One simple way to make more money from your contracts

Feb 21, 2017 by Brandon Snyder

How can you make more money from your contracts?  Manage them better.  

The problem with contracts...

Employees are storing contracts everywhere.  From email programs, to personal workstations, to shared folders on servers and even as hard copies in filing cabinets - managing contracts is clumsy and inefficient.  With contracts existing in so many places, and often requiring multiple signatures from different parties, its no wonder deadlines are missed for easy revenue renewals.  Let’s not forget penalty fees associated with some missed contract deadlines.  All of this means many organizations aren’t capturing the full value of their contracts.  

How can you better manage your contracts?

A growing number of organizations are deploying contract lifecycle management systems to make easy work of, and capture more revenue from, their contracts.  Purpose built, cloud based CLM solutions, like M-Files, are leading the charge in this effort.

 m-files-for-contract-lifecyle-management

Watch this video to learn more about how M-Files makes easy work of managing contracts.

3 benefits of a CLM solution? 

In Streamlining Contract Lifecycle Management (CLM), M-Files outlines 3 primary benefits to utilizing a CLM solution:

  1. Contracts are securely and reliably stored in one, universally accessible destination 
  2. Individuals involved in contract negotiations can quickly access the right documents when they need them
  3. Productivity is boosted because users no longer spend a lot of time tracking down contracts

20%

The average employee spends about 20% of their day tracking down documents.  It’s no different for individuals who manage contracts.  Contract management solutions like M-Files make finding the most up-to-date version of a contract as simple as a Google search within the system.  Imagine what it would be like to get 20% of your day back?  


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