Contract Management
Automate contract management with M-Files.
Enhance Efficiency and Mitigate Risk with M-Files Contract Management Solutions
Contracts are the heart of business operations, stipulating your relationships with customers, vendors and partners. But if you have not yet adopted software to automate contract management, you may be losing a considerable amount of time to inefficiency while leaving your business exposed to risk and loss of opportunities.
M-Files can help. Our intelligent information management technology serves as a powerful contract management software solution that can accelerate contract management workflows, keep sensitive information in contracts secure and help enforce the terms of contracts to better benefit your business.
Centralize Your Contract Storage
See how M-Files enables you to manage and control contracts digitally through their lifecycle, from creation to archival.
The Challenges of Contract Management
A superior contract management software solution can address several of the biggest challenges related to handling contracts.
Locating Documents
Employees in various departments often save versions of contracts on their own devices or within their email stores. A contract management solution can help to ensure that only authorized users have accessed to contracts and that only the most current versions are saved.
Unauthorized Access
Contracts frequently contain sensitive data or personally identifiable information that could be damaging if exposed. Contract management technology can control access to documents through user access permissions that ensure only the right people can open a file.
Monitoring Contracts
Too many organizations rely on rudimentary methods like calendar reminders and checklists to monitor important contract deadlines. An effective contract management tool will provide a more comprehensive approach to tracking deadlines and compliance with contract provisions.
Unintentional Expiration
When contracts expire inadvertently, the cost and risk to the organization can be significant. Contract management technology can help to avoid this risk by initiating contract renewal procedures well in advance of expiration.
Inefficient Workflows
Many contract workflows are manual processes that are prone to error and chaos when the volume of contracts becomes overwhelming. Contract management software can automate the creation, review, approval, and signing of contracts to improve productivity and ensure price compliance.
M-Files Offers a Smarter Way to Manage Contracts
M-Files is an intelligent information management platform that provides powerful tools for contract management. M-Files’ cloud document management tools provide several key capabilities that can introduce greater efficiency, clarity, and security into the process of creating and executing contracts.
A Better Way to Store Documents
As an innovative document management system, M-Files uses a "what" approach to storing documents, rather than a "where" approach. M-Files tags every document with metadata that describes its content, purpose, workflow, dates, and people associated with the record. Rather than looking for documents in specific locations, workers can find what they need simply by typing a few words about what they’re looking for in the M-Files search bar. In this way, contracts and documents can stay wherever they are currently residing – in network storage, in email archives, within ERP systems, or in other applications and platforms – rather than being migrated to a central data repository.
Faster Search and Retrieval
With M-Files, you can find any contract within seconds simply by searching for the name of the contractor, the type of work being contracted, an invoice or job number, or by other pertinent information.
Automated Workflows
M-Files guides contracts through digital workflows to accelerate reviews, signatures, and archival of executed documents. M-Files can also issue assignments and notifications to personnel when action is needed, and provide updates about the status of contracts at every stage of their lifecycles.
Tighter Security
M-Files provides enterprise-level encryption and uses strict permissions to determine who can access contracts based on their role, group, project, document type, and other criteria.
Benefits of Contract Management with M-Files
Eliminate Mistakes
Use the most recent version of templates along with data pulled from other systems such as CRM and ERP technology to create contracts that are free of mistakes.
Keep Control of Files
Strong security, automatic permissions, full audit history, and version control help to protect sensitive information and minimize exposure to risk and potential penalties.
Enable Electronic Signatures
Integrations with popular eSignature technologies make it easy to execute contracts quickly and efficiently with just a few clicks.
Enforce the Terms of the Contract
Establish workflows to monitor contract terms and notify the right people when milestones occur, action is obligated, or issues arise.
Simplify Renewal and Archiving
Get alerts when contracts are about to expire and initiate automated workflows for renewal or archival.
Greater Visibility
M-Files provides complete visibility into contracts and processes while placing contracts in context with related information such as correspondence, terms, dates, customer or supplier info, and other data that can help to improve contract management.
Improved Efficiency
Seamlessly move contracts from creation to signature while minimizing effort required from workers.
M-Files Knowledge Work Automation Capability Maturity Model
Transform your business with M-Files, the leader of Knowledge Work Automation. Let us help you in assessing your digital maturity and set your path to success.
Work with Familiar Tools
With M-Files, your workers can create and manage contracts using their favorite tools such as Outlook, Gmail, and SharePoint. M-Files integrates easily with most common line-of-business applications, which means your workers don’t need to learn a new tool or get used to a new platform to improve contract management. With M-Files, employees can access relevant, current, and accurate information no matter where it is stored or in what format.
The M-Files mobile client base makes it easy for workers to manage contracts no matter where they are – at home, at a customer’s site, or on the road.
How M-Files Enables Efficiency for Your Business
Faster Search
What you need, when you need it. That is the way M-Files works. Fast, easy, and intuitive.
Familiarity
You can use your favorite daily tools, such as MS Teams or Salesforce to manage your documents.
Easy Collaboration
Share content securely, and co-author documents simultaneously — wherever you work.
Streamlined Daily Work
Let M-Files suggest tags for your documents and add workflows for faster processing.
Why manage contracts with M-Files?
M-Files offers a smarter way to work. By making it easier to find, access and share the right documents with the right people, M-Files eliminates frustration, wasted time and business risk of inaccessible information. By automating document-based workflows, M-Files helps streamline and simplify routine tasks so employees can focus on high-impact, highly-skilled work that yields greater outcomes and higher job satisfaction.
Collaboration is easier with M-Files. Rather than emailing attachments back and forth, colleagues can share a link to a single, authoritative version of a document that everyone can work with and comment on. Secure client portals make it easy to share information and processes with people outside the organization. With M-Files’ integrations and APIs, employees can use the platform with business and productivity tools they prefer rather than learning a new system.
Deployed in the cloud, on premises or as a hybrid solution, M-Files is used by thousands of organizations in more than 100 countries worldwide.
See M-Files In Action
Seeing is believing. Schedule a demo to learn more about simplified search, automatic workflows, intuitive user interfaces, and built-in integrations with existing applications and file systems.
