Reduce Exposure to Legal Risk with Intelligent Contract Management Solutions
Control authoring, track contract versions, and adhere to approval policies using collaborative workflows to improve contractual compliance. Contract lifecycle management software streamlines the process control of contracts, data, and supporting documentation through rules-based workflow and eSignature routing to accelerate the execution of the process. This provides full audit visibility of the documentation and approvals—increasing compliance, contract value, financial performance, and corporate control over your portfolio of contracts.
Streamline Your Contract Management Processes
Simplify the creation and management of your contacts by consolidating them in a single, centralized repository. This delivers reduced cycle time, increases access and visibility, minimizes risk, and greatly improves compliance.
According to a study by the National Contract Management Association, more than 75% of large companies have problems finding their contracts, and 85% are using manual or partially automated processes to manage existing contracts.
Nearly 80% of a company's external spending is covered by a contract, which means there are tens of thousands of active contracts inside your company at any one time.
A contract management solution can help you successfully manage and monitor end-to-end contract lifecycles and remove the risk of expired contracts, and large administrative burdens. You’ll always be one step ahead and quickly able to make changes if needed.
Collect and Connect All Your Contracts in One Easily Accessible Repository
Secure storage of all your contracts via our central contract repository and maintain control in a collaborative, accessible environment.
The Scanmarket CLM system provides the ability for your legal department to easily build and control their library of clauses and templates ensuring the most recent contract terms are made available for new contracts or amendments. The clause library also helps to provide alternative language that can be proposed when third-party templates are imposed upon you.
Having a shared database of contracts, amendments, sub-contracts, data, and documentation from your vendors and/or customers allows any authorized person to quickly locate any document. This is the first step to streamline your contract and documentation process.
Enable tighter data access control balanced with easy management of all your documents and contracts and ensure that all relevant employees have access to view, control, and track changes to company contracts, including document history.
Centralized storage offers collaborative version control, allowing for straightforward collaboration between multiple individuals and parties, providing full visibility of the contract versions to ensure that a full audit trail is retained on the contract record. When it comes to contract tracking and contract management, information is key.
Search Using Metadata
Tracking metadata ensures that you can easily identify information through advanced search and tagging.
Access a complete overview of contracts, documents, metadata, clauses, and SLAs in a single shared repository with extensive functionalities including search, filter, reporting, and segmentation capabilities.
Secure Your Contracts
Our software includes a central contract repository that secures storage of all your contracts and provides tighter data access control.
This reduces the risk of losing crucial documentation and data that could potentially cause harm to your business reputation and revenue and enables you to stay compliant with data and privacy regulations.
Automate Notifications
Automate the process of notifying owners of contracts that are due for renewal or need attention.
Utilizing automated notifications ensures that no contract expiry takes place without your knowledge – making you proactive in your management of contract renewals.
Minimize Your Carbon Footprint
Improve your eco-credentials by going paperless and actively reducing waste. Not only does that reduce your negative impact on the environment, but it also enables you to collaborate with colleagues across departmental and geographical divides.
40+ Years of Experience Developing Our Software
Our Contract Lifecycle Management software is developed utilizing the combined experience of Symfact and Scanmarket, both best-of-breed players.
Reduce Contract Cycle Times
Streamline all elements of the contract management process through collaborative workflows.
From document authoring, redlining, approvals, electronic signature, and commitments management all the way through to renewal - automation secures easier and faster contractual compliance whilst lowering your overheads.
Active Contract Tracking
Plan, manage and execute contracts with visibility of coverage, supplier commitments, penalties, and risk.
Automate workflows, track changes, expedite signatures, and keep all stakeholders informed in one shared contract repository.
Maximize Contract Compliance Through Standardized Templates
Improve productivity during contract creation and help ensure compliance with any legal or regulatory rules by using pre-approved contract templates.
Contract management software enables you to create standard contract templates that can be configured to specific requirements and regularly updated.
Automation of contract authoring and redlining, in particular the signing process, provides efficiencies and saves time where normally the contract author would manually be sending copies of the document between internal and external counterparts.
Improve Contract Compliance
Control data and documentation to ensure all departments are using the most up-to-date, legally approved contract clauses and templates. Execute streamlined processes for every scenario including categories and geography.
Faster Contract Creation
Accelerate the initial stages of contract management and improve productivity with configurable templates.
Control Access
Control and audit any changes made to contracts with our permission-based access control feature.
Easy Implementation
Our software is fully compatible with Microsoft Word, ensuring easier implementation for employees.
The drag and drop interface allows for documents to be added directly into the software, saving time and reducing errors.
