As Hoc Contract Management
Companies often use ad-hoc manual processes to create and manage complex contracts across lifecycles that can span years. At best, contracts may be managed with a document management system like SharePoint that has some collaboration features but isn’t optimized for contracts. Even worse, contracts are often managed “via inbox,” with contract content and comments shared, reviewed and approved by email, with limited reuse or standardization. These inefficient and error-prone management processes increase contract development costs and can result in non-compliance with contract terms that can expose a company to increased risk and potential fines or penalties.
Unified and Automated Contracts Management
Intellective’s Unity Contracts Solution replaces ad-hoc contract management with an automated contract management system that enables users to fully manage contracts from a single browser-based user interface. Key features
Integrate to Track Contracts Against Financials
To optimize contract terms and renewals and ensure that their company’s contracts are compliant, a contract specialist must be able to track the historical spend against active contracts. Unity Contracts includes simplified configurable integration with financial, vendor management and other line of business systems so users can view real-time financial data alongside active contracts. Integration with on-premise and cloud-hosted applications from any vendor ensures compatibility with current and future systems. Connections to other systems are easily configured via open standards and APIs like CMIS, JDBC, SQL, Java, REST, web services and URL integration.
The Unity Contracts Solution includes secure and intelligent, semantical search of historical and active contracts. Unity can index and search documents and metadata in its own contract repository as well as in legacy repositories that contain older contracts. Users quickly find contracts and reusable components like clauses by using faceted and semantical search to find contracts, attachments, reference documents, comments, and working notes to speed up contract creation, review and approval tasks.
The Intellective Unity Contracts Solution provides:
- Manage contracts as automated workflow cases and assign and view the status of contract tasks, owners and due dates
- Create and edit contracts with Microsoft Word or online web authoring tools and store contract clauses as XML in Unity Contracts’ central repository
- Built-in collaboration features so users can share comments and working notes or request assistance from another user while working on the same contract
- E-mail notifications for review and approval task assignments and other workflow events to speed up contract development
- Reusable contract workflow templates and a library of reusable components like clauses to speed up contract development and reduce contract risk and errors ·
- A “review tree” to quickly view the status—completed, work in progress, has issues—of each clause in a contract ·
- A built-in Intelligence Engine to give users a view of all new, active and historical contracts from an actionable Analytics Dashboard
Setup and customize Unity Contracts with configuration not coding. Configurable common services for user interface, integration, search and security quickly bring enhanced capabilities to contract management.
Capture & Migration
Migrate contracts and metadata from other contract management systems or scan and capture paper documents. Create new contract templates from imported contracts and automatically classify contracts and clauses.
Users work on contracts simultaneously, including editing, requesting assistance, assigning tasks, and creating shared working notes and comments.
Create reusable templates that are the basis for automated contract workflows. Build a library of standard contract clauses to enforce current consistent language and terms across contracts.
Publish contracts as MS Word or PDF documents. Full support for version control and tracking changes across versions, including timestamps and who made a change.
Extend existing security systems to provide user and role-based security for contracts, clauses and other components. Support for open security standards like LDAP, JAAS, SAML and OAuth.
Speed up the contract development process with automated workflow cases that include assignment of tasks, deadlines, required reviews and approvals.
View contracts and related documents from any mobile device using any browser. Unity Contracts is fully responsive and can be optimized for smaller screens.
Have more questions about Unity Contracts? Contact us below, and let’s talk about your transformation goals around contracts processes.