SharePoint Online for Contract Management Software: Does it Make Sense?

by Tech Geekk writer
A contract management system is among the most crucial requirements for any enterprise since they are vital to achieving enhanced efficiency, better customer satisfaction, improved productivity, and so much more. Now, considering their importance to enterprises, it comes as no surprise that the market is brimming with solutions that claim to deliver top-notch contract management and myriad other related functionalities. But choosing a contract management system for an organization is a delicate matter, one that involves careful consideration of what is to be offered, what is the requirement and expectations, etc.

And, while there exist a lot of CMS systems, there is a handful that consistently fares among the top choices for a vast majority of enterprises planning to adopt such a system. And leading that race is SharePoint Online — it is a highly dynamic solution that enables and delivers a world of features and functionalities. It includes automating the entire contract lifecycle, high levels of scalability, and more. And let's not forget that it is also highly conducive to the integration with other systems used across any enterprise, including OCR software, business intelligence, ERP, and CRM, among other things. Nonetheless, allow us to walk you through some of the other benefits of using SharePoint Online as a contract management system.

  1. Proper workflow for approvals: The workflow for approvals can snowball into a complicated mess far too quickly. And to avoid such situations is why one needs appropriate workflows. To help with that, SharePoint Online ensures that a contract is automatically routed towards the pre-designated set of people in the company for approval. Additionally, the system offers the scope to set up approval workflows with several stages and high complexities without breaking a sweat. And to make things even better, these workflows are typically based on rules and inclusive of the automatic routing functionality. There is a dashboard where one can also see the updates and the contract's current status easily.
  2. Collaboration: Even if you know are only vaguely familiar with Microsoft; you know that it is highly conducive for collaboration. And, SharePoint offers such functionality, providing an agile authoring ecosystem that ensures seamless management of the entire process involving contracts. And not only that, enterprises, thanks to an efficient contract management system such as SharePoint, can attain enhanced productivity.
  3. Central database: Seamless movement and functioning for any organization are highly dependent on quick access to relevant information, files, contracts, data, and more. With SharePoint, you get a centralized database for storing and managing contracts, documents, etc. And if you are worried about the security of this database — the fact that it is a Microsoft product is enough assurance. SharePoint does have security features, like authentication, to safeguard all your data and documents appropriately.

It is clear from the above discussion that SharePoint development stands to benefit any business immensely, with benefits such as scalability, ace security, document version control, and more that makes choosing SharePoint a no-brainer, doesn't it?

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About Tech Geekk Advanced   writer

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Joined APSense since, March 9th, 2016, From San Jose, United States.

Created on Apr 14th 2020 05:44. Viewed 542 times.


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