As a business owner, you know it’s crucial to manage risk as best as possible. Without controlling risk, there’s the potential for loss in income as well as lost opportunities. Of course, the best way to mitigate risk is to control uncertainties as much as possible by creating reliable processes. That’s why we love Conga! It acts as a complete contract lifecycle management (CLM) tool that enables any business to administer all aspects of the contract lifecycle for both buying and selling! So if you’re looking to minimize risk and get a better handle on your contract management read on:
Conga Makes Reading Contract Terms Easy
Always read the fine print! As a business owner, you know how important it is to read a contract before signing it. However, contracts are often full of complicated terms. Luckily, Conga is a sophisticated contract lifecycle management system with several ways to search contract text. For example, you can search for a specific term such as “Compete” or use a Boolean search query to refine all of the contracts in your database! You can even use Conga Contracts to search for all contracts under the law of any country and contracts with a Services contract type. Don’t waste time manually rereading contracts and minimize risk by using Conga’s search capabilities.
Conga Helps You Optimize Efficiency and Improve Insight
Another excellent way Conga Contracts minimizes risk is by offering deep insight into problem areas in your contract lifecycle. Conga comes with Clause Management capabilities that act as a clearinghouse for all your approved clauses. This provides greater control and visibility into every document’s content, and it enables you to upload a contract in PDF format, so the system can search for and add clauses that are not in your library yet. What’s more, you can quickly view different versions of a clause, and integrate them with a pre-approved clause library to compare changes in clause language. You can then use these approved clauses as a point of comparison or negotiation for future contracts, further mitigating risk.
Conga Analytics Improves Contract Management Practices
We also love Conga’s built-in analytics, which gives your team crucial insight into your contract management practices using a sophisticated and flexible reporting interface. Conga comes with a variety of charting options and custom calculations. You can find all the data you need to minimize risk!
With Conga’s analytics, you can:
• Monitor contract expiration dates
• Improve contract signature/approval cycles
• Get better insight into contract accountability
• Create ad hoc reports to satisfy cross-departmental requests
These analytics offer superior insight into the workflow and facilitating project management. It also enables you to identify which steps or contract types are creating slowdowns. And the best part? When you use Conga Contracts, the entire process is automated, including drafting, negotiation, workflow and approvals, reporting, renewal management, and electronic signatures!
Arketek Can Help You Minimize Risk Even More
The key to mitigating risk, enhancing efficiency and contract visibility is the right tool! But if you want to minimize risk even further, you need an expert to help you implement that tool. At Arketek, we’re not only Salesforce experts, but we’re also Conga certified! That means we can help your business set up a CRM like Salesforce and all the third-party software you need to fit your unique business needs. When you work with us, you save time, improve ROI, and rest assured that everything is done quickly and efficiently, so no precious data is lost. Your team will also readily adopt any new systems with ease. So if you’re looking to minimize risk and maximize your profits, get in touch with us today!