Massachusetts-based ContraxAware aims to answer this question with its namesake enterprise-grade contract management platform. With the help of ContraxAware platform, a company can digitalize and automate the process of creating, executing, and reviewing contracts. “Unlike disconnected systems, such as spreadsheets and file servers, ContraxAware’s end-to-end solution streamlines the entire contract management process from one centralized location,” says John D’Amelio, CEO of ContraxAware.
While helping firms close deals faster, develop newer business opportunities, and stay compliant with contract requirements and obligations, ContraxAware also accelerates their business growth and increases profitability. To put it simply, ContraxAware aids companies to take complete control of their contract management process and increase productivity. Moreover, the platform is designed to be employed by every department of an organization, such as legal, IT, sales, finance, HR, and procurement. In particular, ContraxAware platform helps the procurement department get instant access to critical information, like past contracts and the status of current negotiations, to secure the best deals. Also, with ContraxAware’s audit trails, a company never has to deal with confusion over multiple versions of the same document ever again.
Whether it is managing existing contracts or creating new documents, ContraxAware’s cloud-based contract management software enables users to quickly and easily manage all the critical details anywhere, anytime, and on any device. Users can access information about the exact phase of a contract and receive alerts about upcoming contract renewals, incoming contract requests, and other important milestone dates automatically. ContraxAware also leverages cutting-edge cybersecurity measures to ensure the confidentiality of sensitive and business-critical information.
Unlike disconnected systems, such as spreadsheets and file servers, ContraxAware’s end-to-end solution streamlines the entire contract management process from one centralized location
“You can designate the type of access each user has through our contract management software to preserve confidentiality and mitigate risk,” says D’Amelio. Moreover, the solution maintains a log that records when users add, modify, or delete contract data.
In conjunction with the software, ContraxAware’s team of highly-trained and customer-focused professionals is consistently working toward supporting its clients with best-of-breed contract management practices. ContraxAware also offers one-on-one training to help clients utilize ContraxAware’s solution to its fullest potential. That being said, ContraxAware features built-in training walkthroughs composed of step-by-step onscreen instructions that guide a new user with the different features and functionalities of the solution. Another of ContraxAware’s services that clients benefit from is data migration services—to move contract documents and other related data from their existing database or spreadsheets into the ContraxAware software. “We provide you with a data import template and ensure that your data is clean and standardized,” says D’Amelio.
With ContraxAware’s attention to such minute details, it is evident how the company intends to empower its clients and help them improve their contract management process. Through streamlined contract monitoring workflows, clients can increase their bottom line also build better relationships with counterparties. Moving forward, ContraxAware intends to continue working with the same zeal and stay abreast of all technological developments to expand its solutions and services portfolio and fortify companies in an evolved business milieu.