Visibility and control of all your contracts with Medius Contract Management
Digitize contractual agreements and access them anywhere, anytime in our cloud-based contract automation software. Avoid costly unwanted renewals, and ensure that terms and conditions are adhered to with an online contacts repository.
Why Medius Contract Management?
Create contracts with ease
Quickly create and edit any type of contract with flexible pre-configured templates. You can attach key information such as financials or risk assessments, helping to contextualize agreements.
Sophisticated reporting
Real-time reporting at your fingertips gives you the data and power to manage contract negotiations at ease. Advanced search allows you to track down contracts and terms in seconds.
Never miss a renewal
Automated alerts help you remember renewals, ensuring you never miss an opportunity to negotiate with your suppliers.
Unmanaged contracts, lengthy and expensive processes deplete money and resources
Common challenges you face
- Contracts are dispersed and siloed
- Manual process to create and review contracts
- Lack of audit trail during negotiation, approvals, and amendments
- Manual process to track renewals and performance
Risks of not having a solution in place
- No version control and limited security
- Lengthy negotiation process with back and forth red-lining
- Risk of non-compliance throughout contract
- Inability to understand obligations such as automatic renewals, review cycles and key metrics
Rewards of Medius Contract Management
- A reduction in time required to find a contract by 52%*
- Eliminate paper-based contracts
- Trimming the number of lapsed contracts by 39%*
- Increasing the use of standard terms and conditions ensures compliance*
*Source: Raising the World-Class Bar in Procurement Through Digital Transformation, The Hackett Group 2018
Common challenges you face
- Contracts are dispersed and siloed
- Manual process to create and review contracts
- Lack of audit trail during negotiation, approvals, and amendments
- Manual process to track renewals and performance
Risks of not having a solution in place
- No version control and limited security
- Lengthy negotiation process with back and forth red-lining
- Risk of non-compliance throughout contract
- Inability to understand obligations such as automatic renewals, review cycles and key metrics
Rewards of Medius Contract Management
- A reduction in time required to find a contract by 52%*
- Eliminate paper-based contracts
- Trimming the number of lapsed contracts by 39%*
- Increasing the use of standard terms and conditions ensures compliance*
*Source: Raising the World-Class Bar in Procurement Through Digital Transformation, The Hackett Group 2018
The intelligent filing cabinet at your fingertips
Build and manage contracts
Create any type of contract using flexible pre-set templates configured to your business requirements. Specify detailed metadata, descriptions, and contract types at the click of a button. Activate user permissions and controls for sensitive and confidential documents.
Sign anytime, anywhere with DocuSign
With Medius Contract Management, you will integrate with the world’s market-leading eSignature provider, DocuSign. This allows you to securely sign contracts electronically, across a desktop, tablet, or mobile device. In addition, we offer an automatic issuing of PDF contracts following signature completion.
Features of Medius Contract Management
Real-time reporting and project management
Access reports and analytics for key contract data with a single click. Real-time reports help you negotiate contract terms and costs. Create multiple project plans with repeat reminders, custom dates, and alerts.
Search and link contracts fast
Our application allows you to search and locate any type of contract and key data within minutes. Use advanced search filters to sieve through suppliers, multiple contracts, and historical data within a contract. Create parent and child relationships between contracts and important documents. You can also link agreements, sub-contracts, and renewals to any contract.
No integration to your ERP required
Medius Contract Management is a stand-alone application that doesn’t require an integration with your ERP. This way, our intuitive contract management software gets you up and running in weeks, rather than months. It features
- Interactive summaries and reports to access what you need quickly and easily
- Milestone and lifecycle management
- Visibility into what contract is expiring and what needs a sourcing event
- A collaborative tool housed in one centralized location
Join these organizations who depend on Medius to spend smart
Benefits of Medius Contract Management
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Visibility to all contract activity
Medius Contract Management system follows each contract at every stage of the review, approval, and signing process while capturing all contract data along the way. It also comes with renewal monitoring and version tracking, giving you the visibility and audit compliance you need for successful contract management.
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Time savings and efficiency-boosting
You no longer need to search for paper contracts housed in multiple locations. All your contracts can be found in one easy-to-use location. Quickly create and edit any type of contract with flexible, pre-configured templates.
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Manage your entire contract lifecycle
We provide automated reminders so you will never miss any contract renewals again, ensuring that all contracts are negotiated at the right time. Avoid rollovers, negotiate better contract terms, and maximize cost-saving opportunities.
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Secure cloud-based contract management system
Centralizing all your contracts in a secure cloud-based system gives every authorized individual instant access to the documents they need with just a few clicks. Control user permissions for access and updates to sensitive and confidential documents.
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Class-leading integrations with DocuSign and Microsoft Word
No longer do you need to chase down signatures for your agreements with the seamless integrations with DocuSign. Once your agreements are signed, a PDF is issued to all parties and recorded within Medius Contract Management. With our deep integration with Microsoft Word, you will capture red-lined negotiations between you and your suppliers.
Don't take our word for it. Hear from one of our clients.
Medius Contract Management delivers rapid, secure and highly intuitive management of all contract types and associated documents. Integration with DocuSign, the market-leading digital signature platform, further enables the very best in document management and control.
Luke Howliston
Director of Business Process and Procurement at BetVictor
Contract Management FAQs
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What is contract management software?
A contract management software is used to manage the creation, negotiation, signature, renewal, and data analysis of supplier contracts. It enables businesses to manage routine tasks associated with contracts more efficiently at scale.
Using a contract management system helps teams manage the stages of establishing a contract with little manual work, creating a streamlined process. Often, legal departments are inundated with contract management tasks, so deploying a software to perform these tasks can relieve pressure for them as well.
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Why use Contract management software?
Monitoring and managing all your contracts can be a complex task, especially if you still rely on spreadsheets, shared drives, or even paper-based documents. As a result, many contracts and contract terms can go unseen and unchallenged, with poor terms rolling over year after year.
A contract management process that is managed poorly can result in exposure to legal risks, which is a hefty price to pay when a large portion of revenue is governed by contracts. Poor contract management can also cause key dates to be missed. The objective of a contract management software is to mitigate these risks by establishing a system of record and notify users of important contract dates.
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What are the main functions of a contract management solution?
A contract management system eliminates tedious tasks such as manually entering contract information. It also saves you the job of rifling through disparate paper-based systems, Excel spreadsheets, and even online document management systems with limited control and instead promotes a secure and integrated approach. It helps you scrutinize and understand your supplier agreements.
The system follows each contract at every stage of the review, approval, and signing process while capturing all contract data along the way. It also comes with renewal monitoring and version tracing, giving you the visibility and audit trail you need for successful contract management.