Digital Contract Management Workflow

The main purpose of digital contract management workflow is to facilitate the whole approval procedure of previously drafted documents. Here’s how your company can make the most of it with Nectain.

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Streamline

Enhance Contract Lifecycle Management

Nectain’s contract management workflow takes Contract Lifecycle Management to the next level or CLM. You can also easily optimize the process of contract preparation, negotiation, validation, and signature collection.

Support

Assistance During the Lifespan of a Contract

Nectain fully assists your company during the whole lifespan of a contract: from the creation of a legal agreement (using a relevant template) to the implementation of amendments and to the collection of signatures in both the traditional and the digital way.

Accessible

Easily Available for Users

After the digital version of a contract is saved in the digital repository, it is easily available for employees with authorization. And the connection to ERP systems allows it to be used in the process of cost allocation.

Main Advantages of Nectain
for Your Business

With Nectain’s contract lifecycle management system, your company can automate its workflows and send timely responses.

Expedite

Faster Contract Approval Process

Speed up and boost the efficiency of the contract approval process while adhering to your company’s rules and algorithms. Nectain processes the approvals digitally (on a mobile device or in a browser), so employees can have a much easier time and focus on higher-value tasks.

Accelerate contract approvals swiftly

Streamline

Agreement Templates Availability

New agreement templates are instantly available. As a result, employees won’t have to spend time finding suitable document templates. Ultimately, this helps avoid mistakes associated with using incorrect templates.

Access templates instantly

Automate

Automatic Contract Creation

Automatic contract creation saves your company a lot of time. The contract sample is filled with information (contract terms, conditional causes) taken from various IT systems or a Nectain-powered form.

Create contracts automatically

Digitize

Digital Signing Process

Signing important documentation manually is not the most transparent or fastest option. Nectain alleviates these issues by enabling digital signatures, which can be collected and recorded in a matter of seconds.

Sign documents digitally

Centralize

Reliable Digital Repository

A digital repository is far more reliable than a physical archive, which is vulnerable to loss or permanent damage. Nectain’s centralized data repository enables authorized staff to intuitively and securely store, manage, and retrieve contracts.

Store contracts securely

Track

All Modifications Are Maintained

Keep a full record of the performed tasks with Nectain. The system keeps track of even the smallest contract modification, recording it in the system and making it accessible for auditability or process audition.

Record all modifications

Clarify

Easy Decisions During Negotiations

Nectain supports the recording of business and legal risks, which clarifies the procedure and ensures responsibility for decisions made during important negotiations.

Facilitate decision-making easily

Optimize

Efficient Resource Usage And Optimized Procedure

Nectain’s contract lifecycle management system tracks the time spent at various stages of document creation, modification, and completion, optimizing resource usage and the entire process.

Enhance resource efficiency

Optimize Digital Contract Management
Workflow With Nectain

Step
Creating a contract

An user who has a required authorization usually starts preparing an agreement draft. Sometimes, the procedure begins automatically. This may be the result of actions performed inside some other IT system. For example, a client approved your offer and this was logged in your CRM.
Step
Editing the contract

It’s possible to edit the document an unlimited number of times. As each version is saved, you can review a history of changes, compare several versions, and approve the most suitable one.
Step
Discussion of the contract

Each document comes with a chat function, which enables you to discuss edits with your colleagues. All correspondence is saved, so all suggestions can be easily found when reviewing the contract or even months or years after its agreement.
Step
Storage in the archive

Once the counterparty signs the contract, it enters Nectain and can be sent for storage in a secure archive or external systems of your choice using the integration module. You can easily find contracts in the archive whenever needed, viewing the entire agreement process as well as previous comments and versions.
Step
Easily enhance the digital contract management workflow

Your team can easily enhance and modify the digital contract management workflow during system implementation and maintenance. This flexibility includes adjustments to organizational structure and procedures, both before and after the solution goes live.

The Top Nectain Features Simplifying Contract Lifecycle Management

Nectain is powered by our proprietary low-code platform, Nectainium. Therefore, the following fundamental features are readily available for document management workflow and contract lifecycle management.

Workflow Integration

Constantly improving the digital contract management workflow through the incorporation of new connected processes like payment processing, counterparty validation, registration, and invoicing orders.

Custom Approval Workflow

Building a custom document confirmation workflow. This includes complex conditional approval, which fully takes into account your company’s unique organizational structure and the individual parameters of a chosen agreement type.

Browser & Mobile Access

Entering the program and executing the operations connected to the document confirmation process through a browser or relevant mobile application on Android or iOS.

IT Systems Integration

Integrating with the company’s IT systems to utilize various dictionaries and complete agreement parameters.

Comprehensive Reporting

Generating clear and accessible reports on agreements in process, including records of modifications and approvals.

Barcode Management

Taking care of barcodes to enhance the process of scanning an agreement.

Process Optimization

Identifying and resolving inefficiencies in the contract approval process and implementing necessary changes.

System Scalability

Handling large volumes of information and a substantial number of employees through built-in system scalability.

Task Delegation

Effectively approaching work delegation and short-term substitutions.