Define and update clauses or sections once use them anywhere
Site rules and regulations
General purchasing agreement
A clause can be shared but only needs to be updated in one place and all templates are updated
Sections may be “locked” or editable during contract drafting
Each contract/project is a compilation of individual “template” terms; some of which may be modified to suit each specific project’s requirements (for example, the term, scope etc.). The others are “locked down” or “secured” in order to uphold the organization’s governance and risk management policies (for example indemnity, IPR, and insurance) and are not able to be modified by the project team.
No more forgetting to update state and other regulations
AUTOMATED REVIEW NOTIFICATIONS
Compliance requirements for certain documents are complex. Non-conformance can lead to fines, revoked licenses, and in some cases even criminal liability. Federal and state regulations such as Sarbanes Oxley and HIPAA mandate strict security and privacy guidelines.
All clauses/sections in the template library can be assigned review intervals and will send out automated email notifications to their owners whenever the interval has lapsed so that they can be reviewed to ensure they are current with the business or statutory requirements.
Create multiple language versions of your templates
If the base language clause/section of a template changes, all other language versions will send out email notifications to the various translators to ensure that the other language versions are updated as well.
Granular responsibility for change approval
Each clause or section can be “owned” by a different subject-matter expert in order to ensure compliance with the organization’s governance structure and risk management policies. Only that person is allowed to change or approve changes to that section.
However multiple users can each work on their section of a template at the same time from anywhere on any device.
Use variables for quick contract completion
Templates can contain variables such as [Name], [Address], [Company] etc. which can automatically be inserted during contract creation – either manually or via Salesforce or other importable platforms.
Selectable items/sections allow for quick contract creation
Templates can also contain selectable items (options) which need to be selected during project/contract preparation. This means these options are locked-down but the user can select which option(s) they require. During contract preparation, the user is forced to select the required options before the document can be published.
Concurrent editing allows multi-disciplinary teams to create templates quickly
Templates allow for quick and easy contract creation and negotiation
ONLINE CONTRACT NEGOTIATION
Use templates to quickly draft contracts and get them approved before sending them to the other party.
Then invite the customer/supplier to view and comment/negotiate online.
Submit for final approval and lock and sign. Maintain version control and set reminders for contract renewal or cancellation.
Track all communication for future reference
Each clause/section contains all collaboration data and previousversions for easy retrieval
Cloud-based so everything is available anytime from anywhere