A contract review is a crucial step in the contract management process.
Before signing a contract, a contract review allows a full check of its clauses to avoid an unwary acceptance and the risk of committing to obligations that can’t be fulfilled.
Reading time: 3 min
With the advancement in technology, more and more organizations are moving to e-signatures as they are efficient, safer, reliable, and quicker as compared to the traditional means of signing.
The traditional signing of documents means printing out those papers, signing them, and sending them via mail or even through email as well as storing, distributing, and more which not only wastes a lot of paper but time as well.
Contracts are fundamental for all transactions in the business world. But the recent market turmoil has highlighted the importance of digitalization of processes and adequate risk management.
In “conventional”, physical legal contracts, parties usually sign them with a handwritten/electronic/digital signature, depending on the form of the contract.
But as far as legal smart contracts go, how do parties sign and validate them? How can part B show its consent in adhering to part A’s smart contract? Are private and public keys used here?
Ask anyone in the business world about their pain points and you’ll likely hear: sales and signatory management. Updating, monitoring, and managing lists is currently a time-consuming, inefficient, and error-prone activity for suppliers and buyers alike. At the same time, the painstaking process of proper signatory management is essential for establishing and maintaining business relationships, not to mention for ensuring compliance.
Reading time: 4 minutes.
When does your client get the first impression of your business? Let me answer for you: the real impression begins when the client has started to do business with you. In this crucial phase you must not fail or be caught unprepared.
Client onboarding automation is complex and must be performed in compliance with rules and regulations, maintaining control of processes, and protecting data and information.
Tempo di lettura: 3 minuti, Photo by Jean Gerber on Unsplash
Contract automation efficiency is no longer a matter of choice. It is a necessity in this digital day and age when users expect a seamless on-boarding experience, which traditional contracting cannot offer. Have you ever had delayed orders, lost customers or missed payments because of contracts that have disappeared or that were not filed properly?
Achieving end-to-end contract automation efficiency can be done in a number of ways. In doing so, your on-boarding journey will become more seamless and integrated as you make use of tools such as KYC check, anti-malware control, identity check, credit check and more from a single point of access.
Simplifying your workflow with contract automation is a great way to free up the time of your team and reduce average turnaround time by 80%.
Reading time: 3 minutes, Photo by Braden Collum on Unsplash
Many companies drastically underestimate the importance of contract onboarding, In fact, 22% of companies have no formal onboarding program at all, while 49% only have a partially successful process. But do you know just how detrimental unsuccessful onboarding can be? Employees become less productive, stressed, and feel disconnected from the rest of the team, while customers end up flocking to your competitors.
One way that simplified contract onboarding helps you is by increasing customer engagement. The process benefits new customers, existing ones, and company leaders alike.
Reading time: 3 minutes, Photo by Kelli McClintock on Unsplash