Simple user access permissions controls ensure that contract information can only be accessed by the right people, even when there are changes in staff.
Calendar reminders and other manual methods for monitoring contract deadlines are ineffective and risky. A contract management system guarantees that stipulations and deadlines are closely monitored and that expiring contracts are acted upon accordingly.
M-Files Contract Management is a complete, purpose-built, cloud solution for the creation, review, approval and disposition of contracts to drive consistency, transparency and accountability throughout your contract processes.
-*Source – M-Files Contract Management Survey
Benefits of M-Files Contract Management
Visibility into contracts and contract processes
M-Files support the complete lifecycle of Contracts
Controlled editing of documents
Use the Contract templates for standardization and save time.
Create contracts on M-Files
Integrates with existing systems
Automate the contract review and approval process
Access, review and manage contracts via your mobile device
Access and manage contracts anytime, anywhere
Dynamic views - Viewing contracts in context, enables a 360 degree view
Secure and automated access control
Use automated workflows for drafting, reviewing and approving contracts
Collaborate on contracts with external stakeholders
Digitally signing contracts
Replication and long-term archiving
The complete lifecycle of Contracts
M-Files supports the complete lifecycle of Contracts, in all its stages:
Contract Initiation - Contract request templates can be created to streamline the initiation process. Template library includes approved and versioned contract templates.
Drafting & Negotiation - During the drafting and negotiation process, drafts are version controlled. Microsoft Office and Office 365 integration fosters collaboration.
Review & Approvals - Flexible workflows allow multi-step reviews and approvals.
Signatures – Electronic or E-signature - Documents can be signed using the eSignature capabilities of DocuSign or the M-Files Mobile App.
Contract Management execution - Milestones, obligations and issues are managed with automated assignments and notifications.
Manage - Contracts are indexed with key metadata such as clients, projects, or properties to help organize content dynamically. Amendments, attachments and other related documents can be linked to the main contract and dynamic dashboards track status, expirations and other milestones.
Search & Retrieval - Advanced search and flexible views ensure fast contract retrieval.
Renew and Archive - Automate manual renewal and archival process. On the sell side, alerts on expiration dates allow more time to upsell and cross-sell.