You’ve probably heard of Contract Management Software (CMS), and you might have even implemented it into your workflow. But, how familiar are you with Contract Collaboration Software (CCS)?
If you’re like most organizations, the answer ranges anywhere from “not very” to “not at all.” That’s because CCS is a relatively new category of software. It is quickly becoming essential for businesses and law firms, though, as it enables legal, sales, and procurement teams to close deals faster and more precisely.
With CCS, multiple teams can easily coordinate projects and work together for a seamless process from start to finish. You can redline contracts, ask questions, and make changes all in one place without needing to rely on new versions or getting lost in a mess of edits.
As contract collaboration software becomes more popular and available, you should understand which essential features to look for to help your business operate efficiently and effectively.
5 Things to Look for in Contract Collaboration Software
Contract collaboration software makes it easy for different teams to work together in a native contract editing platform, whether they are sharing an office or working from remote locations. Save your legal, sales, and procurement teams valuable time by investing in CCS with these five critical features.
1. Ability to invite colleagues and co-author at the same time
It should be easy for your colleagues and a co-author to join a collaborative document. With DocJuris, for example, you can invite colleagues and co-authors to view and edit a document at the same time.
2. Separation of internal vs. external comments
The internal notes you share among colleagues shouldn’t be accessible to clients and outside parties. CCS that separates internal and external comments ensures that counterparties will only see markups and designated external comments that have been approved or drafted with precision in the DocJuris editor.
3. Incorporation of playbooks and past redlines to accelerate knowledge share
Why reinvent the wheel every time you redline a contract when you can refer to your existing playbooks and previously redlined documents? CCS from DocJuris lets you easily incorporate language and information from your playbooks and past redlines to accelerate knowledge sharing and improve current documentation.
4. Comparisons to run redlines
One challenge with Word documents is that it can be difficult to see changes made when the “track changes” feature is turned off. CCS should allow you to easily make comparisons between different versions by running redlines and finding all changes that were made, regardless of whether or not the person editing used “track changes.”
5. Integration into the tools your business already uses
Your company has already invested time and money into productivity tools. Any contract collaboration software you add to your business should integrate seamlessly with them to improve your workflow instead of confusing it. Look for software that integrates with your existing systems so you can be up and running with no downtime and minimal training.
DocJuris offers these five essential features and more for companies that need a better way to redline contracts and collaborate between teams. Schedule a demo to learn more about how DocJuris can benefit your business.