When you are organizing your business, it’s likely that you have a number of different agreements that you use for your company deals. Having a variety of contracts can be beneficial for your business and can help when interacting with clients, but it can also be extremely confusing keeping track of all of your documents. This is where contract management software can come in handy.
However, there some things you should consider before you go ahead and immediately purchase your new program.
Is your storage limited?
Many times, you might feel like you are getting a great deal with a certain type of software until you look at the details. If your company works with a number of clients, it’s likely that you need to have access to a server with plenty of room for your agreements. Even if you think you won’t need the extra storage now, you might find yourself wishing you had more when your client list increases.
Some contract management software companies might limit how much data you can effectively store on their platform. This can be a problem if you don’t want to pay for premium space or you have more limited storage than you would like.
Knowing that you have enough storage for your documents already dictated in your agreement can go a long way toward allowing you to grow your business with new contracts from clients. Unlimited storage can save time and money so you don’t have to make provisions as your customers portfolio continues to expand.
Does it offer easy access to contracts?
When you are dealing with contract lifecycle management, it can cause problems when you or your clients don’t have access to agreements. This could be when you are first developing terms for your customers and they need to be looked over before being signed, or if a contract needs to be renewed.
However, critical services can easily go down, leaving you without access to your important documents and potentially increasing your costs. It can be necessary for you to look into a contract management software that allows for granular user permission settings. If anything goes wrong, you have the ability to go in and retrieve contracts—even if the network has crashed.
This allows you to grant permission to other employees or clients to have direct access to important files and contracts. Cloud-based software can allow your customers to access files from anywhere, which can incredibly useful if you have a time crunch on a deal. A comprehensive back-up system should also be installed so you don’t have to worry about losing your contracts in case the server dies.
In conclusion
Your contract management software should offer a number of features that allow you to work more productively with clients and your employees. You should make sure that you have plenty of room for your files with unlimited storage, and that you have easy access to files. These two traits can determine whether or not your business can provide quality contracts.
Guest article written by: Alex Schnee