Knowing the importance of contract compliance is one thing, understanding it is a whole different ballgame….
Contracts establish the promises and parameters of business relationships. All businesses must have contracts– whether for services, goods, employment, leases, supplies, consultants… Contracts are so important that how they are managed not only affects profitability but is a major compliance and regulatory issue for all industries.
Being able to keep up with contracts, their terms, deadlines, renewals, pricing and life cycle is vital for success and profitability. Without a platform to manage contracts—a platform that is easy to use and accessible–businesses lose the benefit of even simple contractual terms, which can result in prices being raised or not raised…. lack of performance, and automatic renewal without an opportunity to evaluate and negotiate. Without consistent organization and access to contracts, businesses lose the benefit of their bargains. Managing contracts allows a business to be more efficient, promotes internal communication, and increases profitability. l
Comtracts offers a new platform for businesses to organize and manage contracts. Comtracts’ digital platform automates contract organization, communicates deadlines, and provides remote and easy access. Managing contracts with an organized, secure cloud-based system rather than a file full of notebooks that hold hole-punched copies of contracts gives a business the tool it needs to control its contractual relationships. Comtracts offers a tool that it easy to use, saves time, and makes businesses more efficient and compliant.
Comtracts’ system allows clients to establish parameters and uniformity for contracts. Using Comtracts’ system, a client can establish a contracting process that can result in uniform contractual terms and a consistent review and approval process for contracts. But even more basic, Comtracts’ system allows a business to control its contracts rather than the other way around! This is why, when it comes to contract compliance, we have your back.