Trakti Smart "Legal" Contracts Blog

No code platform for contract management

on September 14, 2022

No code platforms have been gaining traction. In fact, a no code platform for contract management is an essential part of the strategy that reduces cost and drives internal efficiency at scale.

AI is a trusted ally when it comes to replacing repetitive tasks that cause errors, dropped handoffs and wasted time — and no code/low code platforms are the way to do it.

With IT teams occupied with system maintenance and security work, companies are turning to no code platform automation to meet their day-to-day requirements.

What is a No code platform for contract management?

No code platforms are not something new. They promise an alternative to traditional software applications, allowing business users with no technical experience to build business applications from the ground up. The main goal of no code platforms is to reduce pressure on IT teams and to encourage business users to create applications in the field using drag and drop. 

What can do for your company?

We often see that company and department-specific processes and expertise are difficult to automate because IT departments do not have subject matter expertise

This means that business users are faced with the challenge of communicating their processes and expertise to IT teams, which often results in a disconnect between what is required, and what is built This disconnect also makes the process more inefficient and restricts the ability to be agile. 

Business users often resort to shadow IT tools which IT departments have low visibility over

Because IT teams are focused on maintaining existing systems, fixing bugs and data governance, business users often end up using “Shadow IT Tools” to manage their department-specific processes which IT departments have very low visibility over. This introduces risk to the organisation due to the absence of a proper governance framework. 

Benefits of no code automation

This is where no code platforms fill the gap. They create a win-win for both the business functions and the IT department. No-code platforms are designed to leverage the subject matter expertise of business users and provide them with an easy-to-use platform that empowers them to personalize their applications and solve their problems. For IT departments, this means reducing the number of low-level requests entering their backlog so that they can focus on more strategic, company-wide IT projects. And because no-code platforms provide centralized access and visibility of applications and data, this provides the suitable data governance and release processes that are important for IT teams. 

Using a no code platform for contract management allows for customisable rules, logic, and calculations to support decisions. Learn more about no-code app development below. This turns contract management into an easy task that requires no coding ever.  Your team no longer needs to build the complex forms and documents they need to successfully streamline their workflows, all backed by the security of isolated databases.

Simply put, a no code platform for contract management succeeds where other automation tools have failed, empowering you to automate your expertise and build complex workflows that will cut your document preparation time by 90%.  

Find out how Trakti’s functions support no code contract automation.

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