Trakti Smart "Legal" Contracts Blog

No-code platforms are drivers of innovation in contract automation

on February 20, 2023

Companies rely primarily on IT professionals to write the scripts needed to keep operations running smoothly.
What happens if there is a shortage of staff?
This issue can leave many organisations with interrupted or malfunctioning processes due to a lack of adequate staff and proprietary knowledge to solve the problem at the source.

The introduction of no-code automation platform resolves these problems, empowering teams of any skill level to manage IT operations seamlessly. 

What is no-code automation? 
It is simply using a tool to implement integrations and workflow automation without writing a single line of code.

No-code automation platforms allow both technical and non-technical users to automate processes through graphical user interfaces instead of traditional computer programming.

When we refer to a contract, no-code contract automation means integrating a technology innovation in the CLM process.

This integration brings several advantages to every organisation, such as:

  • improving business agility
  • adding efficiency value to the entire organisation
  • increasing customer satisfaction
  • saving cost and time for IT and Dev teams’ interventions
  • improving user experience

A no-code solution can provide several advantages to the contract automation process.

Here are some benefits that this technological innovation can bring to your business:

  • Speed of process: automation accelerates, facilitates, and improves the process. Your clients, vendors, and organisations would be positively affected by this implementation. It empowers and represents the foundation for a solid and trustful relationship with stakeholders. 
  • Adds high-value: a no-code platform adds up additional high-value like efficiency to stakeholders, improving customer satisfaction. 
  • Increases customer satisfaction: efficiency is a surplus that everyone recognises and requires.
  • Facilitates access: The use of a no-code platform for automation facilitates access to contract management.
  • Saving cost and time: a no-code platform reduces the need for IT and Dev Teams due to the simplicity and intuitiveness of its user interface.
  • Improves user experience: a no-code platform becomes the perfect corollary to automation as it makes the automation itself more accessible to anyone. 

Once again, digital innovation is the way of boosting efficiency in processes and procedures.

Processes are simplified and the user experience for the legal team and their clients get more fluid and smoother.
The implementation of no-code contract automation can rationalise and simplify your access to contract management.

Let us see how no-code empowers the legal team!

A no-code platform like Trakti is user-friendly and has been built exactly for this purpose: to simplify contract automation. Our platform is the only negotiation and contract lifecycle management platform integrated into the blockchain. Manage contract automation via Trakti, is much easier, safer, and compliant.
On our end-to-end platform, you can streamline the entire contract management process, and automate every step of it, including payment and signature.

Trakti automates your contract, along the entire contract lifecycle. 

Through a few simple steps, you can easily create and configure your contract. You can decide to create a new template or import your old template.

Trakti accelerates your contractual flow and integrates the deployment of Smart contracts for payment automation and obligation management, thanks to the power of the blockchain. Once your contract is ready, you can simply share it with your team or your clients, within one, unique and compliant platform.
If needed, you might add more participants to your network, and start negotiating.

Thanks to blockchain technology, you would be able to certify and notarize all your contracts to keep them safe and immutable. 
Signing your contracts is not a problem as you can automate the signature process.  

Trakti electronic signature module is included on our platform and it is eIDAS compliant.

Our platform allows you to continue monitoring the contract, even after it has been signed. Any renewal or deadline is not an issue anymore.  You can get reminded about upcoming deals’ deadlines in your dashboard, notification in-box, and via email.
Increasing control on your contract after it has been signed, avoid incurring any penalties. You can also activate evaluations, reviews, payments, and obligation management.

On our platform, you can track any change by viewing document changes in real-time having previous offer versions automatically compared against previous offers. All offers are registered and tracked, ensuring access to all authorised team members, and improving auditability and compliance.

Certify and automate your contract all in one certified, secure, and agile platform.

Trakti on its side guarantees that the contract and the data are safe. 

Based on blockchain, Trakti, beyond the effective management of negotiations and contracts, allows you to send private messages and files to each participant. The files inherit the level of security and privacy given to the negotiation. All the information exchanged will be accessible only by authorised persons in a secure way.

Take control of your contracts.
With Trakti it is easy to manage and close your deals.

Ready to learn more about Trakti no-code platform?
Find out here!

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