The process involved with contract management is still largely a manual operation in most organizations. Research from industry analysts says that as much as 2-5% of total annual costs can be saved by eliminating contract inaccuracies and non-compliance, and much more if you consider the risk avoidance of large legal suits.
SciQuest Contract Director, a contract management software solution, is designed to improve the contracting process and sets the standard for enterprise contract management best practices. Recognized by industry analysts, Forrester Research, in June 2011 as the highest-rated contract lifecycle management solution, SciQuest Contract Director enables users to manage the complete contract lifecycle online.
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Efficiently author and manage contracts with SciQuest Contract Director
- Cost savings and revenue maximization, both for small and large enterprises
- Streamline operations through contract lifecycle management
- A central contract management repository
- Reduce time to create contracts through use of templates and online collaboration
- Manage financial performance
- Identify and prevent overcharges or off-contract spending
- Fulfill commitments on time with alerts and reminders
- Enforce policies and reduce ‘maverick contracts’
- Ensure an audit trail and strong security
- Advanced user-configurable contract management interface enables rapid user adoption while robust security features ensure contract lifecycle management information and functions are granted only to the appropriate people.
- SciQuest Contract Director’s ‘Smart Template’ and advanced document hierarchy technologies simplify management of contracts across the enterprise while flexible role and organizational hierarchy-based security ensures each user has access to the documents and functionality they need.
- Contract management functions, including event, compliance, performance and delivery, assessment and management, maximize the value of business agreements through the entire lifecycle.
- Highly-configurable workflow engine that dynamically routes agreements to the right internal approver or reviewer based on a comprehensive set of contract variables, including monetary value, type, commodity, and risk level.
- Flexible reporting capabilities provide easy access to the contract portfolio, in depth insight into upcoming events and superior management control.
- Native integration of DeltaView, the leading document comparison technology by Workshare, streamlines the collaboration between negotiating business partners and minimizes potential litigation risks to your organization.
- SciQuest Contract Director’s Clause Analysis features shorten contract creation and maintenance cycles by giving you actionable insights into which contract templates and clauses are negotiated the most, and the type of changes.