Smart Contract Management Software: Automation for Small Business Success

Smart Contract Management Software: Automation for Small Business Success

Smart Contract Management Software: Automation for Small Business Success

March 16 2024 by webcm

If you’re running a small business, you’ll know that it’s no walk in the park – at least not in a calming, nervous-system-reset sort of way. No, it’s more like a walk in the park with a large and unpredictable dog, especially when it comes to the beast known as contract management. Yes, we’re also talking about that pile of paperwork you might be using as a makeshift laptop stand!

But, if you’re familiar with dogs, you’ll know that no matter how big they are, they can usually be trained. And, the same can be said of a ‘ye olde Contract Management System’—with a little TLC ( and a robust digital platform) you can cancel the paperwork, take your contracts online and let automation blow the whistle, remind you of the good work you’ve been doing and maybe reward you with a treat or two at the end of each quarter.

Here’s more on howAutomated Contract Management Software works to empower your business:

Scheduling and Alerts

A system featuringautomation makes it easy to schedule a series of smart alerts that remind you of important dates and actions needed on your contracts. These alerts can be tailored for different intervals, ensuring you’re always a step ahead. For instance, you can be notified about a contract renewal 90, 60, and 30 days in advance, giving you ample time to prepare and make informed decisions. This feature is particularly crucial for managing subscriptions, service agreements and any contract with a critical timeline.

Compliance Checks

When managing contracts, one crucial aspect is staying on top of compliance, particularly when it comes to licenses and regulatory requirements. A contract management system with automated compliance features can proactively monitor the expiration dates of licenses, permits and certifications. Before these critical documents expire, the system can send out automated alerts, giving your team ample time to take action. This pre-emptive notification helps keep your business operations uninterrupted and legally compliant, safeguarding against the risks of operating with outdated credentials.

Contract Performance Analysis

Lastly, understanding the performance of your contracts is key to the strategic growth of your business. Automated analysis tools can examine contract data, highlight trends, monitor obligations and measure outcomes against your business objectives. You gain a dashboard view of which contracts are about to expire, which are most profitable and which may be a drain on resources. With these insights, you can make data-driven decisions, such as identifying opportunities for cost savings or renegotiating terms to be more favourable.

Ready to Tame the Beast?

If you’re ready to move on from the endless tail-chase of missing contracts and forgotten deadlines, WebCM offers a robust, yet simple contract management software solution that you can try, obligation-free, for 90 days. Get acquainted with a system that’ll allow you to manage your contracts like a well-trained pup – reach out to us today and experience for yourself, the impact smart contract management can have on your business.