Contract Management Challenges
Creating and managing complex contracts using manual, ad-hoc processes, across a lifecycle that often spans years, is inefficient and challenging. It can also result in errors that have significant business and financial consequences.
Without the right tools and processes, contract development, reviews
Minimize Contract Risks and Costs
Intellective Unity Contracts Solution gives companies tools to implement automated, collaborative processes that reduce contract management risks and costs. A central repository provides a single place to store contracts, making them easy to find and review. Templates and automated workflows support consistent structured processes that speed up contract development, review and approvals. Advanced integration, search and analytics give contracts specialists quick visibility into current and past contracts, related documents, and the financial data related to contracts.
Unity Contracts includes a built-in Intelligence Engine to give users a view of all new, active and historical contracts from an actionable Analytics Dashboard. A contract can be opened directly from the dashboard to make changes, reassign tasks, or complete a contract. Interactive pie charts, bar charts and other facets provide easy analysis and drill down to quickly spot trends in contract outcomes, compare contract language across company workgroups, discover the makeup of the most successful contracts and more accurately forecast revenue. Unity Contract’s analytics can also be extended with HUE (Hadoop User Experience), Watson and other analytics tools.
The Unity Contracts Solution includes secure, intelligent search that enables users to quickly find contracts in Unity’s central contract repository. Users can also search working notes and comments that have been created as part of the collaborative contract development process. Unity can even index legacy repositories that contain older contracts and associated documents, so users can search those repositories, both on-premise or hosted in the cloud.
With Intellective’s Unity Contracts Solution:
- Give contracts specialists a unified user interface with a consolidated view of contracts and their status, references, attachments, working notes and comments
- Standardize contract across company workgroups and departments with templates that include reusable contract clauses that enforce consistent, compliant language
- Speedup contract development with collaborative editing that enables multiple users to simultaneously edit and review the same contract
- Assign and track contract review and approval tasks with automated workflows to reduce contract cycle times
- Manage risk by enforcing review and approval actions and contract language to reduce errors and associated risks
- Integrate with finance and accounting systems for a 360-degree view of a vendor or customer relationship. Compare contracts with financials to maximize contract outcomes and negotiate better renewals
- Enforce role-based security entitlements to control who accesses or edits contracts or even certain clauses
- Leverage Intellective’s consulting services to rapidly deploy the Unity Contracts Solution or migrate contracts from another contract management systems or paper
Create a library of pre-approved contract clauses and terms to ensure that current, compliant and consistent language is used across company contracts.
The Unity Contracts Solution supports collaborative contract authoring and reviews that enables users from different teams to interact while working on a contract simultaneously.
Migrate contracts and metadata from other contracts management systems or scan and capture paper documents. Create new templates based on the imported contracts.
Index and search contracts, attachments and other related documents stored in any repository. Easily find new or historical contracts, specific clauses or historical data.
Version and Track
Improve auditing and compliance by tracking contract versions and keep a history of all contract changes and review comments, including who made the changes and timestamps.
Enforce a standard structured contracts process with mandated reviews and approvals and structured authoring that enforces the use of compliant contract language.
Automated case management workflows reduce the time and cost of contract authoring, review and approval. Assign approval tasks to roles, not individuals, to speedup contract development.
View contracts and related workflow tasks from mobile devices to accelerate contract author, review and approval tasks from anywhere on any device.
Have more questions about Unity Contracts? Contact us below, and let's talk about your transformation goals around contracts processes.