A1 Enterprise has completed an global contract management software implementation for an international non-profit organization, addressing various contract concerns, such as contract renewal and performance, on a day-to-day basis. Given this scenario, a global contract tracking is a critical function for most international businesses.
To answer this burgeoning concern, A1 Enterprise’s global contract management software, A1 Tracker, provides the need for an easy-to-use tool in managing contracts with internal staff and third-party vendors.
A1 Enterprise’s Contract Software is a web-based tool that offers a simplified contract approval workflow process. This an easy-to-use tool for businesses’ contract workflow management offers:
● Quick contract document access
Users of A1 Tracker contract workflow software can enjoy the single sign-on feature through their existing user authentication for their PC workstation, thereby streamlining the process of accessing data.
● Tailored for global use
A1 Tracker has different language options including options for Chinese, Korean and Cantonese. Administrators may define their specific regional characters as well using a custom regional settings feature.
The contract software also has functions to allow use of multiple currencies for tracking contract transactions and expenses. Administrators may configure multiple currencies as well as integrate with real-time currency exchange tools to update contract costs based on local currencies.
● Contract alerts
To easily maintain agreements, there will be a notification to contract parties and administrators of specific concerns such as over payments, underpayments and value alerts for when a contract reaches a certain pre-defined percentage of completion.
● Streamlined contract routing sequence
A1 Tracker allows contract reviewers to receive contract review requests and approve via email, without having to go through multiple steps, allowing the individuals involved to be notified on-time and also to allot more time to more important business matters.
● Cost and payment tracking
Accounting cost codes can be incorporated to the contract software to ensure a standardized contract cost reporting system.
This feature also allows contract managers to track purchase orders and attach these to contracts throughout the contract lifecycle. Users with permission to the contract will have access to various reports such as history of purchases and comparison of budgeted costs to actual accrued costs.
● Assured confidentiality
Contract administrators can limit access to certain aspects of a contract to specific users or groups, such as auditors, contract managers, vendors, and executive managers, assuring that the documents only reaches the individuals concerned for specific contracts.
● Tools for corporate contract compliance and policy governance
This means that contract managers have means to hold other contract authorization parties accountable for their contract review and approval using certain required questions to complete during the contract review process.
The global contract management software even includes a central repository for contract file attachments. This means, contract administrators can have access to the history of contract documents, drafts, proposal letters, and executed agreements. Document automation features facilitate document routing across multiple parties for E-Signatures.