Contract Lifecycle Management

Safeguard contract management process against Compliance Failure, Missed Deadlines, Lack of Control, Poor Reporting, and Compromised Approval Workflow.

Gone are the days when contracts were manually managed and prone to mishandling risks. Today, on average, every organization has hundreds of active contracts that require timely tracking, collaboration, signature updates, and renewals.

Moreover, a recent study says “Inefficient contracting causes organizations to lose between 5% to 40% of the value on a given deal, depending on circumstance.” Thus is imperative to manage contracts systematically.

Knovos’ Contract Management revolutionizes the traditional methods of managing contracts. The solution streamlines the whole process and reduces the risks and costs involved. It enables your team to draft, organize, manage, and update contracts within a centralized console. And it brings uniformity across the sheer number of contracts.

The solution fosters informed decision-making and mitigating risks, especially when organizations adopt a hybrid work environment.

Check out how Knovos’ Contract Management works:

An Enterprise Collaboration Platform eliminating Contract Management risks

Secure Repository

'Single source of truth' for all your contracts. Facilitate an IRM (Information Rights Management) enabled secure repository with the best encryption technology and two-factor authentication.

Quick Contract Analysis

Analyze the contract-related information like Agreements, Dates, Parties involved, Cost, Partnership Terms, Contract Type, Rights, and more in a few clicks.

Renewal Alert

Receive timely reminders on contract renewal dates and contract updates. Automate alerts and notifications never to miss a deadline.

Workflow Automation

Do not play around in silos when it comes to contract approval. The system can automate the entire approval workflow. It drives workplace innovation and boosts productivity.

Advanced Search

AI-powered search automatically finds the clauses and offers a quick search across any number of contracts. The system performs an extensive search that is next to impossible manually.

In-browser Editing

The reviewer does not need to download a file to make alterations. The system supports word, excel, and PowerPoint files enabling real-time editing from the console itself. Tag the documents & leave comments too, whenever needed.

Redaction & Highlights

Redaction is one of the most helpful features for a contract approver. Highlight the clause that requires the special attention of the reviewer and redact privilege content whenever required.

e-Signature

Go entirely paperless. Configure e-Signature of signing authority and speed up the contract approval workflow.

Dynamic Dashboard

Gain complete control and visibility over all contract data. Create a customized dashboard as per your needs and preferences. It helps in tracking the progress of live contracts.