Problem 1: Where is that Contract?
When suddenly asked for a contract with a particular counter party, Nancy has to search in multiple places through folders, emails, multiple contract repositories to review all the relevant contract documents and pull together the information about the contract.
eContracts provides an extensive search functionality with a centralized repository and cross linking of all contract data and documents to enable Nancy to easily search and retrieve all relevant contract information within a few minutes and send the relevant information to the business stake holder asking for it.
Problem 2: How do I keep track of all the Contracts?
Nancy is not just managing contracts, she is drafting contracts, providing support to a large number of business users with specific contract expertise and is also having to keep track of contract expiration and renewal requirements. She is looking for an easy reminder system along with the ability to easily access her key contracts at a moment’s notice.
eContracts provides contract milestones and alert mechanisms that can be turned on for each type of contract and will help Nancy keep track of the milestones and renewal/expiry dates along with any other types of critical dates around the contract. She will also be able to easily access her contracts through views and widgets on the home page of the system that are updated as new contracts are created or updated.
Problem 3: How do I support so many business users?
Nancy is constantly asked different types of questions by email, through phone calls, and in hallway conversations about specific contracts, language, deadlines, issues, and best practices. Most often she does not even have enough information to help the business and has to constantly ask for more information and follow up. It is hard for her to keep track of everything in one place and make sure she gets back to everybody with the right information in the right time.
eContracts allows business users to post all their requests and enquiries through a contract request and information process that helps Nancy prioritize the requests and respond to them. It also encourages business users to fill-out relevant contract data (who is the counter party, what is the type of contract, key information like the address, signatories, etc.) prior to the request so Nancy, if satisfied with the information provided can turn that into a draft contract document with auto-population of relevant meta data. Finally, the status of the request is clearly displayed for the business user at all times.
Problem 4: How can I manage approvals and reviews easily?
Nancy, today, has to send a set of documents for review or approval (depending on the type of contract) to different stake holders within the organization and follow up with them on a regular basis. With the number of contracts and people involve it is hard to manage with an email based system
eContracts has an automated workflow system to help Nancy better manage the approval and review process with automatic reminders, alerts and escalation capabilities to make sure that her contracts get the due attention needed in a timely fashion.