Top 10 Reasons to Automate Your Contracts in 2010
In this, our final post for 2009, we’d like to wish everyone a Happy New Year and share with you the top 10 reasons to automate your contracts in the coming year.
By automating your contracts process you can:
- Reduce the risk of using non-standard or incorrect contracts, templates or language
- Reduce the expense involved in creating contracts
- Decrease the time it takes to create and negotiate the contracts on your paper
- Increase compliance with policies and procedures
- Globally update your templates and language once and immediately for everyone in your organization
- Spend time on high value business instead of creating and reviewing repetitive, mostly standard contracts
- Rate your contracts according to their value to your organization and incent your business people to create great contracts
- Create contracts through a browser so you don’t have to worry about supporting or maintaining a desktop application
- Integrate your contract automation with CRM, ERP, and other systems so you only input data once and capture everything at the end
- Optimize your contracts with the most favorable business terms for your organization
So there’s our parting wisdom for 2009. Did we miss any good reasons to automate the contracts process? Please let us know in the comments below.