A significant majority of organizations find it challenging to handle the multi-faceted contract management process that involves many moving parts and steps. Thankfully, you can simplify things and handle contract management efficiently using Dynamics 365.
Let us explore some of the most common challenges faced in the process of contract management.
Problems Faced In Contract Management
Contract language and contract clause limitations
Decentralized contract storage
Missed contract renewal opportunities
Absence of contract document version control
Mistakes and delays in contract signatures and approvals
Slow contract turnaround times
Limited contract visibility
Siloed contract data
Contract non-compliance
Organizations across the world trust Microsoft Dynamics to get rid of these and many more challenges. For instance, you can leverage Microsoft Dynamics to draft contracts, perform reviews, set up approvals, and add updates after negotiations. Organizations can even leverage Power BI and Outlook to maintain contract processes, enforce business rules, and perform data analysis.
Some amazing benefits of Dynamics 365 for contract management include:
Dynamics CRM connectors configured for document management solutions can be utilized to help manage contracts. They can also be used by tracking and automating signature collection from all required signees.
Help you make proactive and data-driven changes to multiple solutions for faster impacts
Take a data-first approach to contract management
Capturing relevant metadata and setting up standardized workflows to handle document management.
Find out how your organization can leverage Microsoft Dynamics 365 to handle your contract needs.