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Contract Management

Contract Creation:

Utilize contract templates and intake forms to streamline drafting while ensuring all details are included.

  • Utilize contract templates and intake forms to capture initial contract details efficiently.
  • Tailor each contract to specific deal requirements while ensuring completeness and accuracy.
  • Employ CLM platforms for streamlined contract generation requests and automated best practice support.

Negotiating and Collaborating

Facilitate negotiation processes through version control, shared access, and audit trails, minimizing errors and miscommunications.

  • Initiate negotiation processes post initial draft delivery.
  • Facilitate back-and-forth redlining and communication between parties.
  • Ensure version control, shared access, and audit trails to track changes and maintain document integrity.

Contract Signing, Review, and Approval

Automate internal approval processes to prevent delays and ensure all stakeholders are involved and informed.

  • Send final version for internal approval, involving relevant stakeholders.
  • Automate approval processes to prevent delays and ensure timely execution.
  • Monitor status and turnaround times with CLM software for efficient management.

Contract Storage

Store signed contracts and related documents in a centralized repository for easy retrieval, compliance, and improved operational efficiency.

  • Store signed contracts and related documents in a centralized repository.
  • Enable easy retrieval and compliance with legal requirements.
  • Improve operational efficiency through organized storage and quick access to pertinent data.

Easing up the Search Process

Implement search filters and retrieval techniques for quick access to contracts, enhancing productivity and confidentiality.

  • Implement robust search filters and retrieval techniques for quick access.
  • Ensure confidentiality and precise search capabilities for protected contract information.
  • Digitally store contracts with built-in search capabilities to expedite document retrieval.

Contract Tracking and Reporting

Utilize CLM software for automated reminders, updates, and task allocation, minimizing risks and improving decision-making.

  • Utilize CLM software for automated reminders, updates, and task allocation.
  • Monitor contract performance and deadlines to mitigate financial and legal risks.
  • Enhance decision-making with visibility into performance data provided by the software.

Contract Renewal and Disposition

Manage the entire contract lifecycle from creation to termination, automating procedures and optimizing outcomes based on performance evaluations.

  • Evaluate performance and future capacity to fulfill contractual commitments.
  • Decide on contract renewal or termination based on thorough assessment.
  • Ensure all outstanding responsibilities are fulfilled and financial arrangements are completed accordingly.

Contract Lifecycle Management (CLM) software is used to efficiently create, collaborate, approve, store, and manage contracts. It ensures compliance, reduces risks, and helps organizations track key dates, renewals, and costs. CLM software integrates with other systems, offers security, and generates valuable insights for better contract management.

Contract automation software is a type of technology that automates the creation, management, and processing of contracts. It uses predefined templates, standardized clauses, and rules to streamline the contract lifecycle. This software helps organizations generate contracts faster, reduce errors, and enhance efficiency by automating repetitive tasks like data entry and approval workflows. It can also facilitate contract collaboration, storage, tracking, and compliance, ultimately improving the overall contract management process.

You can measure ROI from Contract Lifecycle Management (CLM) by comparing the cost savings, efficiency improvements, and risk reduction achieved through CLM software against the initial investment in the software and ongoing operational costs.

CLM stands for "Contract Lifecycle Management" in the context of contract management. It's a system for handling contracts throughout their entire lifecycle, from creation to execution, tracking, and renewal.

The benefits of contract management include cost savings, risk reduction, improved efficiency, enhanced compliance, better collaboration, and increased contract visibility.

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Matter Management & Case Management Software help legal teams manage all legal issues – matters and cases – on a digital platform. It keeps a record of all the matters / cases, their related documents, and auto-updates case status from relevant court rulings online. This means, lawyers can easily search the case, documents, filing etc without any time wasted, and never have to worry about missing dates or updating the ruling details.

Matter management refers to all the tasks that a corporate legal department carries out in the course of its operations. A matter can range from responding to a legal notice to fulfilling legal obligations related to acquiring an entire company. Case management, on the other hand, encompasses a range of activities involved in resolving a specific legal dispute. This includes drafting and filing legal documents, conducting research, organizing case information, generating litigation reports, handling billing and invoicing, and collaborating with other lawyers working on the same case.

While generic project management software can be useful for managing tasks and deadlines, legal matter management software is specifically designed to meet the unique needs of legal teams. This type of software typically includes features such as document management, time tracking, billing, and matter-specific workflows.

RazorSign is very easy to use as the software is very lightweight, with a simple yet attractive UI and native integrated modules, which speed up the customer experience. The entire application is very intuitive, and is a simple select and click functionality based, with a comprehensive menu specially designed for easy execution.

1.Manage & Track Matters in one secured place
2.Available on either desktop or mobile
3.Automated reminders & Alerts
4.Automated case updates
5.Manage related documents
6.Track Payments
7.Manage expenses and Budgets

RazorSign and
digital contracts

Digital signature can be used to sign a wide range of documents including contracts and agreements of varied nature-employment contracts, sale agreements, lease agreements, NDAs, MOU, real estate documents, among others.

Section 15 of the IT Act, 2020 categorically stipulates that an electronic signature shall be deemed to be secure wherein if, (i) the signature creation data, at the time of affixing signature, was under the exclusive control of signatory and no other person; and (ii) the signature creation data was stored and affixed in such exclusive manner as may be prescribed. Furthermore, 66C of the Act also renders punishment and penalty for identity theft, which includes electronic signatures. As the stewards of data, RazorSign ensures to handle personal data of voluntarily disclosed by the users of our e-Signature platform with utmost care and diligence and well in line with the international standards of data collection, and data retention policies. We also maintain an Audit Trail for the processing of personal data that is in accordance with the General Data Protection Regulation (GDPR).

An Audit trail is electronic document containing the logs of all the activities that take place during the signing activity in a transaction on the document. Details in an audit trail include the details of the public IP of the users of the e-Signature platform, location, and the timestamp of the overall transaction. We continually improve our audit trails and use best industry practices to improve overall visibility and maintain the trust of our clients.

RazorSign handles personal data, voluntarily disclosed by clients. The data retention policy for the company is to store information for no longer than necessary and for the lawful purpose as detailed under our Privacy Policy and general terms and conditions.

All information pertaining to existing and potential clients are collected and stored following practices such as instance isolation, symmetric and asymmetric encryption techniques, one-way hashing algorithms. Data is also saved on FIPS-140-2 Level 2 compliant hardware security modules, where different security and protection methods are adopted to store information with disk-to-disk-to-tape, method.

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