AI Platform-based Contract Management
Gaining efficiencies in your processes and delivering cost savings
Has the volume of information or the complexity ever caused your team to spend hours, or even days, verifying its accuracy? Have mistakes been discovered frequently? If the volume is too large, do they resort to sample-based validation?
Manual procedures present too many obstacles.
A number of people and tools are needed for the contract management process because it is manually driven. Inadequate contract review, poor decisions regarding renewal or expiration, communication problems leading to failures, and poor compliance monitoring are just some of the difficulties that must be overcome. Tasks like these are labour-intensive, boring, and error-prone and would be well-suited for automation.
How can an automated contract management solution help you?
Wouldn't it be great if you could streamline your company's contract management procedure and save money without having to invest heavily in new personnel or technology?
Utilizing your existing MS licenses, the 10xDS automated contract management solution can help you manage contracts within an organisation, from contract creation to the archival of the final, approved contract.
The solution, which was designed and implemented using the Microsoft platform, can assist you in:
- Creation of pre-defined templates as per contract nature
- Quick creation of contracts based on available templates in a few clicks
- Submission of final contracts for review and approval with reminders to the reviewers
- Storage of all approved contacts in a safe and secure repository
- Upload the received contracts, compare contract versions, and note any discrepancies to reduce negotiation time.
- customised reports and dashboards for contract monitoring, with automatic alerts to remind contracts when they are up for renewal.
Benefits of Automated Contract Management
With the automated solution, tasks can be performed more consistently and reliably than with human labor. Errors and clerical mistakes are, thus, greatly diminished.
The solution can perform tasks such as data editing, operations, and others at tens or hundreds of times the speed of human labour because it does not require the physical manipulation of devices.
The solution lessens the requirement for human involvement in specific processes, freeing up workers to focus on higher-value tasks.
Leveraging existing M365 licences does not incur extra cost, thereby maximising ROI.