Instantly start a collaboration session with anybody, anywhere. Simply send a collaboration request to any internal or external individual that needs to review, comment or contribute to the contract content. Multiple individuals can view the document together in real-time, make comments or note changes. All comments and notes going into a structured task list ensuring you don’t lose track of important changes or questions.
Don’t just track changes, manage them. Each comment, question or modification request for a document is logged as a separate activity. Activities can then be tracked by the primary editor to ensure everything is addressed. Contributors can see the status of modifications any time or the reason that a change was not incorporated.
When using the DocTract Contract Management solution, all documents are retained within the secure repository. During the document review and revision process, only the primary editor has access to the source document. All other contributors only access the document through the repository, eliminating the inherit risks of simply emailing documents around an organization.
Quick and easy access to the templates used by your organization. Each template can be quickly found and downloaded, regardless of the type of template. New templates can be uploaded and organized with full access controls built into the process. Utilizing the version control built into the DocTract Contract Management solution allows for easy publishing of new versions of each template.
DocTract provides unlimited review and approval levels. Reviews and approvers can be the same individuals or two completely different groups. You can even specify the approval flow at the document level if needed. Keep it simple or get sophisticated, DocTract can handle all of your scenarios.
DocTract provides a full audit trail throughout the Contract process. Contract owners can bring up any Contract they have access to and see who reviewed it, who approved it and who signed it. The audit trail is at every point and can track the who, when and what for an action. In the cases of changes, the audit trail even tracks before the change and after the change.
DocTract has a built in Electronic Signature mechanism that is compliant with many applicable Regulations. Contract owners can utilize Electronic Signatures during the the approval process which will require an approver to re-authenticate themselves with proper credentials at the time of the approval. DocTract also integrates with leading Document Signature services for external signature capture on Contracts. (Coming Soon)
As a potential renewal date for a contract enters the renewal window, the Contract Owner will automatically receive an email notification with a reminder to re-process the contract. In addition, the DocTract dashboard will provide an alert for any Contracts set to renew, but have not had any actions yet. Contract renewal dates can be either manually set or automatically calculated from the source document.
Whether a Contract is being renewed as is or requires updated content, the Contract owner can easily submit the new Contract into the review and approval process. Use the original approval workflow or make updates, the Contract Renewal process will make sure that the right people see and review the new version.