you might be aware that every business relies on contracts, so does mine. Even Though my organization doesn't have thousands of contracts to manage, it is hard to follow each one of them. Contract Lifecycle Management (CLM) solution is just not the answer as we have already given a shot at it. We are looking for efficient contract management tools. We have already contacted a few of the vendors after filtering from the numerous that we found on the internet.

We are looking forward to a contract management solution with features like- Contract Management Tools, Increased Contract Visibility, Notify Renewal Date or Negotiation Opportunity, Enhanced Searching Capabilities, and other common basic features.

We are aware that the same contract can have different implications for different teams in our organization. For e.g., the sales team may want to close the deal asap, but the same does not go for the legal team as they'd want to double-check the situation and be thorough to ensure the minimized liability. Naturally, this can cause a conflict between the team. But with the contract management solution's central repository of documents and electronic signature, it will become easier for teams to balance their priorities. Summing up, these are a few reasons why I'd like to have the software implemented as soon as possible.

Any suggestions from your end are much appreciated!

TIA!

Answer 1

@Brittany Simpson
I suggest you use SharePoint as a contract management system to manage contracts. For classification, you could put contracts of different teams in different libraries. In the SharePoint, different contracts can have different permissions and can be shared to different users. You could also create a flow for library to notify renewal date or negotiation opportunity. SharePoint supports searching.

References:
Introduction to SharePoint in Microsoft 365
What is SharePoint?
SharePoint help & learning

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Answer 2

@Brittany Simpson
Sorry for the slow response! If you're still looking for a CMS, you should definitely check out Dock 365's Contract Management Software. They have the features you're looking for and are perfect for businesses of all sizes. And their all-in-one platform is reliable, flexible, and secure.

With Dock, you can get an overview of all your contracts and keep them up to date. You can also easily control versions and keep track of workflow. With their automated reminders feature, you can even be sure never to miss a renewal or update deadline!

They offer a free demo so you can try before you buy.