A Library of Standardized Terms & Clauses
Make time-consuming contract creation a thing of the past. Use contract management software to quickly identify any clauses or provisions in need of updating across your contract library.
Speed up Contract Completion
Streamline the contract approval process, and get contracts ready for approval in far less time using software automation.
Pre-approved Clauses
Improve productivity and efficiency during contract creation with pre-approved clauses, easily found within the integrated clause library. Pre-approved clauses and templates provide a structured approach to adapting contracts to specific needs.
Pre-approved Legal Terms
Ensure compliance with pre-approved legal terms.
E-signature Software Ensures Authenticity of Your Documentation
E-signature software is a convenient online solution that allows stakeholders to sign documents digitally and reduce lengthy approval processes.
E-signature tools verify the identity of individuals and businesses online, as well as the authenticity of electronic documents.
Scanmarket integrates with multiple e-signature solutions and includes support for UETA, ESIGN, and the European Community framework for secure identification, eIDAS.
Fast and secure authentication of individuals involved in a contract management process reduces time spent on each contract.
Reduce Forgery
Add an important extra layer of security with e-signature technology, as digital signatures are harder to forge than wet signatures.
Improve Your Green Profile
Improve your eco-credentials by reducing the paper trail involved in contract signing.
Fast Contract Sign-off
Adapt to changing circumstances without affecting operations and schedules by getting contract modifications signed off quickly.
Improved Audit Trail
Our e-signature software creates a timestamp and audit trail for every contract signature.
500+ Customers
Scanmarket's software is built to make S2C management as simple as it should be.
But, don’t take our word for it.
Add Specialized Capabilities
with Legal Entity Management
Our Legal Entity Management software enables
simple oversight and governance of complex organizations.
’’
Scanmarket's Contract Management has enabled Marston's to focus key resources on what's important to our business rather than waste time on administration.
Key Features
Contract Visibility
Streamlined Contract Authoring Process
Compliance & Control
Managing Contracting Processes for Healthcare Providers and Practitioners
Many healthcare organizations struggle with the constant additions, changes, and deletions of provider and practitioner data that are submitted through multiple channels and affect different systems to keep information about claims, plans, directories, etc. up to date.
Depending on the infrastructure, data may need to be submitted to multiple legacy systems to onboard a new provider, and the review and approval workflow process may involve multiple departments and staff members.
A single repository for all provider enrollment and data maintenance will increase accuracy, reduce manual work and eliminate data siloes.
Medica is a US health services company, that struggled with multiple data sources and lengthy approval processes. Read the customer case below on how Medica found an efficient way to integrate processes and systems.
Gain Clear Visibility
Gain a complete overview of contracts, including documents, metadata, clauses, and SLAs via a single shared repository and extensive segmentation, search, filter, reporting, and dashboard functionality.
Control Your Contracts
Control contract planning and execution with visibility of:
Maximize Contract Compliance
Ensure all departments are using the most up-to-date, legally approved contract documents, clauses and templates, and following the correct processes, for every category, geography and scenario.
Reduce Contract Cycle Time
Streamline all elements of the contract management process while reducing risk. From initiation to renewal, automation protects against human error and is faster and easier. Improve contract cycles with collaborative workflows that include authoring, redlining, approvals, e-signatures, and expiry reminders.
Collaborate & Approve Seamlessly
Collaborate with suppliers, legal counsel, and other relevant parties through online workgroups, messaging, internal notes, and automated approval/eSignature workflows throughout all stages of the contracting process.
Scanmarket a Leader in Contract Management
Scanmarket was recognized as a leading Contract Management provider in the 2022 Strategic Sourcing Data Quadrant report from SoftwareReviews.
If You Can’t Find It, You Can’t Save on It
Consolidate your contracts. Author contract documents. Collaborate with stakeholders. Monitor, approve and follow up on commitments all in one central repository. Easily find and save all your progress while making it easier for the next person on your team.
Efficient Contract Lifecycle Management Starts with Visibility and Ends with Control
Learn more about Scanmarket’s Contract Lifecycle Management software.
View Contract Lifecycle Management in Use
Contract Lifecycle Management
Visibility into Contract Coverage
Reduce manual work through controlled versioning, contract authoring and redlining
Significantly improve negotiation governance with redlining and version management. Every step in the redlining process is saved as a new version providing full visibility and traceability. Document redlining is managed with high user experience in focus using deep Microsoft Office integration.
