Contract management Archives - Page 5 of 6

Smart procurement in the digital age: how procurement will look like in 2025

on February 22, 2021

How procurement is evolving over time and how procurement will evolve to smart procurement in the digital age?

As strategic sourcing becomes more predictive, transactional, data driven procurement is becoming more automated, and supplier relationship management is becoming more proactive. Smart procurement in the digital age need to be integrated through intelligent procurement operations that help companies reduce risk and scale to their growing needs.

Reading time: 4 minutes, Photo by Brett Jordan on Unsplash

Trakti Client Onboarding automation Jean Gerber

How to quickly activate client onboarding automation for your business

on February 1, 2021

When does your client get the first impression of your business? Let me answer for you: the real impression begins when the client has started to do business with you. In this crucial phase you must not fail or be caught unprepared.

Client onboarding automation is complex and must be performed in compliance with rules and regulations, maintaining control of processes, and protecting data and information.

Tempo di lettura: 3 minuti, Photo by Jean Gerber on Unsplash

Trakti Persuade Counterpart luis villasmil

How to persuade counterparts to digitise contract collaboration and management

on January 13, 2021

Contract Lifecycle Management (CLM) tools have promised a lot: faster and more efficient contracts, best contract collaboration and management, tracking changes, time savings and reduced costs and risk of errors. But there is still a big hurdle to overcome to digitise contract collaboration and management: how to make your platform attractive to your counterpart?

Here are some tips!

Tempo di lettura: 3 minuti, Photo by Luis Villasmil on Unsplash

Contract management software integration – The Future of Business

on January 12, 2021

Most modern vendor and contract management software solutions support workflow management. That’s nothing new. However, it’s time to start thinking beyond just data integration. What if we could find a way to implement easily contract management software integration? What if we could contract handle contract easily though different processes and applications? Giving vendors, customers and businesses the data at the point in time they need to actually make a decision by integrating it directly into the workflow.

As the business landscape becomes increasingly digitalized, it’s important to upgrade your technology and modernize your third-party risk management.

Tempo di lettura: 3 minuti, Photo by Bill Oxford on Unsplash

Happier customers, simplified contract onboarding

on December 23, 2020

Many companies drastically underestimate the importance of contract onboarding, In fact, 22% of companies have no formal onboarding program at all, while 49% only have a partially successful process. But do you know just how detrimental unsuccessful onboarding can be? Employees become less productive, stressed, and feel disconnected from the rest of the team, while customers end up flocking to your competitors.

One way that simplified contract onboarding helps you is by increasing customer engagement. The process benefits new customers, existing ones, and company leaders alike.

Reading time: 3 minutes, Photo by Kelli McClintock on Unsplash

Tales From The Future: an immersive view on the contracts of the future

on December 4, 2020

‘Sign here, here and here’. Signing a contract makes me a bit tense, those are not the contracts of the future I would like to have or sign.

Contracts nowadays don’t serve people as they should. They are unnecessarily hard to write and read. The endless legalese makes them a daunting matter. Their binding power is not bulletproof.

There are 19.972 words in the iTunes terms and conditions. Shakespeare’s Macbeth has 18.100 words. When you click “I agree”, you’re saying to iTunes that you have read something longer than Macbeth.’ In short, today’s contracts do not enable optimal and risk-free decisions.

At Trakti we are crafting contracts of the future to serve people and businesses not the other way around.

Reading time: 4 minutes, Photo by Joshua Sortino on Unsplash

What are the benefits of Smart Legal Contracts for companies?

on December 2, 2020

We have reached the next stage in the expression of commercial arrangements. Blockchains are increasingly being used to foster and execute legal agreements, supporting a new generation of electronic Smart Legal Contracts. Blockchain networks and computer programs called “smart contracts” enable parties to memorialise all or parts of legal agreements. By using this technology, contracting parties gain the ability to create arrangements that are hard to modify, dynamic, and potentially less ambiguous than traditional legal contracts.

Reading time: 3 minutes, Photo by Austin Distel,Tingey Injury Law Firm, Kelly Sikkema on Unsplash

Contract management