Contract Repository
Full visibility of all contracts, and single source of truth for your business documents.
Act on your agreements with full insight and confidence.
Store all contract documents in single dynamic contract folders, customized by contract types. CLM software for modern legal teams to extract intelligence from contract data. Simple or complex contract process can be implemented and stored in repository with no code and no training.
Single Repository
Contract types to match business process
Contracts in all stages, like negotiation or approval and waiting for signature are always available in single contract repository. Metadata or contract fields can be customized from existing library of frequently used properties or can be newly created based on business requirements. Search contracts by tags and export data for analysis
Create Contracts
Store any contracts, third party paper to legacy
Contracts added to ContractPrime are tagged with metadata. Upload tool extracts metadata automatically along with OCR process, so reporting is always accurate across your entire organization’s contract data. Capture additional details by integrating with applications like SalesForce or CRM, so manual data entry can be avoided
Find and Analyze
Business decision backed by contract data
Get answers to your business questions like finding exposure to interest rate increase or determining renewal dates of all contracts for a department. Legal or business users can generate report without IT help from contract repository and export to Excel for further analysis. Security framework can be based on contract types or general counsel requirements. Invite people to view documents for limited time on ContractPrime collaboration platform
Execute Contracts
Obligations and Responsibilities
Set alerts to be notified when conditions change in the contract, like when obligations are not met. Integrate with compliance module and to report compliance score across organizational or governance requirements. Business can run on auto mode with workflow process triggered by users or contract data. Data detection rules purges data so you are protected that only valid information is stored in contracts
Offline Access
Access from anywhere and anytime
Sync your contract documents to local system. Make changes to contract documents and upload changes to cloud automatically or on demand. Outlook integration allows emails and attachments to be saved to contract folders with simple drag and drop. Access full DMS functionality from Outlook without need to switch between browsers, apps, or outlook.
Frequently Asked Questions
Can Contract Repository accommodate different types of contracts and stages
Indeed, ContractPrime contract repository is highly versatile and can handle contracts of various types and stages. You can create dynamic contract folders tailored to specific contract types, ensuring seamless organization and easy access. Contracts in different stages, such as negotiation, approval, or awaiting signatures, are readily available within the Contract Repository.
Is technical expertise necessary to implement and use Contract Repository
No, ContractPrime is designed to be user-friendly and does not require any coding or technical skills. Implementing simple or complex contract processes can be done within the platform without the need for specialized training. Its intuitive interface allows legal teams and business users to navigate and utilize its features effectively.
How does ContractPrime ensure data accuracy and reliable reporting
ContractPrime utilizes advanced Contract Lifecycle Management (CLM) software with Optical Character Recognition (OCR) capabilities. This technology automatically extracts metadata from contracts, ensuring accurate and standardized reporting across your organization's contract data. With reliable data extraction, you can trust the insights derived from the Contract Repository.
Can Contract Repository integrate with other applications used in our organization
Yes, ContractPrime seamlessly integrates with various applications, such as SalesForce, CRM, or ERP systems. Integration with these third-party applications enables capturing additional contract details and synchronizing data, reducing manual data entry and enhancing data consistency within the Contract Repository.
How does Contract Repository support compliance and risk management
ContractPrime ensures a robust security framework, granting access to contract data based on contract types or general counsel requirements. The platform also allows setting up alerts to notify stakeholders of contract condition changes and unmet obligations, thus mitigating risks. Integration with a compliance module aids in monitoring and reporting compliance scores across organizational or governance requirements.
Can Contract Repository facilitate collaboration among team members
Certainly. ContractPrime fosters seamless collaboration among legal professionals, business users, and other stakeholders. Its collaboration features enable secure sharing of contract documents with specific individuals for a limited time, facilitating real-time communication, feedback, and approvals within the Contract Repository.
How can I generate reports and analyze contract data in Contract Repository
ContractPrime provides robust reporting and analytical tools to derive insights from your contract data. Legal and business users can generate detailed reports, such as exposure to interest rate increases or contract renewal dates for specific departments. These reports can be exported to Excel for further analysis and data-driven decision-making.
Is Contract Repository data accessible offline
Yes, ContractPrime allows offline access to contract documents through OneDrive integration. Users can sync their contract documents to their local system, work on them offline, and automatically or manually upload changes to the cloud. This feature ensures productivity and accessibility even in low-connectivity situations.
Does ContractPrime offer training and support for users
Absolutely. ContractPrime provides comprehensive user training to ensure that your team can fully leverage the platform's features and benefits within the Contract Repository. Additionally, their support team is readily available to assist with any queries or issues that users may encounter during their contract management journey.