How contract automation tools can save your business time and money?
Instead of scrolling through manually updated Excel spreadsheets that are prone to user error, ConvergePoint’s Contract Management Software, built on Microsoft SharePoint, offers sleek, easy-to-read dashboards that allow you to quickly see what you need to know at a glance.
Arranged logically and intuitively, the real-time CLM dashboards show who is assigned the contract, upcoming deadlines, contract status, related comments, past discussions, supporting documents, revisions, and more. Eliminate your heavy reliance on email-intensive workflows and Excel spreadsheets, share drives and folders (electronic and physical) by depending on contract dashboards with custom views. Watch your contracts come together and flow seamlessly through the process — easily, at a glance, all on your dashboard.
Why do contract management dashboards matter?
Contracts serve as the foundation for vendor agreements, corporate commitments, and collaborations. However, they can be complex, involving multiple departments and teams. Organizations often face difficulties in managing multiple versions of contracts, tracking expiration dates, and ensuring compliance with the terms of the contract agreements. Spreadsheets and basic file management systems are examples of manual processes that might lead to missed deadlines or human error.
Organizations can streamline their contract-related information and activities by using a specialized contract management dashboard. This reduces the risks associated with management by providing a centralized platform where important stakeholders can efficiently review the status of contracts, upcoming deadlines, and associated tasks.
Also read: How to Improve Contract Management Processes in the Organization?
Key Features of Contract Management Dashboard
Real-Time Contract Visibility
Real-time insight into contracts, providing a clear view of each contract's status, is one of the contract dashboard's primary features. Stakeholders can be always updated on important contract milestones due to a central repository that shows contract status, accountable parties, upcoming deadlines, and related responsibilities. By keeping contract renewals more visible, will increase visibility in penalties for missed deadlines, and bottlenecks in contract approval workflows.
Dashboard Views and User-Friendly Interface
Users can tailor the overview displays to suit their specific requirements. The contract management dashboard is designed to present crucial data, enabling users to comprehensively review all active contracts, focus on departments, or prioritize contracts nearing their expiration dates. This level of flexibility empowers users to make informed, data-driven decisions and promptly assess the status of contracts to ensure timely renewals, revisions, or terminations.
Improved Workflow Automation
The CLM dashboard automatically notifies users of upcoming deadlines, contract reviews, or approvals, improving workflow efficiency. It assigns tasks, monitors their progress, and ensures transparency to reduce delays in the contract lifecycle. With these automated workflows reducing the need for manual process involvement, team members can focus on strategic priorities rather than regular administrative tasks.
Also read: How to Implement End-to-End Contract Lifecycle Management (CLM) Software
Capabilities for Audit and Compliance
Contract management requires compliance. Staying compliant can be difficult because different industries have different regulatory obligations. To simplify the retrieval of data during audits, the contract management dashboard keeps relevant supporting documents along with maintaining track of contract versions and updates. Organizations may comply with industry standards and stay out of danger by using the software's integrated compliance monitoring dashboard features.
Contract Version Control and Historical Tracking
Keeping track of changes in contracts can be challenging when they undergo revisions and updates. The contract dashboard automatically maintains version control, ensuring that every revision is tracked and accessible. This feature provides complete transparency, allowing users to track the history of changes or revert to previous versions, thus ensuring that no crucial information is lost or missed.
Benefits of our Contract Management Software Dashboard
1. Keep Users on Task with Custom Access Views and Modules
The Contract Management Software Dashboard from ConvergePoint helps users maintain focus by offering customized access views based on their specific roles. Users can quickly view the work assigned directly to them, instead of having to sort through an overload of unused data, which reduces distractions and improves productivity.
Individuals have access to the required features without unnecessary complexity due to custom modules. With this configuration, there is no longer a need for pointless emails or status updates, which improves communication and ensures that people effectively complete their tasks.
2. Get Visual Reports in One Central Location
The contract dashboard provides a centralized location for all contract information. Users can easily track the progress of contracts throughout the lifecycle, eliminating the need to search through multiple platforms or contact colleagues for updates.
Visual reports and updates on contract progress are displayed on the homepage, offering users a comprehensive view of draft statuses, upcoming deadlines, and other important metrics. By consolidating key insights, the contract management dashboard saves time and enables decision-makers to act promptly and confidently based on current information.
3. Strengthen The Audit Process with Visual Statistic Reporting
The contract management dashboard provides clear statistics reports that offer insights into contract processes, improving reviews. Users can track delays and promptly address inefficiencies. Stakeholders can easily assess compliance, navigate contract history, and identify issues with greater access to every phase of the contract lifecycle.
This increased transparency ensures thorough audits, reduces the risk of human error, and improves the organization's ability to comply effectively with regulatory obligations.
How ConvergePoint's Contract Management Dashboard Aligns with Organizational Needs?
1. Centralized Contract Management for Better Collaboration
ConvergePoint's contract management dashboard acts as a centralized platform for all contract-related information, enabling collaboration between departments and allowing stakeholders to track contract statuses, modifications, and tasks in real time.
2. Risk Mitigation Through Real-Time Insights
The contract dashboard offers real-time analytics to help organizations monitor key contract milestones. It automates alerts for upcoming deadlines and compliance checks, allowing businesses to proactively manage risks and prevent costly oversights, such as missed renewals or non-compliance penalties.
3. Scalability to Meet Evolving Business Needs
As companies grow, the management of contracts becomes increasingly complex. ConvergePoint’s dashboard is purposefully crafted to adapt to this growth, enabling companies to effectively manage contract workloads. Our seamless integration with current systems ensures that the contract dashboard will consistently optimize operations and facilitate the expansion of the organization.
Conclusion
ConvergePoint's Contract Management Dashboard is a robust and user-friendly solution that streamlines contract management, improves visibility, and automates crucial contract processes. Whether your organization handles a few contracts or thousands, our dashboard offers the necessary tools to manage contract obligations, mitigate risks, and ensure long-term success.
By using ConvergePoint's dashboard, businesses can stay ahead of contract milestones, improve communication between teams, and ensure that every contract is handled efficiently from creation to renewal or termination. This leads to smoother operations, stronger partnerships, and more strategic decision-making.
Request a demo to discover the full potential of our contract management software.
