Dolphin Contract Manager
Why manage contracts?
According to Gartner Group, contracts govern around 60-80% of business-to-business transactions. So it’s not surprising to discover that more than 50% of all litigation cases are directly related to contracts and contract disputes. For most organisations the process of drafting, reviewing and approving contracts can involve several different groups of people, both internal and external. This contract lifecycle process requires a significant investment; costing them valuable resource, money and time.
According to Forrester Research, it takes an organisation 3 to 4 weeks for internal contract approval.
Once the contracts have been signed they’re typically stored in a variety of formats and locations where key contractual information like; renewal dates, expiry dates, KPI targets, penalty charges, bonus payments, etc., are lost to the organization.
Procurement and commercial contracts contain a mixture of critical dates, obligations and deliverables that need to be managed effectively to achieve maximum value from the contract and the business relationship.
The Solution
Dolphin Contract Manager (DCM) is a best-of-breed contract lifecycle management solution, based on the Microsoft SharePoint technology platform and has been developed to manage and automate each key stage of the contract lifecycle process.
DCM is a highly flexible solution that caters for both contract specialist users like; legal and procurement as well as non-specialist users like; business managers, finance and sales professionals. DCM provides unique user permissions and access to the system’s functions, modules and contracts based on the user’s job function and role in the organisation.
Dolphin Contract Manager Lifecycle process
DCM is comprised of 6 key components that address each stage of the contract lifecycle process:
1. Contract Discovery: (with Seal Contract Discovery)
Obtain instantaneous visibility of your all contracts and contract drafts, their context and milestone information.
2. Contract Creation:
Using Smart Templates (Microsoft Word) in conjunction with our legal clause library and clause picker.
3. Essential Workflow:
Key contract workflow and approval provided with the solution.
4. Contract Negotiation Space:
Allows collaboration between the parties avoiding errors, delays and duplicates during the red lining process.
5. Manage:
Central, secure and searchable repository for all contracts and related documents.
6. Performance and Tracking:
Management dashboard including; milestone alerts for those responsible for managing the contracts and contract reporting.
Seal Software Group - www.seal-software.com
By Guest Blogger: Seal Software Group
