A flexible authoring environment, seamlessly integrated with the contract repository, goes a long way towards accelerating and controlling the contract creation process and improving collaboration between stakeholders.
smartContract features a unique – smartContract Workspace™ that helps your Legal team to seamlessly collaborate on contract drafting, red-lining, versioning, negotiation, the ability to compare iterations, and a complete revision history, as well as access to a central library of preapproved clauses and terms. With smartContract you can automatically add or remove clauses based on criteria and completely format & style your documents using the Microsoft Word capabilities. Integration with the contract repository and its preapproved language library simplifies clause and term selection and ensures consistency and adherence to established guidelines.
Legal Contract assignments are carried out using our dynamic ‘Turnaround Time (TAT)’ calculation before contract drafting assignments to any Legal User, which brings in more efficiency and productivity.
smartContract leverages the Microsoft Word capabilities that allows authors to create and edit contracts which significantly reduces barriers to user adoption and speeds time to value.
CONTRACT REQUEST FEATURES
Manage Contract attributes, versions & amendments, supporting documents, negotiations, task assignments and Audit trails on dedicated contract workspace
Secured and permission-able collaboration access to Legal Team, with reviews, notifications and version management to track and manage contracts
Clauses and Terms Library
Dedicated Clauses and Terms library with secure access through Microsoft Word plugin to easily add/modify/search relevant terms within the contract
Redlining & Contract Comparison
Work offline or online on Contract drafts, upload revised drafts, compare any two versions with redlining to track and highlight contract draft changes
History & Version Management
Contract Version management from multiple collaborators, Track & manage all actionable history while drafting a contract with supporting notes & documents
Assign tasks and request reviews directly from Contract workspace to gather notes & supporting documents with alerts, escalations & reminders
smartContract – Parallel Drafting & Review
smartContract – Contract Drafting Feature Benefits
Automatic data merge of contract request data from business users into template’s place-holders
Clause Library along with the Word plug-in, helps you manage, track & analyze contract language
Define rules-based sections & clauses retrieval for each contract type or document template
Standardize Contract Language using MS Word for fast and streamlined contract drafting process
Draft review workflows for pre-approvals, before presenting the contract drafts to vendors & third parties
Export Drafts directly to PDF with watermarks and dedicated codes to eliminate manual error
Attached Documents & files to Contract Records with document retention & contract archiving
Full text search capabilities for all text-based documents (word, pdf, excel, etc.)
Alerts and notifications on any changes & updates on Contract draft or supporting documents