The best contract management software for 2020 requires an easy-to-use cloud-hosted contract management software that provides you with simple and secure ways of managing your contracts. This takes away the risks usually associated with poorly executed contracts. 

ProcurePort ensures that you keep up with the contract execution timeframe by helping you to organize all of your active, pending, and finished contracts and ensures a timely renewal. 

How does ProcurePort help you to manage your contracts? 

As one of the best contract management software providers, ProcurePort helps you to manage your contracts by providing you with a secure, cloud-based software platform. You can use ProcurePort to create, execute, and manage all supplier contracts starting from the point of negotiations, contract execution, conclusion, and performance appraisal, which includes also includes contract compliance assessment. 

What Makes ProcurePort the Best Contract Management Software?

ProcurePort’s features makes it standout amongst other contract management software. These easy-to-use features make it the best contract management solution in the industry. 

  • 24/7 Access to Contract Repository

You can access all relevant contract documents and data from ProcurePort’s contract repository at any place, anytime, and any location. ProcurePort ensures 24/7 access to its central repository from anywhere in the world.

  • Tracking and Alerts

ProcurePort’s alert feature notifies you of the impending expiration date of all contracts and contracts related documents e.g., insurance certificates, certifications, etc. This feature makes sure that you are not caught unaware of contracts and documents at the point of expiration. 

  • Digital Signing

The digital signing feature allows both the buyer and the seller to sign contract documents digitally, without the additional paraphernalia of signing paper-based contract documents.

ProcurePort has integration with ‘Sign-Now’, which gives the software it’s digital e-signature ability. Hence, both buyers and sellers can sign digitally online.

  • Business Intelligence

You can analyze all of your contract data using ProcurePort’s Business Intelligence Dashboard (BI dashboard). The BI dashboard displays a clear summary of contract values, the amount spent, the Contract category, Suppliers/buyers/sellers, etc. 

Also, from ProcurePort’s BI dashboard, you can use ProcurePort’s customized forms to create contract templates to capture all vital data relevant to the contract meta-data. 

  • Complete Automation

The best contract management software focuses on multiple facets of your business’ partnership range. ProcurePort delivers full automation to both governmental and public entities when running a contract lifecycle process.

The Online Contract Lifecycle Management (CLM) Software

The CLM software which is an essential component of ProcurePort Contract management software facilitates the following features:

    • An easy-to-use contract loading Wizard that guides you through the processes of loading contract documents and contract terms to ProcurePort. 
    • Ability to create contracts easily using ProcurePort’s contract templates
    • Increased collaboration and visibility between users
    • Ability to tag your contracts with keywords for easy and customizable search and report
    • An automated alert notification system that notifies you of all milestone achievement in your contract management lifecycle
    • Comprehensive reporting processes for analyzing contract spendings
    • Generates comprehensive audit report of the contract lifecycle
    • Facilitates real-time collaboration with all individuals and departments involved in all the contract stages, starting from conception to finishing.

Functions of ProcurePort Contract Management Software

1. Legal Contract Management

ProcurePort’s legal contract management ensures that your company is protected from missed milestones and rolling agreements. It also ensures that there is a mutual agreement about pricing between you and your vendors

Track all contract spending and compare pricing 

ProcurePort offers you a comprehensive summary of all executed contracts, including expenditures. It does this by keeping track of all contract stages and also categorizes your contracts based on spending categories. ProcurePort also ensures strict compliance of all contracts by keeping track of all expenses incurred for each contract.

You can also use ProcurePort’s spend analytics tool to analyze all spending done in real-time to improve your organization’s expense management. 

2. Vendor Contract Management

You can use ProcurePort to achieve better visibility in Vendor contract management in all the contract stages including procurement

Easy Tracking using ProcurePort’s analytic tools

Use ProcurePort’s analytic tools to achieve contract visibility and keep track of all contract stages, timelines, and spending.

ProcurePort offers you some of the best contract management software for a consistent and proven methodology in contract management between you and your vendors. Its contract repository provides you with a 24/7 accessible storage for storing all contracts and contract-related documents for easy accessibility by all authorized parties.

Therefore, using ProcurePort’s electronic contract repository eliminates the risks, waste, and inefficiencies associated with all paper-based contract management processes. 

ProcurePort contract management software gives you the best in contract management with its friendly user interface, analytic tools, reporting features, and other powerful features.

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