2018-01-31 00:00:00 Operations English Use online contract management software to improve productivity, strengthen business relationships, manage documents, and organize... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2018/02/Woman-Employee-Looking-Contract-Errors.jpg https://quickbooks.intuit.com/ca/resources/operations/small-business-efficient-contract-management/ Ensure Your Small Business Has Efficient Contract Management

Ensure Your Small Business Has Efficient Contract Management

1 min read

Contract management gives your small business a seamless way to organize, create, and sign contracts. Whether you’re managing contracts from vendors, customers, or employees, this type of management software serves as a modern day filing cabinet. Online contract management keeps your records in one central location and improves productivity by eliminating the need to handle paper documents. Contract management can also improve productivity with features that track specific dates and create automated reminders throughout the lifecycle of the contract.

Contract management software can strengthen business relationships with employees and vendors. Online contract management provides a faster solution to emailing, printing, or scanning documents, which increases efficiency and reduces frustration for employees and vendors. Designed for a simple and easy signing process, online contract management eliminates the need for a physical signing and in-person meetings. This type of management software ensures accuracy by properly labeling contracts, which reduces contract delays and loss of revenue.

Online contract management software encourages collaboration and protects your company’s data. Whether it’s an external accounting team or legal counsel, you may need to offer access to various contracts, and this software provides a quick and temporary solution for collaboration. With strong security measures,

such as data encryption and two-factor authentication, contract management software guarantees privacy and delivers impressive data protection.

Manual contract management is more time consuming than online management software. A manual approach requires an employee to physically file and organize contracts or email and fax contracts to vendors. This approach offers a higher level of risk with document transfer and can be inaccurate. A software approach downloads contracts and documents into a centralized location and offers an effortless way to handle and distribute contracts.

Online contract management eliminates the need for a physical filing system, which frees up storage space and improves productivity for your small business. This management solution offers several benefits, and creates better working relationships for your small business.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

Related Articles

Self-Employment & Small Business Tax Guide

How to File Taxes for a Small Business Navigating the Canadian tax…

Read more

Guide to Registering Your Self Employed Business in Canada

If you’re a self-employed business owner in Canada, you’re legally required to…

Read more

A Guide to Finance & Accounting for Small Business Owners

As a small business owner, you probably have plenty of questions on…

Read more