The Contract Review & Approval App simplifies the submission, review, approval and management of contracts in one easy to use tool.
No longer will your staff have to search their inbox or hard drive for the latest version or keep an Excel spreadsheet to manage their contracts. With the Onit Contract Review & Approval App, everybody involved will know exactly:
- Where contracts are in the process
- Who completed the last revision
- Why a contract is blocked
- What the next step is
Contracts are the foundation of your business. They directly impact your ability to meet sales goals and execute on corporate initiatives. But, getting a contract reviewed and approved requires involvement from multiple departments and in most cases the entire process is handled by email.
Leaving the legal department with far too little visibility as to where a contract is, how long it's been there or when it's expected to be completed. Since contracts are so critical, a simple, reliable process to execute their review, approval, execution and management is essential.
Companies that implement a transparent contract review and approval process compress their revenue cycle, have better supplier and vendor relationships, achieve higher contract compliance rates, mitigate risks by having fewer contractual exceptions, and increase internal and external customer satisfaction. Legal, sales, sourcing and contracting organizations can all drive significant business benefit from implementing Onit's Contract Review & Approval App.
Notices can be easily configured to ensure compliance with notice provisions. The App alerts the right people when required notices (e.g. price changes, renewal, or termination notices) are due, and ensures the highest level of visibility so you can manage to the most favorable terms.
Anybody can initiate the process, with or without an Onit account.
Update Routing in Real Time
Any authorized user can make changes to the workflow and add approvers on the fly.
Move contracts to approval more quickly and notify all parties of approval in real time.
Simplified Records Management
Once approved, contracts can be managed using Onit's contract lifecycle management capabilities or deposited automatically in a contract or document management system.
Users can electronically sign contracts and manage them in one easy-to-use tool.
Simple. Intuitive. Affordable.
The Contract Review & Approval App is affordable, intuitive, easy to use, and learn. There is virtually no training to get started.
An iterative review process lets team members collaborate in a shared workspace.
Capture data at the source with powerful forms, questions and checklists.
Workflows are designed to match your unique business processes.