Contract Management Software
Streamline and oversee the entire contract management process
Scanmarket Contract Lifecycle Management software gives you visibility into key contact information, streamlines control of your contracts, data and documentation and uses eSignatures to speed up your processes.
Reduce Exposure to Legal Risk with Intelligent Contract Management
A contract management solution can help you successfully monitor and manage your contracts, remove the risk of expired contracts, and ensure contract compliance, while eliminating large administrative burdens. Simplify control of contracts, data, and supporting documentation through rules-based workflow and eSignature routing and gain full audit visibility of documentation and approvals to increase contract compliance.
Streamline Your Contract Management Process
With our easy to use contract management software you can simplify the creation and management of your contacts by consolidating them in a single, centralized repository. Having a shared database of contracts, amendments, sub-contracts, data, and documentation from your vendors and customers allows any authorized person to quickly locate any document.
Reduced Contract Cycle Time
Automation secures faster contractual compliance from document authoring, redlining, approvals, electronic signature, and commitment management through to renewal.
Improved Contract Compliance Management
Enable straightforward collaboration between multiple individuals and parties, providing full visibility of contract versions to ensure a full audit trail is retained on the contract record.
Standardized Terms & Clauses
Make time-consuming contract creation a thing of the past by utilizing the pre-approved templates and clauses from your contract library.
Collect and Connect All Your Contracts in One Easily Accessible Repository
Secure and controlled storage of all your contracts in a collaborative environment, with our software for contract management.
Enable your legal department to easily build and control a library of pre-approved 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.
Integrates with industry applications
Integrate with what you know and already use.
Scanmarket integrates with leading technology solutions to create an effortless experience for the end user.
Key Contract Management Software Features
Contract Repository
Find the contract you need quickly and easily with the metadata search and filter feature, using OCR technology. Scan your entire database, including attachments, to generate the fastest search results. Configure the columns to your liking with the drag-and-drop feature.
Instant Reporting
Run comprehensive reports in seconds, even those compiling hundreds of records. Formulate a data-backed action plan with the most up-to-date information.
Contract Template & Clause Library
Build a new contract or edit existing agreements in just a few clicks. Don’t start from scratch - access the preapproved template library, edit or add fields or clauses to tailor contracts faster.
Automated Contract Notifications
Send automated email notifications to selected stakeholders. Set additional notifications for events like review meetings, termination notices, renewals, and more.
Version Control
View all contract versions, run audits, and quickly sort data with advanced filters. Easily export full audit logs to Microsoft Excel.
eSourcing Integration
Convert any eSourcing event directly into a new contract. Import all relevant, associated data including payment terms, delivery terms, event references, involved participants, etc.
Contract Authoring & Redlining
Send contract documents between stakeholders and suppliers for collaborative review and redlining.
eSignature
Review and sign contracts quickly with integrated global eSignature software. Eliminate the need for a separate contract and expedite approval workflows.
500+ Happy Customers
Scanmarket’s software is built to make S2C management as simple as it should be.
The Benefits of Using Scanmarket Contract Management
Software
-
Single source of truth for all corporate contracts
-
Rapid deployment and adoption of all department-specific contract management processes
-
50% reduction in contract cycle times
-
55% improved compliance management
-
2-7% direct savings on purchase costs
-
25-50% reduction in contract administrative costs
-
Customizable contract workflow process
Challenges Scanmarket Procurement Contract Management
Software Solves
Inability to find contracts
Easily locate exact contract related information.
Lack of visibility into contract metadata
Gain full visibility into all contract metadata.
Difficulty in finding latest contract version
Search within attached documents with powerful OCR technology.
Lack of Audit Trails
All contract documents are well organized and traceable.
Contract creation is a time consuming task
Access a Library of pre-approved contracts and clauses, for easy and quick contract creation.
Red-line and review process disjointed
Seamless red-line and review process.
How Much Does Scanmarket Cost?
Companies of every size and type, from medium-sized manufacturing businesses to enterprise-level service organizations have made the move to Scanmarket. Looking for a better way to run your source-to-contract processes but wondering about the cost?
Users subscribe to Scanmarket for an annual license fee. Your license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for the initial setup. As your business grows, you can easily activate new modules and add users — that’s the beauty of cloud software.
24/5 customer support is included with the Scanmarket platform license.
Resources
Customer Stories
Spark ideas with success stories from Scanmarket customers:
Guides & Blogs
Deep-dive into topics around procurement, strategic sourcing and Scanmarket:
Blog - Contract Management Software: The Ultimate Cloud-Based Storage Solution
Blog - Mitigate Cyber Security Risk with Contract Management
Essential Learning
Discover best practices and learn more about strategic sourcing:
Frequently Asked Questions
How efficient can you get by using contract lifecycle management software?
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 contracts, which can cause serious problem to honour their contractual obligations.
Nearly 80% of a company's external spending is covered by a contract, which means there are tens of thousands of active contracts workflows inside your company at any one time.
Which type of support do you provide for your procurement and contract management software?
We provide 24/5 Quick Call support for your internal users and suppliers.
Quick Call support is not like your typical support desk. With Scanmarket, you have direct access to our global team of expert source-to-contract consultants who can resolve your issues rapidly. We often hear from our customers that Scanmarket's Quick Call support is the best in the industry.
Quick Call support is available to customers, suppliers, and other stakeholders. 85% of Quick Calls are answered in less than a minute, and 95% are answered within five minutes.
How can I reduce manual work with your saas contract management software?
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.
Do I have to manually input data?
With our s2c management software you will be able to convert your eSourcing event (RFx/eAuction) directly into a new contract, transferring data and reducing human error.
How can I find specific data?
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.
With our enterprise contract management software, you can run reports and export them to Excel in seconds to take all contract data offline if needed.
Can I use CLM for audit tracking?
Our source to contract management software 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, filtering, and printing as needed, helping you make sure you never miss any contract renewals ever again.
How can I manage my stakeholders?
Our management system allows you to 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.
