Optimize contract lifecycle management by streamlining every step of the process
Gain better control over contract management while minimizing risk. OnBase equips organizations to manage the contract lifecycle from request to approval to expiration and renewal, automating predictable steps while providing the information and tools personnel need to drive work forward.
With an OnBase contract management solution, you:
- Securely capture and store contracts and supporting data and documents
- Provide legal personnel with a 360-degree view of contract-related information, tasks, activities and correspondence
- Automatically route contracts for review, approval and execution – even digital signature
- Receive automatic notifications of expirations and auto-renewals
- Support compliance with a full audit trail of all interactions
OnBase provides a single, central location to store, track, collaborate and take action on all documents, data and tasks in the contract lifecycle. This gives legal departments complete visibility into the contract management process, from a history of interactions with data to a clear view of current work, upcoming obligations and expirations.
Benefits of OnBase for contract lifecycle management include:
- Accelerating contract cycle times and reducing operating costs, minimizing time spent searching for information and manually routing documents
- Providing insight into contract status and staff workloads, equipping organizations to identify process improvement opportunities
- Reducing the risk of missed expirations by proactively managing contract milestones
- Minimizing delays with remote and mobile access to contracts and approval tasks
- Maximizing existing investments by linking contracts to other systems of record
OnBase contract management solutions scale to support a variety of contract types – including vendor contracts, employment agreements and NDAs – and related processes, creating a lower cost of ownership and driving value organization-wide.
And, with ShareBase by Hyland, you can easily and securely share contract versions, specifications, terms, and agreements with vendors, legal parties, and others helping speed the process along. The natural interaction between ShareBase and OnBase allows you to share relevant files automatically as part of the contract management solution, regardless of whether recipients have access to OnBase.