Imagine a world where you no longer have to manually look up contractual requirements and deadlines during delivery, because a software solution does it for you. There would be no more missed deadlines, overlooked details or other misunderstandings. It is reasonable to wonder why this way of working is not standard practice in the 21st century.
Unoptimized Processes
When creating a contract, it is important to include all mandatory elements without having to rewrite them every time. At the same time, the drafting process must be flexible enough to allow frequently changing details to be updated easily. Process automation software allows us to assemble a contract using predefined, customized or entirely bespoke text sections. Furthermore, because all the information included in the contract is directly available, there is no need to re-enter it from an external source when drafting the document.
Tasks After the Contract Has Been Created
The benefits of our workflow management system become particularly clear when managing tasks related to the completed contract and tracking information. Contract provisions can, for example, be recorded as tasks, allowing the software to notify all participants before deadlines expire. Interim invoices can also be attached to the relevant tasks as needed. The greatest advantage of tracking tasks is simpler resource planning and monitoring, ensuring that everyone involved within the organization can stay informed about the project's progress.
Improving the Customer Experience for Complex Contracts
Tasks that are recorded in the right place and kept up to date can also offer significant benefits to a company's customers, as automatic notifications can keep them informed about each step of the workflow. In a general construction project, for example, it can be particularly reassuring for customers to know exactly which stage construction has reached on their future home.
Automation
Several steps in contract creation can be automated, as can related processes such as managing design documentation or invoices.
Framework Agreements and Renewable Contracts
If a contract is for a fixed term but the activities it covers need to continue, or its available budget needs to be managed, workflow management software can help with this too. For renewable contracts, automatic notifications eliminate the worry of forgetting to renew. For framework agreements, we can allocate the budget proportionally over time, and the system sends a notification if the monthly allocation is exhausted. It also allows us to track who ordered what and when, and to manage the approval of related invoices consistently.
Contract Archiving and Storage
Since operational tasks can arise at any time, even for completed contracts, proper storage and record-keeping are essential. Most often, however, we simply need a particular piece of information from a previous contract. To make this easier, it is especially useful to maintain all contract data in an external system as well.
Version Control
Version control is another important aspect of storage, making it possible to track previous changes along with the person who made them.
Summary
Contract administration is just one of the many areas that a process automation system such as xFLOWer can make significantly easier and more cost-effective. At Click On, we strive to provide our customers not only with the software but also with the expertise behind it, relieving them of a substantial administrative burden.
