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Entries by Rajeev Kumar

How to Leverage the Centralized Repository in a CLM Software Optimally

How to Leverage the Centralized Repository in a CLM Software Optimally

One of the key features of contract management software is the centralized repository. The contract management software is designed to help businesses to get ahead of contract processes. Learn the length and scope of the document repository feature that makes the contract lifecycle management software an asset for the contract management team.

Streamlining Documents

Most of the companies that dealt contracts without software resorted to saving the documents in the computer system, which drastically increased the risk factor. The enterprise contract management software enables the users to overcome this challenge via the centralized repository system. With the software, the team […]

Contract Lifecycle Management Challenges and the Practical Solutions

Contract Lifecycle Management Challenges and the Practical Solutions

Managing contracts is an on-going process that requires intensive monitoring and control. The contract management challenges faced by contract managers today greatly differ from the issues of the past. The onset of the pandemic changed the business scenarios forever, which has brought an array of challenges for the contract management sector. We have compiled the current challenges in contract management that impede the contract operations.

Contract Amendments

The pandemic halted business operations across industry verticals, thereby inducing force majeure in contracts. Many businesses had to stop meeting the terms and conditions of contracts, thereby involuntarily violating it. Many companies did […]

Does Your Contract Management Software Possess these Features?

Does Your Contract Management Software Possess these Features?

In today’s era, it is difficult to manage contracts and contract-related activities manually. Technology-aided software has accelerated the process of managing software and has reduced the operational costs involved in managing hundreds of contacts efficiently. Although there are several software available in the market, the features often differ hence it is essential to choose a software that fits your industry and business. We’ve compiled a list of crucial features that a robust contract lifecycle management software must possess. Check whether the software of your choice fulfills the criteria.

Centralized Repository

One of the major challenges that companies faced before the […]

Review Contracts Like a Pro: Key Elements to Check Off Your Review List

Review Contracts Like a Pro: Key Elements to Check Off Your Review List

One of the key activities during the lifecycle of a contract is the process of reviewing contracts. Every business must review its contracts regularly to ensure that the terms and conditions are met and there aren’t any code violations. Since contracts are legally binding and have financial implications, it is advisable to review contracts and subsidiary documents during regular intervals.

Contract management software for sales is comprehensively equipped with features that make contract reviewing simple and efficient. A contract review encompasses verifying the terms mentioned in the contract and checking its legal validity. Further, it also involves staying ahead of crucial […]

The FAQs: Learn Why DocuCollab is the Ideal Software for Your Business

The FAQs: Learn Why DocuCollab is the Ideal Software for Your Business

Managing contracts is easier said than done. Contract managers typically used spreadsheets to manage and monitor contracts, which did not fit the evolving contract management model. Today enterprise contract management software solutions are highly demanded by businesses of all scales for their simplicity and efficiency.

DocuCollab is one of the leading contract management software that simplifies the process of creating, managing, monitoring and storing contracts effectively. Here are a few frequently asked questions about the software and how it could improve your contractual productivity.

Is contract management software required for even small businesses?

Yes. DocuCollab is one of the best contract […]

Spreadsheet Vs Contract Management Software;  Learn Why the CLM Software Scores Better than Spreadsheets.

Spreadsheet Vs Contract Management Software; Learn Why the CLM Software Scores Better than Spreadsheets.

We all love spreadsheets, don’t we? They are the most basic and the easiest way to create a database. From recording employee details to creating sophisticated, formula-based data, spreadsheets are the most popular choice for organizations of varied verticals. However, how relevant and useful is a spreadsheet in 2021? Is recording information in a spreadsheet better than using proprietary technology? Even today, several organizations use the spreadsheet to record crucial information, although they are creeping towards their obsolescence. Especially, when it comes to contracts, using a spreadsheet tends to invite adverse consequences due to its archaic nature and the lack […]

Here’s Why You Need to Embrace Contract Management Software ASAP

Here’s Why You Need to Embrace Contract Management Software ASAP

We’ve stepped into another decade, where technology has occupied every aspect of our living. It has become more important than ever to integrate businesses processes with the available technology to enhance productivity and increase yield. When it comes to contract management, we saw a phenomenal change in the last decade, where robust contract lifecycle management tools have redefined the domain activities. Many businesses of varying scales began to evaluate the pros and cons of such systems. If you’re a business owner looking for an agile software in revamping your contract-related activities, this article is for you. Learn why it is […]

Best Practices in Managing Contract Amendments

Best Practices in Managing Contract Amendments

During a contract’s lifecycle, changes or amendments are an imminent part, which requires proper management and monitoring. The reasons for the changes are wide and varied. A few notable causes that call for changes in contracts include price fluctuations, changes in demand patterns and unforeseen circumstances that require mandatory amendments. Whatever the changes might be, the contract manager must record the developments to ensure seamless business functioning. In this digital era, it is simpler than ever to accommodate changes. Contract management software helps to track those changes efficiently and help the team stay abreast of the contract developments.

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Maximize Contract Productivity with eSignature Feature

Maximize Contract Productivity with eSignature Feature

We live in a digital era, where every activity is automated or semi-automated, thereby increasing the productivity of the general workforce. In the past few decades, we saw phenomenal growth in the industrial and business sector, where software has simplified the activities to a great extent. When it comes to contracts, the advent of the robust contract management software system has redefined how the contracts are managed, monitored, and executed. One of the outstanding features that are responsible for the seamless functioning of contract management software is the facility to incorporate the eSignature feature.

But, What is […]

Top 12 Most Important Job Functions for a Procurement Department

Top 12 Most Important Job Functions for a Procurement Department

One of the crucial activities in an organization is the procurement department function which must be conducted effectively and efficiently. Companies are beginning to understand the potential that their supply chains and procurement divisions contribute to their profitability. Effective procurement department helps to streamline processes, reduce raw material prices and costs and identify better sources of supply, thus improving organizational efficiency.

Report from Florida-based Hackett Group says through the deployment of digital tools, procurement organizations can reduce operational costs by up to 45%, achieving efficiency levels while at the same time enabling them to improve effectiveness and customer experience.

Hence, procurement has […]