EliteContract

Contracts are the lifeblood of any organization, but deals often grind to a halt when they hit the contract stage. As your organization grows, so does the number of contracts you enter with vendors, partners and customers. The longer it takes to get a contract signed, the longer it takes to receive revenue from the deal.

EliteContract helps you better manage contracts throughout their full life-cycle — from contract generation to renewal. The results are more free time, reduced operating costs and accelerated revenue. This benefits not just legal and sales teams, but everyone who deals with contracts behind the scenes, including HR, finance and IT departments… and your customers!

EliteContract offers a simple, powerful, and secure contract lifecycle management solution, customizable to your needs. It provides a simple way for you to get your contracts under control, eliminating the risk associated with poorly managed documents. EliteContract automates the contract management process, ensuring you never again have to worry about when a contract is about to expire, whether the vendor or contract has been reviewed before a contract is renewed, whether milestones stipulated in the contract have been completed etc.

BENEFITS

Author collaboratively

Take the full process of authoring contracts, collaborating in-house and with your suppliers. Contract delays often begin in the contract generation process. To avoid risks and roadblocks, begin with clause libraries and contract templates. This will ensure that you’re using the most up-to-date information for generating contracts, and allow your organization to be flexible enough to handle third-party contracts.

Contract review

The contract review process grows in complexity depending on the size of your organization and who’s involved. Simplify collaboration during review and approval by tracking every action taken on a contract. Use Clause Libraries to add approved clauses and ensure negotiations run smoothly. Increased visibility into the process means all reviewers can identify pending and completed activity at every stage of contract review, so nothing falls through the cracks.

Manage centrally

Store your contracts in a central repository so everyone can find them easily, with secure access so people will only see what they’re supposed to see. Have access to all of your contracts with all relevant information in one central place and easily view electronic copies of the original documents. No more searching for paper copies of your contracts being spread out all over the organization or Managing your contract portfolio using paper files and folders or Excel and file directories!

Never miss a deadline

Receive automated reminders for contract renewals and view your data dynamically. Renew, negotiate, cancel, and consolidate – on your own terms. Add important events on specific dates to your contracts and get automatically reminded. No more missing of yet another important deadline, e.g. for the cancellation or prolongation of a contract!

OFFERINGS / MODULES / FEATURES

Maintaining a clause library

Common language can be captured in a shared library of terms that can be used during contract generation and in downstream negotiation. With EliteContract, users can select pre-approved clauses from a clause library that can be added to a template and reduce reliance on Legal Departments.

E-Signatures

EliteContract has an inbuilt electronic signature module, allowing contracts to be signed within seconds straight from the software. E-signatures are more reliable than ink, and faster and easier too.

Generate agreements using pre-approved templates

Configure custom templates for your most common types of contracts, including NDAs and other contract types giving you complete control over your document generation activity. Those who are creating the document can then from a pre-approved template library to ensure they have the most up-to-date version. This helps minimize contract risks associated with outdated language. Legal and contract teams who administer contract templates can easily apply rules to the contract process to enforce the best contractual terms for the organization.

Key Milestones

Track key milestones of a contract and get alerts when contract activities are past their due dates. Alert stakeholders to critical dates and milestones so that risk is minimized across the organization. Monitor deadlines and milestones with e-mail notifications, reports, and KPI tracking tools.

Electronic Workflows

Dedicated workflows for the approval of contracts depending on types of contracts and amount of contracts; More than 1 person can approve the contract before its ready for signing.

External Review

Send a secure link to the contract from EliteContract to easily collaborate externally with prospects, vendors and partners to share, capture feedback, and negotiate as well as sign the contract without introducing the risk of using email attachments.