The pandemic forced everyone to leave their offices. People had to move to remote work or work from home to escape their offices. It was initially difficult to work remotely. A large percentage of professionals, as well as a lot of the working population, didn’t have the resources or tools necessary to work from home.
Many of these people lost their jobs or had their careers changed to make it possible to survive in tough times. Two years have passed since the pandemic struck, and our work lives have changed dramatically. Many offices have moved to remote work or are working from home. However, many organizations and offices in different parts of the world still find it difficult to work remotely because of their circumstances.
The positive spirit of the working class and the various digital tools and software designed for the workplace by software giants and brands made it possible to work from home. It is thanks to digital transformation that we can work remotely without failing.
Many employees were open to learning new skills and moving to digital transformation to keep their jobs. Employers and employees have used various digital tools to make working remotely easy and efficient. This is how digital transformation allows remote workers to be productive using contract management software and tools.
How Digital Transformation Makes Contract Management Remote Work Easy
Every day, businesses need to create or develop contracts. These contracts complete the contract lifecycle and become legal and valid. Businesses can create legal documents and contracts using various contract management software. Businesses can also use contract automation to make creating and validating legal documents easier and more seamless.
Every business needs legal documentation and contracts. Digital transformation allows businesses to streamline contract management using software, making it digitally accessible. ContractSafe has helped many businesses make the digital transition while they work remotely. ContractSafe is a platform that offers contract management, esignature, and even estamping services to businesses, professionals, and individuals.
Even though you were at work, having all your contracts stored on-site in filing cabinets or other servers was a problem. This problem is even worse now that businesses are moving to remote locations. Contracts are distributed worldwide, so there is no single source for truth. This is very concerning for compliance reasons.
Your team can upload contracts to a cloud-based central storage area. They can also access it from anywhere. Document repository as part of a CLM allows you to not only move your legacy documents but also import, parse, and attach metadata. All your contracts, past and present, can be searched, taggable, and made more trackable with contract metadata. Imagine a time when you had to manually search for Force Majeure or cancellation clauses in all of your active contracts. Imagine how much easier it would have been if you could digitally search across all your contracts.
The following apps can be used as storage but are not intelligent contract repositories. You will need to integrate with other tools to get tracking, clause, full-text-pdf search, and contract analytics.
Secure Contract Repository
Remote contract management companies need a central contract repository to store contracts. CLM document repository allows contract management professionals to store and organize contracts. It also retains document version control. Users can quickly locate legacy contracts and track approval statuses.
Contract storage does not just refer to where documents are stored. Instead, organizations have the opportunity to make contracts work for themselves by storing them. Organizations can use secure contract storage to consolidate document version control, improve accountability, and increase productivity. This gives them a powerful tool for navigating turbulent times.
Every day, professionals and businesses need to sign legal documents and contracts. These businesses can now shift to digital platforms and digitally sign legal documents and contracts to ensure smooth business operations.
Intelligent Contract Workflow
Organizations can use contract management software to automate workflows. It prompts the right people with unlimited contract notifications, alerts, and task reminders. Intelligent automated workflows can transform the contract management process in and out of the office. Features include contract process management, audit trails and user-definable fields. Reporting and analytics tools are also available.
Automated workflows that track each stage of the contract lifecycle can be used to improve negotiation and oversight. Automated alerts enable organizations to meet important milestones and dates, including renewals. CLM also provides an audit trail history that can be logged to provide organizations with a current record of any changes to a contract.
Thanks to an intelligent, automated workflow system, you can rest assured that your workflow will be uninterrupted when you’re away from the office.
You must have a solution that allows you to effectively source-to-contract when organizations move to a work-from-home culture. ContraSafe offers a variety of features that enable organizations to manage their contracts better, securely unite documents and contracts, monitor compliance, track costs and receive alerts. Organizations can also sign electronically with electronic signatures and reduce the high cost and squandered productivity that results from poor contract management.