In life, it’s easy to get stuck with a certain way of working, even though it might not be the optimal solution or it could even actually be pretty bad. This is true also for contract management. We get stuck with the same habits, bear up with the same little inconveniences and jump through the same hoops. Over and over again.
But is it finally time to break free?
Here are some questions you can ask yourself about your current contract management. Evaluate your current situation and decide if it’s time to move on.
Q1: Do we have a single place for all contracts?
Are you really managing contracts – or trying to control a chaos? If your contracts are everywhere and not really anywhere (on personal PCs, network drives, email, piles of paper), it’s definitely time to move on.
Q2: How fast can you find a specific contract?
If it takes more than minutes to find the contract you need, you’re not spending your time as you should. Finding contracts should be like using Google: enter a keyword or a piece of text, hit Search and the things you need are shown to you in a blink of an eye.
Q3: Is anyone really using your current system?
Having a contract archive and actually getting contracts uploaded are two different things. People are often lazy and a good contract archive should work around this. For example, making contract entry as easy as possible can boost the utilization rate significantly.
Q4: Are you paying too much?
In many cases, we end up paying for things we really don’t need. A feature overload can clutter the user interface, make the tool feel too complex and, ultimately, generate recurring license costs without adding enough value. If you are using most of the features, you probably don’t want to pay for them.
Q5: Is your current solution FUN to use?
Business is business but today user experience is a big part of software solutions. Uploading a contract or managing user access might not need to make you laugh, but it should never feel difficult or make you angry. A good user experience is the combination of fresh, appealing visual design and intuitive workflows carefully designed to help the user easily achieve her tasks.
Q6: Has your process been taken hostage?
How easy would it be to change your contract management process if you, say, wanted to change your digital signing solution? Are you able to move data back and forth between systems easily? A good contract management solution comes with integrations and APIs that enable data to flow freely and securely. That’s key to becoming the master of your own processes.
Q7: Are digital signatures easy to use?
A modern contract management tool comes with integrations to external eSigning services or even with a built-in eSignature tool. At the bare minimum, you should expect that all digitally signed documents get automatically archived with no manual effort.
Q8: Is your contract tool living on a deserted island?
Today, efficient processes require data that flows freely between different systems. Having a black box contract archive leaves you sitting on an isolated island. So, check that you have enough integration possibilities in order not to limit your future options.
Q9: Am I getting the customer service I deserve?
When was the last time you talked to your contract management service provider? Are they ready to help you out even after closing the deal on their solution? Don’t be afraid to reach out to your service provider – after all, your success should always be their top priority.
How did you score with the questions above? If you feel like you might need to level up your contract management solution but you’re not sure where to start, check out our Migration Guide – How to Switch to a New Contract Management System in 2023.
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