Contract management software was created by ContractSafecompanyto manage contracts for businesses around the globe. The ContractSafecompany was created by Ken Button together with Randy Bishop. They made ContractSafe because they were running businesses at that time, and they didn’tfind a contract management system that was affordable and easy to manage.InContractSafe, the privacy of the client’s information is taken seriously. Without the client’s consent, the company cannot share the client’s data with third parties.
The primary function of the ContractSafe is to enable people in businesses to work efficiently and increase the speed at which documents move from one department to the other. The software assists business people in completing the contract management cycle, starting from generation, negotiation, administration to the last stage when the contract will need to be renewed. In short, the software simplifies the lifecycle of a contract. People with so many businesses have a lot of work to do, and they cannot keep the records. This is where now ContractSafe comes in to help them in handling everything to do with the contracts. The software does all the work of keeping records of the contract.ContractSafe’s sophisticated contract management capabilities enable teams to find contracts six times quicker while maintaining security. Businesses can discover contracts faster and never miss a crucial contract deadline with a contract management software package.
Alert settings in the software make it unique from any other software. ContractSafe’s customized notifications help keep everyone in the loop, regardless of department or location. The alert settings in the software perform the following functions;
- It sets recurring reminders that can occur daily, weekly, quarterly, or even yearly to remind the clients about the terms of their contracts to prepare adequately.
- Maintain a record of everything, including renewals, expirations, deliverables, and payment due dates.
- Utilize automatic email notifications ahead of important contract deadlines to keep teams on track. This is so important because it ensures that everything is done within time and with no penalties for failing to deliver as per the contract terms.
How secure is ContractSafe software;
- All data and passwords are encrypted with advanced encryption standard (AES) 256-bit encryption. The Advanced Encryption Standard (AES) is a symmetric block cipher that the United States government has chosen to secure secret information.
- Intrusion detection is done regularly. An intrusion detection system, or IDS for short, keeps an eye on network and system traffic for any unusual behaviour. Intrusion detection software provides warnings once any possible risks have been discovered.
- Daily vulnerability scans. Typically, scanners generate analytical reports that explain the condition of an application’s or network’s security and offer suggestions for resolving identified vulnerabilities.
- The database is constantly backed up offsite. Offsite backup is the replication of the data to a server separated geographically from a production systems site. With the contract management software, the account administrators can back up all the files at the client’s will.
- Malware detection is also done regularly in the software. Malware is harmful software created to infiltrate or damage a software system without the owner’s permission. Viruses, worms, and Trojan horses are examples of this. The process of identifying the existence of malware on a host system or determining whether particular software is dangerous or benign is done regularly to ensure that the client’s information and documents arenot accessed easily.
Benefits of using contract management software.
It helps businesses sign their contracts online conveniently and securely to simplify their job, cut expenses, and speed your operations. Using contract management software, companies are likely to save more money and time because everything as far as the business contract is concerned can be done by the software, saving time and even resources.
With the contract management software, businesses can share documents with individuals outside their organization quickly and securely, for example, in financial and tax audits, due diligence processes, and joint venture scenarios. With the contract management software also, it is not easy for third parties to access information about an organization without permission.
Firms can create and send out automated email reminders to everyone in the team. This helps in ensuring that all the team members cannot miss an important date again. The contract management software has also been disadvantaged like for example; if the software breaks down and fails to respond, it can make the firm lose essential documents if they didn’t have any other backup. Visit https://www.contractsafe.com/ and start today.