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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.
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
7.Manage expenses and Budgets
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.
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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