OpenSourceCM’s Contract Management Software's Features and Benefits
Here at openSourceCM, we pride ourselves on effectively and efficiently servicing your business through our contract management software. Through our software, we help manage all stages of your contract management lifecycle with seamless integration, fixed to the processes of your company and industry.
Today, we want to extend a helping hand, since we know you may or may not be ready yet to integrate contract management software with your business. We are discussing the features and benefits of our (openSourceCM’s) contract management software.
Benefits of Contract Management Software
Having provided powerful software-as-a-service (SAAS) contract management solutions for well over a decade now, we expect new visitors to our website to ask themselves, “Who really cares what the features are if I don’t even know what the benefits of this software?”
You want to know the how and why implementing contract management software into your business’s processes is right for you. We get it.
Well, when you implement our software with your business, we like to say you will encounter four key benefits.
Insight for CEOs
As a CEO, you are the head of your company. You know the ins and outs of your company’s strategy, processes, and efforts. Thus, it can only be comforting to know that when you use a contract management system, like openSourceCM, you are gifted with a platform that formats all of your tactical and strategic insight concerns into easily visible pages, accounting for all deals and contracts you create across your organization. With contract management software, you gain a realistic picture - not just a model - of how your business operates.
Transparency for CFOs
As a CFO, you account for the financials of your business. You know where, how, and why money is spent, acknowledging overhead, assets, inventory, contracts, etc. A contract management platform, like openSourceCM’s, provides you with the transparency required for effective financial oversight of your company’s contracts. Our software automates comprehensive reports, that include sensitive information, and high-impact contracts to “float up” to your attention.
Oversight for General Counsel
As the general counsel for your company when negotiating and signing new contracts, you need to manage risk more efficiently, reduce exposure, and improve compliance with those your company partners with. Contract management software does exactly that, providing you with a seamless system for tracking and divulging new and old information to your higher-ups.
Efficiency for Contract Managers
As a contract manager, you need a system that enables you with greater control over contracts. A contract management system enables efficiency when managing contracts, accelerating all stages of a contract’s lifecycle, including the development, negotiation, execution, and reviewal and renewal stages.
Features of Contract Management Software
OpenSourceCM offers a plethora of features as part of our contract management software. On our Features page, we like to advertise four main features, including:
Customizable contract profiles
Monitoring, alerts, and calendar
Search and flexible reporting
Access rights and security
We will delve further into these in a moment, but first, for a more comprehensive list of all of the features included in openSourceCM’s contract management software, visit our Pricing Page, which categorizes into tiers the features we offer, OR, visit our feature’s White Paper, where we teach you important contract management considerations, answering questions like:
Where do I need help in my contract processes?
Who on my team will benefit from a contract management system?
Is there a specific contract-related problem I need to fix?
What are the key features I must look for when selecting a solution and vendor?
The feature’s white paper is especially excellent as it provides detailed explanations of each feature that is included in a contract management system like ours.
Customizable Contract Profile
One key feature of our platform is the ability to create an unlimited number of customizable contract profiles.
What is a contract profile, though?
A contract profile is a term sheet, an all-in-one place in a contract management system, where you can track business processes and meta-data in a folder-ized view and on a document level. Additionally, with term sheets (contract profiles) you have the ability to secure and encrypt sessions with tiple-DES 2048 bit passwords.
Specific data that you can track include start and end dates of a contract, award dates and contract value, milestone reminders, relevant stakeholders, and more. This data sits at the heart of being able to control a contract’s risk and improve your ability to generate contract management decisions, ultimately improving your company’s bottom line.
With this software, you can create any number of contract profile templates and easily edit them.
Monitoring, Alerts & Calendar
The second key feature of our contract management software is the ability to monitor a contract’s progress, including the option to set alerts and add milestones and reminders to your integrated calendar. Keep on top of a contract’s commitments and obligations by tracking dates on every contract document you upload into your system. All contract notifications are displayed within the calendar and contract’s profile.
Search and Flexible Reporting
The third key feature of our contract management software is the ability to search for relevant information in any of your created contract profiles, as well as create reports with advanced customization to tailor a contract’s tracking to a broad and/or narrow scope of users and industries.
Most companies create their own reporting templates. We help drive this process during the software onboarding process. Even a simple term sheet search, or document search, can be turned into a powerful report with the option of exporting it into various formats. Lastly, reports can be scheduled to run automatically or on a regular basis, and saved or sent to a list of predetermined recipients.
Access Rights & Security
Our fourth and final feature is one we briefly glanced over, which is the ability to incorporate stringent, industry-standard security settings, protocols, and procedures.
With openSourceCMs’ contract management software, access rights allow you full control over who sees, edits, or executes your company’s contracts.
Pricing and DEMO
We, here at openSourceCM, strive to make our software’s pricing as transparent as possible, designed with three-tiered solutions, for:
Small businesses
Medium-scaling businesses
Enterprise businesses
Additionally, as a precautionary method for you, we offer the option to schedule a demo with us before you make up your mind on a solution. We work with you to tailor our software to best fit your company’s needs.
Try a FREE DEMO of our contract management software today to see how it will extensively save you time while writing out legitimate, groundbreaking contracts. Pricing includes three separate contract management software options, scalable to your business.
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API (application processes interface) uses to connect to company applications, added a secured Deal-Room/Data-room, bidding system, and allow external users to log in to their dedicated data-room.
Now the company can have (BI) Business Intelligence processes with Reports and AI (artificial Intelligence) integration for document analysis and data extraction processes.
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opensourceCM is a cloud-based SaaS (software-as-a-service) solution. When uploading a text or MS Excel document the application performs OCR, indexing and then recreates each document as an HTML document allowing easy document comparisons (e.g., between MS Word and scanned PDF docs). It also has the capacity to find words, values, phrases, terms of art, or specific legal language within documents that are hyperlinked to the actual highlighted location in each document. This can be accomplished across document data sets that may comprise tens of thousands of documents. Furthermore, opensourceCM provides a contract authoring workflow, calendar and notifications workflow, support SSO (single sign-on), and encrypted secured access. The application offers the ability to simply create Negotiation Deal-Rooms and Users Data-Rooms (internal/External) or Flexible Bidding System with Advance Q&A. We offer an API (Application Processes Interface) Library like office 365, BOX.COM, Salesforce, MS-Dynamics, NetSuite, OKTA, Dropbox, DocuSign to mention just a few.
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