CLM Matrix

SharePoint® As A Contract Repository

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When companies create solutions that solve real problems, life is really good. Sometimes they get lucky and solve problems we didn’t even know we had — like PostIt® notes. And sometimes they are intuitive and smart and can see trends others cannot. Microsoft is really good at this. Yes, they have occasionally succumbed to the “feature beyond need” disease that affects many technology companies — think Microsoft Word — honestly, who among us either knows or can use all the features within Word? But today, their focus in on SharePoint and it’s turning out to be their biggest success yet. Of course, years in the market and total domination never hurts, but, they do keep delivering!

SharePoint has opened a lot of communication doorways within companies. Now IT executives will sometimes cringe and do have moments of panic as they try to understand how to control, standardize, monitor, and get a handle on the data/information that tends to multiply like rabbits within SharePoint. But for the most part, everyone is seeing and reaping tremendous benefits from this collaboration tool.

Using SharePoint as a contract repository is an excellent use of this powerful enterprise-wide content management portal. Getting all your contracts into this portal and applying the necessary meta-tags so you can extract information from the data, is an effective first step in understanding your contractual obligations. It can help you answer questions about how you make money and the risks involved in your various business commitments.

From here, companies like ours can get you to the next level — by creating rules-based workflow processes, alerts, visibility, etc. The goal of course is to start where you are, and evolve in a meaningful, forward-focused way.

by CLM Matrix

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