Contract management software starts by solving the headache of WHERE your contracts are, WHAT they include and what you must DO during their lifetime.
That contract is stored with the business, right? In SharePoint? Or is it in Salesforce? Hang on, perhaps it's still stored in DocuSign from the signing last year. Who was supposed to be tracking the renewal - was it Phillipe in Procurement? Or Tanesia in the EMEA team? It sure isn't the Legal Department - we just reviewed the final negotiated contract. Right? So why are they asking us for the final copy??
Hmm.
If this feels just a little too familiar, you might want to consider a need for a contract management solution to help you request, draft, negotiate, approve, sign, store, track and retrieve your contracts. Contract management is an extremely broad category of legal technology, and it's easy to get overwhelmed, so at Xakia we like to keep it simple AND powerful.
At its most basic, contract management software starts with a repository of documents and critical information (the document, terms, parties, value) and extends to the contract lifecycle to facilitate your ability to track key dates and responsibilities.
Xakia helps you get started in contract management by providing a comprehensive, yet simple to use end-to-end contract management functionality: from thought-bubble to termination.
Xakia's simple, powerful and affordable contract management system includes:
Manage Contracts as part of a Matter: where your legal team are working on a matter that focuses on a contract (e.g. drafting and negotiating a contract), you can manage all aspects of the contract and the matter in one place. You can manage contracts independently of matters too.
Contract homepage: each contract has a homepage where you can easily see and manage all key information about the contract in a beautifully designed place.
the Contract Document: the contract homepage is centred around the Contract Document and let's you easily see the official version of the Contract Document, as well as its full version history.
Contract relationships: create relationships between contracts to build up portfolios of related contracts, including 'parent-child' and related contracts, with a clear depiction of the relationship between them including amendment, extension etc.
Lifecycle events: capture key events in the contract lifecycle, such as start dates, end dates, renewal deadlines, etc - set reminders for yourself and your stakeholders.
Key terms: capture the key contract terms that are important to your organization at the level of detail that makes sense.
Xakia's matter management software ensures that contracts are embedded within the legal matter workflow OR standalone as a workflow in themselves. The best of both contract-worlds.
Consistent with Xakia's philosophy of simple and powerful in house legal software, the contract homepage is designed in a manner that makes information capture seamless and rapid. Information is displayed in a beautiful interface with quick visual indicators to allow users to see, digest and understand critical data at a glance.
But wait there's more!
Managing contracts is easy with Xakia's simple, powerful and affordable contract management solution. To learn more about Xakia's contract lifecycle management software for in house Legal Departments (or contracts only access for your organization), get in touch with the team today for a demo or sign up for a free 14-day trial.
Getting to 'go' is only the first part of contract management. Post-signature management of the contract throughout its life is equally important.
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Contract management is a broad church and the pain points can be plentiful. But what do teams rank as the MOST painful aspects?