It’s important to be able to track your contracts and ensure that they are being complied with all terms and clauses. With Microsoft Dynamics 365, Contract Management processes can be automated, visibility improved, and compliance ensured. In this blog, we are discussing the deciding factors in contract management with Dynamics 365 CRM. Some factors determine how effectively you can manage contracts with the help of Dynamics 365 CRM. As a contract management software provider, Dock 365’s objective is to let businesses utilize their Dynamics 365 and Microsoft 365 subscriptions effectively to ensure contract performance. Let’s see how some of the contract management processes and other factors become critical in contract management with Dynamics 365 CRM.
Contracts are not generated within the legal department anymore
Contract management is no longer a function solely performed by legal. Contracts are created by many different departments within your organization. This can be a good thing because it allows for more flexibility in terms of what kind of contracts you want to create, how they should be structured, and who should be involved in creating them.
For example, sales teams may generate new supplier agreements based on their needs and these agreements will then be managed by an internal team dedicated specifically to working with suppliers. The same goes for marketing teams when they're creating new customer agreements as well as finance teams that manage monthly vendor invoicing processes so that all parties know exactly what has been paid out at any given time during each month's cycle. And if you're looking into automating some aspects of contract management through tools like Microsoft Dynamics 365 CRM, then there's an even better opportunity here.
You can automate contract creation using the CLM software developed by our team which allows users across multiple departments within your company to access powerful features such as contract generation, initiating contract approval, contract requesting, and more.
Large amount of information about your contracts in disparate formats
You probably have a vast amount of information about your contracts in disparate formats. The contract management process is long and complex, but it can be streamlined by consolidating all this data into one system. This will allow you to make better decisions about how to manage contracts and improve business processes overall.
Your data and documents are scattered across multiple folders
The data and documents you need to manage are scattered across multiple folders. It's not easily accessible, searchable, or updated. You can't share it with your team members because they don't have access to the right folder or file format. If something goes wrong with your system, it's hard to recover any data that was lost in the process. You might have to replace hardware or try to recover data through the complicated process. With Microsoft-managed cloud storage to keep all your contract data safe, you can avoid this risk. That’s what Dock 365’s CLM Software is offering.
Ensure your employees are complying with policies and regulations when creating new contracts
To ensure that contract generation is happening by complying with policies and regulations, you should consider the following:
Creating contracts following the company policy.
Ensuring that contracts are created following the legal requirements.
Ensuring that contracts are created following the regulatory requirements.
You want an easier way to monitor contract expiration and renewal dates. While Dynamics 365 CRM can help you track contract expiration and renewal dates, it can do so in a way that's not as intuitive. With Dock 365’s CMS integration for the Dynamics 365 CRM platform, you get a more simplified way to review and renew contracts. You also have the option of creating a workflow to automatically create a new contract, and retrieve data more effectively.
Monitoring and tracking contract compliance with your organization’s policies and procedures
Renewal helps you ensure that your clients are compliant with the terms of the agreements. Visibility provides a way to identify opportunities for renewal or other options, as well as any legal requirements that may impact renewal timing. Contract lifecycle management (CLM) gives you visibility into the status of each contract at any given time, so that if there are any issues with a particular agreement, they can be resolved without having to close off access until everything is back on track again.
Dynamics 365 - CMS Integration
You can integrate your contract management system with the Dynamics 365 platform with the help of a CMS integration. With the help of this integration, you will be able to create, access, and maintain your contract data in the most productive ways. Your team can access the contracts without leaving the Dynamics 365 platform. Furthermore, this will allow them to make instant moves that will let them close deals faster and be more proactive.
With Dock 365’s Dynamics 365 integration, your Contract Management processes can be automated, contract visibility can be improved, and compliance will be ensured. We are offering a CMS tool that has been designed to enable you to streamline your contract management processes, by providing a central repository for all contracts, along with other advanced capabilities. This ensures that all contracts are stored in one place, allowing you to easily search for information without having to sift through multiple folders on drives or servers across the organization!
Other capabilities like E-signature, contract automation, advanced report generation capabilities, intuitive dashboard, vendor management portal, and scalability are also factors that make our CMS platform highly capable. Moreover, the platform is built on Microsoft 365 and SharePoint, thus allowing you to utilize your Microsoft investment further.
