Visibility and control of all your contracts with Medius Contract Management
Use Medius Contract Management to store and manage contract records through their entire lifecycle from initial creation to termination and archival.
Why Medius Contract Management?
Create contracts with ease
Quickly create and edit any type of contract with flexible pre-configured templates. You can attach key information such as financials or risk assessments, helping to contextualize agreements.
Sophisticated reporting
Real-time reporting gives you the data and power to easily manage contract negotiations. Advanced search allows you to quickly track down contracts and terms.
Never miss a renewal
Automated alerts help you remember renewals, ensuring you never miss an opportunity to negotiate with your suppliers.
The intelligent filing cabinet at your fingertips.
Build and manage contracts.
Create any type of contract using flexible pre-set templates configured to your business requirements. Specify detailed metadata, descriptions, and contract types at the click of a button. Activate user permissions and controls for sensitive and confidential documents.
Sign anytime, anywhere with DocuSign.
With Medius Contract Management, you can integrate with the world’s market-leading eSignature provider, DocuSign. This allows you to securely sign contracts electronically, across a desktop, tablet, or mobile device. In addition, we offer an automatic issuing of PDF contracts following signature completion.
Real-time reporting and project management.
Access reports and analytics for key contract data with a single click. Real-time reports help you negotiate contract terms and costs. Create multiple project plans with repeat reminders, custom dates, and alerts.
Search and link contracts fast.
Search and locate any type of contract and key data quickly with Medius Contract Management. Use advanced search filters to search through suppliers, multiple contracts, and historical data within a contract. Create parent and child relationships between contracts and important documents. You can also link agreements, sub-contracts, and renewals to any contract.
Acknowledged by analysts and customers
“We’ve designed SolutionMap to aid the practitioner so they may better understand and analyze the customer experiences, market developments and technological innovation of the myriad solution providers by process competency,” said Jason Busch, Founder and CEO of Spend Matters.
A quick view of Medius Contract Management.
Take a look at Medius Contract Management in this two minute product tour.
No integration to your ERP required.
Medius Contract Management can be integrated into your ERP, but the solution is a stand-alone application that doesn’t require an integration. This way, our intuitive contract management software gets you up and running in weeks, rather than months. It features:
- Interactive summaries and reports to access what you need quickly and easily
- Milestone and lifecycle management
- Visibility into what contract is expiring and what needs a sourcing event
- A collaborative tool housed in one centralized location
Unmanaged contracts, lengthy and expensive processes deplete money and resources
Common challenges you face
- Contracts are dispersed and siloed
- Contract creation and review often a manual process
- Lack of audit trail during negotiation, approvals, and amendments
- No process to track renewals and performance
Risks of not having a solution in place
- No version control and limited security
- Milestone and lifecycle management is manual
- Inability to understand obligations such as automatic renewals, review cycles and key metrics
Rewards of Medius Contract Management
- Time required to find a contract reduces by as much as 52%*
- Eliminate paper-based contracts
- Trim the number of lapsed contracts by 39%*
- Increase the use of standard terms and conditions ensures compliance*
*Source: Raising the World-Class Bar in Procurement Through Digital Transformation, The Hackett Group 2018
Benefits of Medius Contract Management
1
Visibility to all contract activity
Medius Contract Management system follows each contract at every stage of the review, approval, and signing process while capturing all contract data along the way. It also comes with renewal monitoring and version tracking, giving you the visibility and audit compliance you need for successful contract management.
2
Time savings and efficiency-boosting
You no longer need to search for paper contracts housed in multiple locations. All your contracts can be found in one easy-to-use location. Quickly create and edit any type of contract with flexible, pre-configured templates.
3
Manage your entire contract lifecycle
We provide automated reminders so you will never miss any contract renewals again, ensuring that all contracts are negotiated at the right time. Avoid rollovers, negotiate better contract terms, and maximize cost-saving opportunities.
4
Secure cloud-based contract management system
Centralizing all your contracts in a secure cloud-based system gives every authorized individual instant access to the documents they need with just a few clicks. Control user permissions for access and updates to sensitive and confidential documents.
5
Class-leading integrations with DocuSign and Microsoft Office
No longer do you need to chase down signatures for your agreements with the seamless integrations with DocuSign. Once your agreements are signed, a PDF is issued to all parties and recorded within Medius Contract Management. With our deep integration with Microsoft Office, you will capture red-lined negotiations between you and your suppliers.
Contract Management FAQs
A contract management software is used to manage the creation, negotiation, signature, renewal, and data analysis of supplier contracts. It enables businesses to manage routine tasks associated with contracts more efficiently at scale.
Using a contract management system helps teams manage the stages of establishing a contract with little manual work, creating a streamlined process. Often, legal departments are inundated with contract management tasks, so deploying a software to perform these tasks can relieve pressure for them as well.
Monitoring and managing all your contracts can be a complex task, especially if you still rely on spreadsheets, shared drives, or even paper-based documents. As a result, many contracts and contract terms can go unseen and unchallenged, with poor terms rolling over year after year.
A contract management process that is managed poorly can result in exposure to legal risks, which is a hefty price to pay when a large portion of revenue is governed by contracts. Poor contract management can also cause key dates to be missed. The objective of a contract management software is to mitigate these risks by establishing a system of record and notify users of important contract dates.
A contract management system eliminates tedious tasks such as manually entering contract information. It also saves you the job of rifling through disparate paper-based systems, Excel spreadsheets, and even online document management systems with limited control and instead promotes a secure and integrated approach. It helps you scrutinize and understand your supplier agreements.
The system follows each contract at every stage of the review, approval, and signing process while capturing all contract data along the way. It also comes with renewal monitoring and version tracing, giving you the visibility and audit trail you need for successful contract management.
"Medius Contract Management delivers rapid, secure and highly intuitive management of all contract types and associated documents. Integration with DocuSign, the market-leading digital signature platform, further enables the very best in document management and control."
Luke Howliston
Director of Business Process and Procurement, BetVictor
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