Create, edit and track contracts and maintain full audit tracking of changes and version updates for all stakeholders throughout the contract lifecycle
Automation of especially the contract authoring and redlining process, in particular the signing process, provides efficiencies and saves time where normally the contract author would manually be sending copies of the document between internal and external counterparts. In addition, pre-approved clauses and templates provide a structured way to easily adapt contracts to specific needs.
Approval workflows can be defined per contact template and ensure that only relevant people are asked to review and/or approve a new or updated contract.
Improve compliance through control
Contract management software provides control of contracts, data, and documentation and uses eSignatures to speed up processes and provide full audit visibility of the document.
Out-of-the-box integration with DocuSign for electronic signature ensures quick and secure contract execution. The integration makes the signature process more efficient based on user-defined workflows - it allows you to see in real-time where a document is in the signature process, while seamlessly updating the document and other data on the platform after completed execution.
Shared repository and automated notifications
Consolidate all your contracts and create a single enterprise-wide repository. Contract Management allows the setup of all contract types and associated metadata within a single repository, giving easy access to all contracts, documents, and data.
Having a shared database of contracts and being able to quickly locate any contract is the first step to managing contracts and planning your sourcing pipeline. In addition, utilizing automated notifications ensures that no contract expiry takes place without your knowledge – enabling you to become proactive in your management of contract renewals.
The contract repository can be customized with a personalized view and pre-configured search and filter settings. The personalized view helps you quickly find what you are looking for and only see the information relevant to you.
Authoring using templates, clauses and collaborate approval workflows
Drive standardization across the company to reduce risk with authoring based on pre-approved templates. The platform provides contract clause management with an easy-to-use clause library that helps manage fallbacks and dependents requiring mandatory language and keeping a history of different clause versions.
Allow for flexibility when creating and populating compliant contracts using a modular approach through pre-approved contract document templates, and the ability to add additional pre-approved clauses from clause libraries.
New or updated clauses have to go through a mandatory approval process before becoming available for contract creation. The platform tracks all clause usage in templates and agreements to provide deeper insights.
Accelerate contract creation with templates with pre-defined document formatting, contract clauses, custom text, metadata tags, and other data such as exhibits and appendixes.
Contract Lifecycle Management
Reduce Exposure to Risk
Automated Notifications
Improve overall contract management and reduce risk and expensive renewal costs by maintaining visibility of contracts about to expire or pending approval through automated reminders.
Make sure you never forget about a contract that needs your attention. The platform allows for proactive notifications to be sent for contract dates such as termination, expiry, or other milestones. Configurable notifications let you specify the recipients, format, and content of each relevant notification delivered via email.
Stakeholder management
Implement defined workflows dependent upon the type of contract, outlining who is involved and at which stage of the process, ensuring buy-in from all relevant stakeholders from low to high-value contracts.
From event to contract
Convert your eSourcing event (RFx/eAuction) directly into a new contract, transferring data and reducing human error.
Search within attached documents
The contract lifecycle management repository provides quick and easy access to contract data. Using powerful OCR technology you can search across multiple criteria including contract status, contract managers, start/expiry dates, custom metadata fields, keywords, etc. and the platform even lets you search the full text of computer-generated documents such as PDFs or Word files.
Run reports and export them to Excel in seconds to take all contract data offline if needed.
Fully configurable system
Create and adapt views to fit with your specific needs – no need to get IT involved.
Ownership assignment and transfer
The application provides an easy overview of contract ownership. This is key when you hire new contract managers or reorganize the organization. New contracts are easily assigned to the relevant contract manager and existing contracts can be mass-updated to reflect a change in ownership.
Contract metadata
Define your own contract metadata templates to ensure you only capture relevant data for each specific contract. The platform automatically keeps track of updates and changes to data fields providing full version control with a powerful visual side-by-side comparison of versions.
Detailed audit log tracking all actions – ready for filtering and print
The platform provides automated audit logs on all contracts providing a full history of any updates to fields, signatures, approvals, etc. The detailed audit log is available for instant searching and filtering as needed.
Book a Demo
Originating from the needs of the procurement professional, Scanmarket's S2C software is built to be used. See for yourself how advanced technology can be as simple as it should be.
Integrate with what you know and already use.
Scanmarket integrates seamlessly with leading technology solutions to create an effortless experience for the end user.
Services
Ensure source-to-contract program results with one of our expert Customer Success Managers to guide you.
Supplier Risk & Performance Management
Manage Your Suppliers and Assess the Risk
Centralize your supplier negotiations. Develop a single source of truth for supplier information that is accessible across the entire organization. Integrate third-party risk information to assess and monitor your supply base.
Ready to Take the Next Step?
Find the solution that fits your needs.
