Regardless of your industry, contracts form the foundation of your business. And every contract goes through the same lifecycle, beginning from the moment it is requested, through creation and execution, and post-execution, when you monitor compliance and ensure your contracts are optimized for maximum benefit to your company.
Managing contract lifecycles is often challenging for companies thanks to inefficient processes and inadequate technology. The result is often lost revenues, not to mention an increase in risk to the organization. To solve this problem, Exari has created a comprehensive, end-to-end platform to solve your contracting woes, while ensuring that your contracts are working for you.
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The contracting process with Exari Contracts can be divided into three distinct stages: Pre-Execution, Collaboration, Control and Workflow, and finally Post-Execution.
In the Pre-Execution phase, your team can either request or create contracts based on the specific needs and purposes, using Exari DocGen’s intuitive self-service contracting interview to save time and reduce risk.
During the next phase, your teams can negotiate contract terms, approve the language and execute the final version of the contracts. During this phase, Exari Contracts can flag potentially problematic clauses to reduce risk, maintain audit trails for complete version control, and allow agile contract review via intuitive workflows.
Finally, in the Post-Execution phase, your vital contract data is extracted with Vision, structured via the UCM, and intelligently organized within a centralized repository. This provides immediate access to prevailing terms and fingertip access to over 25 standard reports and ad-hoc reporting capabilities, ensuring that your company complies with all obligations during the life of the contract – and that all ongoing amendments and other risks are managed as needed.
What’s more, Exari Contracts also proves a set of tools to more easily manage contracting at scale across entire enterprises:
Contracts are a key part of your company’s success, and are full of data that can be used to determine the right strategic direction – and alert you to potential risks in the future. Exari allows you to put that data to work to improve efficiency, increase revenue, and effectively manage risk.