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 Situation
Solution
Benefits
Case Studies
SituationToday, most organizations continue to manage contracts using a combination of fragmented solutions that are often manual, paper-laden, labor-intensive, and reliant on e-mail and attachments. Additionally, business managers are not empowered to develop their own agreements and must rely on overworked legal departments. However, improving the contract management process by implementing a generic set of boilerplate templates seldom works. These often do not cover all contingencies and can be prone to errors. A more reasonable approach is to focus on streamlining the communication, collaboration, and contract assembly processes to create the right contract with the right details as efficiently as possible.
SolutionThe goal of a contract lifecycle management solution is to provide contract content governance, execution management, and performance tracking, while improving efficiency. Easier Access to Contract Details | • | More easily manage contract drafting, negotiation, execution, storage, administration, and renewal | | • | More quickly track communication related to contract negotiation and execution | | • | More easily research and provide support information |
Improved Contract Compliance | • | Empower business managers to negotiate and drive deals | | • | Create more powerful draft materials while following strict language and term guidelines |
More Efficient Contract Data Entry | • | Improve entry into key systems | | • | Leverage data to create contracts, assuring a higher degree of accuracy | | • | Decrease time knowledge workers have to spend on administrative tasks |
BenefitsA Microsoft Office System solution can help enable enterprises to more effectively and efficiently attain the following benefits: | • | Address the need for contract standardization while lowering administrative and legal costs associated with establishing and managing strategic relationships | | • | Decrease contract creation and negotiation cycle times, and ease integration with existing enterprise resource planning (ERP) systems | | • | Reduce operating and regulatory exposure through enforcement of request-to-contract procedures, and eliminate redundant contract versions that can increase contractual risk |
Case StudiesSee how other companies are using the Microsoft Office System for their contract lifecycle management solutions: | • | | | Learn how BMC Software uses the Microsoft Office System to improve contract content governance, execution management, and performance tracking, while improving efficiency, tracking and accountability, and providing a measurable return on investment. |
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