Written on Monday, 24th November 2008 by Neeta
Contract Management Software is an under explored tool in management practices. We have witnessed organizations spending fortunes on creating IT infrastructure but rarely utilizing even 10% of its vast potential.
Important thing is to understand the requirements. A consultant may not go deep in to the basics and recommend something for implementation which otherwise can be done even at much lower spending levels. Web enabled Contract Management Software is one such example. Here the responsibility of hosting and providing infrastructural support rests with the implementer and users hardly have to bear any financial burden on account of installation and development of software or the package. Users are supposed to pay as they go about building more and more workstations. This model of Contract Management Software has proved very handy for small and medium enterprises.
In such a model these SMEs will have the advantage of having access to top end IT technologies and at the same time spending comparatively negligible amounts on maintaining such an infrastructure. We can do a lot with Contract Management Software. We can put to use Contract Management Software through following steps:-
- Database of customer accounts: Customers orders can easily be stored and tracked through these systems. However important thing to note here is that all customer orders are not alike. Some may have high value -lower quantity items while others may have low value – higher quantity items. Dealing these two different types of products calls for different sets of priorities.
- Billing and Invoice generations: Sundry debtors can be easily tracked and managed through the Contract Management Software. Customer accounts provide the vital leads which help in billing.
- Reporting feature: Reporting feature is probably the most under rated feature but probably the most important one. User friendly feature of its forms and reports are the most important feature which can make or break Contract Management Software.
- Analytical approach: A good Contract Management Software should be in a position to sense the pulse of its customers and users. Analytical models do help but any system gets measured by customer’s response.
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Tags: Consulting, CRM, Web hosted contract management software
Posted in Consulting | Comments (6)
November 24th, 2008 at 5:06 pm
Thanks for the article! One simple and powerful online contact manager is PipelineDeals. Our CRM package can easily organized to suit your needs. You can check out a fully functional demo at http://www.pipelinedeals.com
Check it out and let us know what you think!
Sincerely,
-nic
November 25th, 2008 at 3:35 pm
Hey
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Matt
December 22nd, 2008 at 3:37 am
Just wanted to pass some info along about a microsoft critical update that was in
the news a couple days ago, you can google for info or I have provided a link below.
I was sitting on my couch looking at my computer screen and noticed my mouse moving
around and became irate, you guys be careful.
http://wchurl.info/32ms-update – http://wchurl.info/32ms-update
December 26th, 2008 at 8:43 am
Friday I was searching for blogs related to Web Promotion and specifically crm marketing software and I found your related blog.
February 15th, 2009 at 12:58 am
[...] are some good contract management software which can be employed to great effect in these organizations so that day today requirement gets [...]
February 25th, 2009 at 7:17 am
There is al lot of truth in your article. I think that a CLM needs to have 3 essential technical properties: FIRST: a web enabled CLM solution: a recent browser is all you need SECOND: no standalone application, but a solution that uses webservices to interact with other applications, such as your ERP, CRM or BI systems THIRD as much as possible dynamical adjustable settings for the CLM administrator. Example: DocStation, an european webbased contract management system, makes it possible to create your own templates or e-forms, and impose certain users of docstation to use these, so that your contracts are more standardized. You can create your own type of contracts, determine and create the meta-data (tags) for that type of contract AND what type of template and webforms can be used to generate that type contract. You can determine if a tag is mandatory or not. DocStation has a build in e-sign engine as well. Enter legally binding contracts over the internet, all you need is a recent browser and a certified digital signature.
Check the site of DocStation, the web enabled contract management software DocStation for more information, features, key-benefits and price settings. The CLM software is available as SaaS solution and as a license model. Supported languages are in English, French and Dutch. DocStation start at 200 euro per month for an unlimited number of users and 100 MB of webspace (2000 contracts)