The benefits of Contract Management Software (CMS) are widely known, but in a nutshell, they enable a company to streamline their operations, and where previously several different employees were charged with several different types of software, now these separate processes can be consolidated into one easy-to-use solution. This can potentially result in streamlined workflow, reduced costs, and improved customer satisfaction. All of which can, in turn, lead to higher profits.

So how can we enhance this already improved service? Simple, we implement cloud integration.

Storing our data on the cloud further streamlines and builds upon what we have had up to now with CMS.

Increased Collaboration

Contract Management Software allows different departments to share and edit information in real time, but the cloud makes sharing other documents simpler. Contracts can be prepared on one side of the world, witnessed in real time on the other, and the deal sealed using an e-signature. This arrangement also increases collaboration between colleagues and fosters assistance. Colleagues can work, read and edit together, offering each other advice, assistance and suggestions, which in the long term can only help the company as a whole.

Security

Storing your data on the cloud negates the need to email documents or having to use external memory. When sensitive information is stored securely on the cloud, lost laptops are no longer the potential catastrophe they once were, and server failures are a thing of the past. Should a disaster befall your company: flood, fire, theft, etc, your original files are at risk as well as your back-ups on desktop PCs and servers. Having your data backed-up can avoid any unnecessary anguish by keeping all your records safe and secure. Instead of being stored in a single location, your data is encrypted and stored in multiple locations.

Cost Savings

With Contract Management Software, savings are made by reducing the amount of different software packages that need to be used within a company and the number of staff that need to be dedicated to certain departments.  Adding cloud storage into the equation does away with the need for additional on-site servers, saving on both hardware costs and the cost of upkeep and maintenance.

Workflow

With Contract Management Software, workflow is streamlined by integrating several tasks into the same platform. These tasks can then be automated to further simplify the process. This workflow automation can also be facilitated by using cloud storage. Documentation can be automatically uploaded and then used as and when required by the company and its employees. This data can then be used to create reports using the CMS, or by integration with other software such as Excel or Quickbooks.

Mobility

Utilizing the cloud to store your data frees you from the shackles of the office. You are no longer reliant on your work PC or servers. Your data is accessible from any location, and because of the Contract Management Software’s cross-platform implementation, on any device. Access your files from your office laptop in the morning, on your mobile device from the 18th hole in the afternoon, and on your laptop from the comfort of your own home in the evening.

Customer Service

Contract Management Software used in conjunction with Cloud storage can also have a major influence on customer service. Because all relevant colleagues have access to the software, they can edit and add documentation to the records as called for, and because everything is visible and downloadable as soon as it is amended or created, the user has all available information at their fingertips whenever they need it. If the customer contacts the company, the company can check the records immediately and are in the position to offer the best customer service experience possible. This will lead to higher customer satisfaction, leading to more customers, and therefore increased profits.

As you can see, utilizing Contract Management Software together with a Cloud storage solution can offer a company many benefits if implemented effectively. They can be made to complement each other, making Contract Management within a company almost painless in comparison to how it was only a few years ago.

If you are using Contract Management Software, but have yet to introduce Cloud storage, I suggest you give it a try. There are free services such as Google Drive, Dropbox and Mega out there that you can check out. If you are using neither, there are also several CMS packages available. Just search online and see if you can find the one which best fits your business needs.