All contract management software is designed to streamline the contracting process while reducing costs, but a good CMS is not one-size-fits-all. Certain CMS features, such as a digitized repository or automated tracking and alerts, are useful virtually across all industries, while other bells and whistles may not be worth what they cost (or even necessary at all).
Most contract management software also consists of integrations with other technologies, such as electronic signature or CRMs. CMS integrations simply ensure that your new software “plays nice” with the other components of your system.
Legal Industry
Transactional lawyers, whether working in law firms or as in-house counsel, spend copious amounts of time working on a single contract. Generally, one or more attorneys write the first draft, exchange it with other parties, and then receive changes or proposed modifications.
In between, there may be telephone calls or emails to negotiate, as well as additional input from other lawyers and managers on the team. The drafts of the contract are often emailed to multiple people. Sometimes drafts are exchanged within the company on shared drives, hand-delivered thumb drives, or even by paper draft. In the end, it can be complicated to know if you even have the latest draft of the document.
ContractSafe eliminates this confusion. All of the company’s contracts and important documents are digitized and stored in a centralized repository. The contracts can now be accessed from anywhere over the internet, and searched instantaneously with OCR technology so that you can quickly retrieve prior transactions or deals without wasting time or energy in the trenches of paper documents or distributed hard drives.
Speaking of quick access, our system also provides easy-to-manage user permissions so that the right people have access to the right documents. ContractSafe’s version control feature ensures everyone is working on the latest version of the agreement.
As any attorney knows, the devil is in the details, which is why ContractSafe provides reminders of key dates, such as renewals or expirations, and will send you notifications as far in advance as you like. You’ll always have a calendar of upcoming important dates, as well as email reminders well in advance. You can also set recurring reminders on a daily, weekly, monthly, quarterly, or annual basis, so you (or your clients!) will never overlook an important detail again. This way, you can help your clients stay on top of key dates and provide incredible service...easily.
Any responsible legal firm will want this level of thoroughness and security to extend past its office walls. Our integration with DocuSign, which allows clients to review and sign documents securely, instantly, and remotely, helps cross t’s and dot i’s with digital speed and exactitude.
Healthcare Industry
Perhaps no industry has been discussed more over the last 10 years or so than the healthcare industry. Politicians have made the cost and availability of pharmaceuticals and care a major election topic.
But outside of politics, the healthcare industry is massive and complicated. Healthcare providers typically have numerous layers of provider agreements, not to mention all the typical contracts that any enterprise must manage. Moreover, the healthcare industry is highly regulated by both state and federal authorities.
The U.S. Department of Health & Human Services Agency for Healthcare Research and Quality believes that using information technology in the healthcare industry can improve the quality of care while making healthcare more cost-effective. This includes ready access to a patient’s information, as well as the ability to securely share the information over the internet. ContractSafe checks these and other boxes for the healthcare industry.
Privacy concerns are met with our security features which match those used by financial institutions. Our CMS is HIPPA compliant; at the same time, data is safely stored in the cloud, so that it is accessible to anyone with appropriate permissions and an internet connection. All data is encrypted and stored on Amazon’s AMS ISO 27001-certified data centers. ContractSafe also uses SAML 2.0 technology, which bolsters security and reduces administrative overhead.
Notwithstanding the expert level of security provided, the software is easy to use and integrates seamlessly into your own IT system, as well as with Okta and other single sign-on authentication platforms. Custom fields can even be created to collect information about required BAA’s (for HIPAA) or vendor information as needed.
Hospitality Industry
We’re not sure about you, but when we take a moment to daydream about vacation, it’s often in a far-away place where the responsibilities of everyday life can be left behind. So it’s not surprising that the hospitality industry involves lots of contracts between providers in far-flung locales – with some business partners never even meeting one another. Thus, procurement can be complex, covering multiple locations.
The timing of contracts is also crucial – after all, forgetting to renew a liquor license right before a big wedding would be a big disaster! Fortunately, we make it easy to keep track of leases, contractors/service agreements, and the cloud makes managing multiple properties really easy.
With ContractSafe, distance is never a problem in completing a contract. Our integration with DocuSign allows you to complete contracts with electronic signatures in a snap, without ever leaving your office.
Then, once you have your contracts, they are easy to monitor and manage. As with any contract-heavy industry, automatic and comprehensive email reminders and alerts help ensure that you’ll never overlook a lease or license renewal again.
We almost forgot about our easy integration with Salesforce, which ensures your client relations are as streamlined as your contracting process, no matter your industry.