ContractZen Review: All-In-One Digital Governance And Contract Management Solution
Considering the COVID-19 pandemic, it’s easy to see why organizations are turning to efficient ways to manage business documents and schedule meetings – especially when most of them are already working remotely.
Companies need a digital governance solution to better adapt to the new normal. In other words, they’re looking for a platform that can match corporate file management and provides access to features that allow users to share and store important business documents in a secure, centralized location.
Enter ContractZen – an all-in-one digital governance and contract management solution that comes with a range of powerful features. These include:
- Contract management tasks such as uploading, storing and managing contracts from a centralized location.
- Meeting management tasks like scheduling meetings, discussing the meeting agenda, and digitizing the corporate meeting process.
- e-Signatures to securely get documents signed electronically.
The platform is designed for both small and medium-sized businesses and organizations in mind. That said, it’s also suitable for bigger business units and departments of large enterprises. In this post, we’ll take a look at how ContractZen enables organizations to simplify contract management in a secure and efficient way.
Digitized Contract Management
As employers and workers are adjusting to the new reality of working remotely, organizations are rethinking ways to manage contracts efficiently. For starters, they need a simple and reliable way to make contracts more accessible to people regardless of their location, device, and timezone.
Good contract management is important for digital transformation which is why businesses need better visibility into contracts and how they’re managed.
For enterprises working remotely, cloud-based contract management is an important feature as it helps them handle contracts remotely while ensuring visibility and control. Moreover, it makes it possible for different departments of an organization to collaborate with one another and ensure that all the required steps are followed in the contract management process.
One way organizations can stay on top of this is by automating contract management tasks and controlling and tracking progress in real-time. Businesses can not only minimize contract creation time but also increase control and prevent information silos from forming.
ContractZen is a powerful contract management tool that lets you set automated reminders to contracts so that team members working remotely are notified in a timely manner. Its drag-and-drop contract import feature lets you easily import multiple documents into a cloud-based, centralized platform allowing remotely operating companies to manage documents efficiently and in an organized way.
In addition to this, ContractZen’s built-in metadata tagging system creates dynamic folders that help you quickly search for contracts. You’ll also be able to classify documents depending on the type of information they contain using a metadata-based storage implementation.
As a result, all members of an organization can access important information in an efficient way, even if they’re working remotely. Managing contracts and documents using metadata also helps you group together related documents and quickly access each one. For example, you can use metadata to create a different tag for different types of contracts like NDA, licenses, and rentals.
Keeping in view the ongoing pandemic, businesses are looking for complete digital meeting systems that offer powerful collaboration tools as well as organizational features. This way, companies can improve communication between teams and departments.
ContractZen allows you to host fully-digital meetings so members can collaborate on projects even in a remote working environment. You can set up different types of corporate meetings like sales calls, board meetings, and issue resolution meetings using the same platform.
It comes with a powerful built-in meeting scheduler that quickly finds free slots for each attendee. ContractZen lets board members create, prioritize, and follow up on tasks agreed upon during meetings. They can have internal discussions and share the meeting agenda and resource materials (like documents and contracts) in a secure way.
ContractZen’s collaboration toolbox enables members to take meeting minutes directly from the centralized portal and view them later. In addition to this, board members can add comments and annotations using the built-in MeetingBook feature. You can also send automated reminders and invites to attendees which frees you up to spend more time on core business tasks instead.
ContractZen also comes with keywords (tags) feature that lets you mark issues discussed during meetings and easily find those conversations later on. The platform also integrates with Microsoft Teams. When a meeting ends, you can share meeting minutes with participants for review, get them electronically signed, and effortlessly monitor tasks agreed on during meetings using the Task Management tool.
Sign Documents Digitally
Social distancing in the workplace amidst the COVID-19 pandemic has increased the importance of getting documents and contracts signed digitally. This is because electronic signatures offer an easier, faster, and safer way to get meeting minutes signed by board members and management.
E-signatures can be done on the go. For example, you can get documents signed using a mobile phone or tablet which means team members don’t have to print documents, scan them, or send them back to the company. Adopting electronic signing practices can help businesses improve the overall customer experience and enable you to speed up document signing workflows.
ContractZen enables you to connect your e-signature service with your contract management system. As a result, you can quickly send contracts and documents for signing while tracking their progress all the way from when it’s first sent to when it’s saved in your account.
Using ContractZen, you can also automate the document signing workflow by connecting with an e-signature service such as Adobe Sign, Assently, DocuSign, and SignHere. In addition to this, ContractZen’s board portal, meeting management, virtual data rooms, and financial administration features also work with the e-signature integration.
ContractZen comes with a full-text search with OCR features along with a metadata tagging system to help you better manage forms and document signing tasks. When you upload a document to ContractZen, it’s automatically transformed into searchable, text-based information. This allows you to quickly search for what you’re looking for without reading through the entire document.
ContractZen is a turnkey SaaS platform that’s incredibly easy to get started with. You don’t have to go through any sort of training to use the platform. It offers a 30-day free trial that you can avail without submitting credit card details.
Its entry-level pricing plan starts at $9.50 per user per month (billed annually) and includes meeting management, contract management, company register, e-signature, financial and administrative documents, virtual data rooms, an unlimited number of contracts, and 50 GB storage space.
It’s worth mentioning that companies with more than 50 users can request a quote and ContractZen also offers discounts to eligible non-profit organizations.
ContractZen Pros and Cons
- Intuitive, easy to use interface and document storage system.
- Built-in alerts for important contract dates.
- Makes collaborative work easy.
- The ContractZen iOS client isn’t as robust as the mobile web version is.
Organizations need a digital governance solution that helps them stay on top of key business operations when going remote, especially during the ongoing COVID-19 pandemic.
ContractZen can help organizations improve contract management workflows and share and store important documents in a secure way. This allows teams to minimize approval times, ensure contract compliance, and increase contract visibility making it easier to go remote. Plus, it offers neat features like a built-in meeting scheduler and integrations for e-signature services.