Contract Lifecycle Management Using Microsoft 365
Updated: November 20, 2024
Summary
In this webinar, the engagement specialist at Doc365 delves into managing contracts using Office 365. He covers the contract life cycle stages such as template authoring, creation, review, approval, execution, performance, expiration/renewal. The presentation emphasizes the importance of centralizing contracts, enhancing visibility, controlling access, and ensuring compliance through the Doc365 contract management system. The system offers features for automating workflows, tracking system changes, managing permissions, and providing OCR capabilities as a paid add-on. Viewers are encouraged to sign up for a free demo to explore the system's functionalities firsthand.
TABLE OF CONTENTS
Introduction and Agenda
Defining Contract Lifecycle Management
Template Authoring
Contract Creation
Contract Review
Contract Approval
Contract Execution
Contract Performance
Contract Expiration and Renewal
Common Contract Management Pain Points
Solution Overview: Doc365 Contract Management System
System Changes Tracking
Contract Management Control
Full Demo Preview
Contract Migration Service
Working with Other Countries
Support and Training
Client Specifics
OCR Capability and AI
School Board Clients and Pricing
Demo Sign-up and Contact Information
Introduction and Agenda
Quentin Russell, the engagement specialist at Doc365, introduces the webinar on managing contracts using Office 365. He outlines the topics to be covered in the webinar.
Defining Contract Lifecycle Management
Discusses the stages of a contract's life cycle including template authoring, contract creation, review, approval, execution, performance, and expiration/renewal.
Template Authoring
Explains the process of template authoring for contracts, the importance of ongoing template maintenance, and the evolution of contract language within an organization.
Contract Creation
Discusses the process of contract creation, including request/intake processes, collecting important information, and internal vs. external contract creation approaches.
Contract Review
Explains the review process for contracts, considerations for different types of contracts, and the negotiation of terms between parties.
Contract Approval
Discusses the importance of internal approvals for contracts, the involvement of different stakeholders, and the communication required during the approval stage.
Contract Execution
Explains the process of contract execution, including the use of e-signature solutions, filing contracts, and the significance of contract performance throughout the life cycle.
Contract Performance
Highlights the management of contracts post-execution, focusing on tasks, obligations, tracking services, and using key performance indicators to ensure contract compliance.
Contract Expiration and Renewal
Discusses the critical stage of contract expiration and renewal, emphasizing the need for tracking expiration/renewal dates and the financial impact of missed deadlines.
Common Contract Management Pain Points
Identifies common challenges in contract management, including lacking a central repository, contract visibility, inconsistent language, manual processes, and lack of control over contracts.
Solution Overview: Doc365 Contract Management System
Provides an overview of the Doc365 contract management system, its features for centralizing contracts, controlling access, automating workflows, and enhancing contract visibility and compliance.
System Changes Tracking
Explaining the ability to track system changes and contract stages using SharePoint and Office 365 user groups for easier management of permissions and access.
Contract Management Control
Detailing how contract management is controlled on a contract-by-contract basis and how easy it is to add or remove users from contracts within the system.
Full Demo Preview
Offering a brief overview of the contract management system and inviting viewers to sign up for a more in-depth free demo on the website.
Contract Migration Service
Providing information about the contract migration service as a paid option for importing contracts into the management system.
Working with Other Countries
Explaining the use of standard Office 365 translations when working with other countries and the support provided during the deployment process.
Support and Training
Detailing the support and training provided, including configurations, training process, and the ability for users to make system configurations independently.
Client Specifics
Addressing questions about higher education and municipal clients, as well as non-profit discounts and the searchability of contracts within the system.
OCR Capability and AI
Discussing the OCR capability as a paid add-on and the development of full AI capability expected by the new year.
School Board Clients and Pricing
Mentioning the availability of school board clients in the United States, pricing structure, non-profit discounts, and the teams integration for easy access to the system.
Demo Sign-up and Contact Information
Encouraging viewers to sign up for a demo through the website form or by calling, providing LinkedIn contact details, and concluding the presentation.
FAQ
Q: What are the stages involved in a contract's life cycle as outlined in the webinar?
A: The stages include template authoring, contract creation, review, approval, execution, performance, and expiration/renewal.
Q: Can you explain the importance of ongoing template maintenance for contracts?
A: Ongoing template maintenance is crucial to ensure that contract language evolves within an organization and remains updated and relevant.
Q: What are some common challenges in contract management highlighted in the presentation?
A: Common challenges include lacking a central repository, contract visibility, inconsistent language, manual processes, and lack of control over contracts.
Q: How is contract execution described in the webinar?
A: Contract execution involves the use of e-signature solutions, filing contracts, and emphasizing contract performance throughout the life cycle.
Q: What features of the Doc365 contract management system are mentioned for enhancing contract visibility and compliance?
A: The system features centralizing contracts, controlling access, automating workflows, and providing enhanced visibility and compliance.
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