Contract Lifecycle Management Using Microsoft 365

Updated: November 20, 2024

Dock 365


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.


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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