Self-Service Contract Creation – Saving Time, Money, and Energy

Self-Service Contract Creation – Saving Time, Money, and Energy

Often times during the contract initiation process, a member from sales, procurement, HR, or other department is looking to get a contractual agreement from the legal or contracts group in a quick amount of time so that engagements can start. The problem with this situation is two-fold: 1. The legal or contracts group is already overwhelmed with managing and creating contract requests, active contracts, as well as milestones and obligations and 2. There is often a lack of communication between legal and the rest of the organization as to when contract requests can be fulfilled. A simple way to fix the problem is to allow for self-service creation of simple, standard contracts. For example, if you always use about the same verbage for standard templates such as NDAs, SOWs, or other basic agreements, groups or individuals looking to initiate these types of contracts could do so on their own. By simply entering required information such as counterparty information, start and end dates, any commercial values, etc. contracts can quickly and easily be created. If need be, the contract can get routed to a supervisor or legal team member for review and/or approval before it is issued and a signature from the counterparty is requested. So, this may sound good in theory, but how does an organization set itself up for success in doing self-service contract creation when it has been differently since (potentially) the beginning of time? Organizations/individuals content with status quos may be less thrilled about moving towards a self-service model, but the process itself will save time and money in the long run. For example, if the...
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