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Contract Versioning, Review Tracking, and File Management

Overview of File Management and Storage Apps in the Context of Contract Intake and the Contract Review Process

Strengths of File Management and Storage H3

  • File Storage and Management apps, such as Google Drive, SharePoint, Dropbox, OneDrive, Box, etc, provide teams with cloud based, encrypted file systems that allow for contract review teams to work asynchronously, while protecting document integrity and storage.
  • Never has safe, reliable, accessible storage solutions been more important than the last two years as business have evolved to remote based work.
  • As documents or Turns of documents are created during the contract review process, historical records of the entire contract lifecycle as it evolves are preserved.

Improving with Contract Review Apps

  • Contracts stored on these cloud based services still have to be downloaded, attached, and/or saved with users notified; all requiring direct user input.
  • Contracts have to be renamed / relabeled and stored in an appropriate file structure.
  • The additional steps cause the process to become more disjointed as different apps are used to manage the historical record of a particular CLM.
  • As vital as File Management and Storage App solutions are, they cannot assist with the actual contract analysis, but DocJuris can.  

Automation and DocJuris

  • File Management and Storage applications can be integrated with DocJuris through connectors like Zapier or Power Automate to easily automate several steps within a work flow, specifically in maintaining an historical record, auditing purposes, and recordation.
  • If a system is set up that uses a team spreadsheet or other recordation system, automations with DocJuris can save time by adding pertinent, user determined information that is already directly coded for use in the API available to all DocJuris users.
  • Automations can populate a team file storage and management app with each version of the review process; every contract can be saved without ever omitting a version.
  • The real power of automations with the DocJuris API shows when you combine automations with other App categories like Project Management, notification Apps, and Client intake to have one or several automated streamlined processes, saving your team time and money, all while improving both accuracy and efficiency.

Use Cases:

CLM use case

Use Case 1: A New Contract is Uploaded to a File Storage and Management App and is Uploaded to DocJuris for Analysis  

  1. When a Turn is created within DocJuris, a Task or Subtask can be created within Todoist, Google Tasks, Any.do, Microsoft To Do, etc.
  1. Contracts, historical redlines, and assessment reports can also be attached to the Tasks or SubTask.
  1. Managers can automate assigning specific team members to tasks, track progress, and isolate bottlenecks.

Use Case 2: A New Turn is Added During the Review Process, an Entry is Made in a Recordation or Auditing Spreadsheet, and the Contract Analysis Team Needs to be Notified

  1. Each time a New Turn is added, it can be automatically downloaded from DocJuris, attached, and stored including metadata and content to a file management location.
  1. An entry can be added to a recordation or auditing purpose spreadsheet to show what action was taken, at what time, and by whom.
  1. If users are mentioned in internal comments, an additional automation can also generate a row on spreadsheets in document management systems to include content and metadata.
  1. Additional automations can notify users, create tasks or subtasks in Project Management apps, attach all relevant documents, or notify through email and text apps.

CLM use case
  • By using Zapier to connect DocJuris to any of the integrated Apps, complex automation can save your team time and improve process workflow accuracy.
  • If It is all automated, human error decreases.  

Use Case 1: A New Contract is Added, Auditing and Recordation Logs Created or Updated, A Task is Added in Project Management, and Users are Updated

  • When a new contract is added to a cloud based team File Management and Storage App, an automation triggers that it be uploaded into DocJuris.
  • The contract can then be analyzed, the Screening Report generated, and attached to email and/or the following automations along with any other relevant information, like the original contract.
  • Every Turn and counterparty communication can be automated to populate a Team File, preserving historical record.
  • For each Turn, Internal Comment, or Counterparty review, automations can add a line to a recordation spreadsheet, upload that version's contract, and the Screening Report from DocJuris.
  • Automations can then connect to Project Management Apps and Task Management Apps to assign tasks or subtasks and attach copies of the original contract, Early Assessment Report, and assigned to team members for efficient workflows and project roadmaps.
  • Notifications are sent to both phone and email through Apps like Twilio or Podio.
  • All of this can be done with very minimum structure organization and zero man-hours once automation is running.
  • Project managers can see exactly where the bottlenecks exist to best effectively manage resources, maintaining goals and deadlines.
  • Billing, Auditors, or Accounts Payable Specialists have a record of time spent on each portion of the contract review.

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