CONTRACT MANAGEMENT

The Contract is the reflection of an ever more complex reality. As globalisation of the economy increases there is a reinforced need for the legal requirement of international contracts. The drafting, negotiation and monitoring of the performance of the contracts are difficult and even more so without the support of new information technologies and communication.

The Modular structure of the Legal Suite Software corresponds to the diversity within the practice of law, the key being to adapt to actual and future methods of working.

Information Technology can provide the legal profession with genuine added value. The Legal Information System allows counsel to accelerate the drafting of contracts and delegate the drafting of recurring contracts while maintaining the security of these documents. It is also a means of disseminating the contractual policy within the company and allowing counsel to focus on strategic issues.

Advantages to a Contract Management Software Solution:

• Saves time, increases productivity and responsiveness with regards to drafting
• Identification of all the key articles and terms used in agreements
• History of negotiations and relevant documents
• Automated review and validation (workflow)
• Information sharing and harmonizing contractual best practices
• User friendly, quick data entry and quick access to data
• Visibility of data and all contracts, increased transparency
• Better understanding of what's at stake
• Better compliance to laws and procedures
• Effective monitoring of the life of your contracts
• Monitoring of commitments and decisions with automated alerts
• Rapid extraction of reports and statistics

Providing a company with a tool to manage its business contracts allows for good project management, reliability of legal knowledge as well as capitalising on legal know how. Legal Suite CONTRACTS module contributes to establishing and preserving the memory of the company and to controlling risk.