6 Tips to Overcome Common Contract Management Issues: How ALOE Can Help Your Legal Team
Contract management issues affect every legal office, regardless of size. The complexities and challenges of managing legal contracts can be time-consuming and frustrating, slowing down processes and creating headaches for teams. Fortunately, Bigfork Tech offers solutions that simplify contract management, making it easier for your team to overcome common challenges. Let’s dive into how we can help you tackle the most frustrating aspects of contract management.
The Challenges of Contract Management
If you’ve dealt with contracts at any level, you’re likely familiar with the various issues that arise. Finding the right contract management system can be overwhelming, but our solutions are designed to ease pain points.
1. Hard-to-Find Information
Spending hours sifting through old emails for critical contract information is a frustrating experience. It’s easy to feel lost in a sea of documents and communications. Bigfork Tech’s ALOE™ Legal Project Management Software streamlines document storage with workflow automation, centralizing negotiation versions and final contracts in a secure repository. Whether integrated into your CRM for sales contract management or used as a standalone solution, ALOE ensures you can quickly access essential documents.
2. Repetitious Data Entry
Re-entering the same information across multiple documents is not only tedious but also prone to errors. Besides, it’s a waste of time. With our contract management solutions, you can set up templates and information libraries that automate data entry. This not only saves time but also avoids mistakes. Our automatic template generation fills in contract details based on a simple request form, reducing risk and ensuring consistency across your documents.
3. Missed or Unintentional Contract Renewals
Keeping track of contract expiration dates can be challenging, but it’s crucial for maintaining your company’s financial health. Missed renewals can lead to unintended
contract expirations, while automatic renewals can result in unwanted obligations. Our contract lifecycle management software tackles this issue by sending timely reminders to responsible team members and generating new contracts or amendments as needed. This proactive approach not only protects your interests but also helps recoup costs associated with the tool.
4. Diverting Focus from Strategic Duties
Contracts are necessary, but they shouldn’t overshadow other important legal tasks. Often, contract management challenges prevent teams from concentrating on high-value, strategic matters. Even larger organizations with dedicated contract teams can struggle with the volume of requests and approval tracking, leading to backlogs and missed deadlines. ALOE™ simplifies these processes, allowing your team to focus on what truly matters.
5. Gaps in Handoffs
Navigating the approval and signature process can be cumbersome. Identifying the right contacts and following up at the appropriate times often leads to delays. Automating contract approvals help fill these gaps, enhancing compliance with company standards and minimizing miscommunication. With clear visibility into where contracts stand, your team can move forward more efficiently.
6. Protracted Negotiations
Uncertainty during negotiations can lead to delays that may jeopardize deals. Our contract management solutions provide the clarity and structure needed to keep negotiations on track. By ensuring all relevant information is at your fingertips, you can expedite the process and close deals faster—ultimately driving higher profits.
Conclusion
Contract management doesn’t have to be a source of frustration for your legal team. With Bigfork Tech’s innovative solutions, you can streamline processes, reduce errors, and free up valuable time to focus on strategic initiatives. Don’t let contract issues slow you down—reach out to us today to learn how we can help you conquer your contract management challenges and improve your workflow.
Schedule a demo and find out how you can use legal software with AI technology like ALOE to create seamless workflows, improve quality assurance, and maximize your team’s potential.
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