Contract management with Excel is still a common practice in 2021.
At Inhubber, we have developed a platform that is intuitive, clear, and yet large enough to act as a contract management solution on its own. At the end of 2020, we integrated Share Point, providing our users with an ideal solution to transfer and constantly exchange their data. Thus, the use of Inhubber is very multi-functional.
SharePoint can be used for process management, team collaboration, and also as a web content manager. For this reason, SharePoint and Office 365 are used in many companies as a platform to support the implementation of various digitization strategies.
People still like to use Excel for contract management. However, if your organization already uses SharePoint or Office 365, then it makes sense to use contract management compatible with it as well. After all, using contract management software not only benefits users and customers but also the IT department.
Inhubber contract management thus represents an additional expansion stage. With a professional solution, contracts can be stored highly secure and linked intelligently.
Contracts are often very coordination-intensive. They require approvals at various points in the company or joint work on documents. Access to SharePoint results in very tight integration with applications such as Word. This means that users can also work on contract documents in parallel in a familiar environment.
There are also advantages for IT: If a central platform can be used instead of many individual products, the IT department’s expertise in the strategic platform grows. Training and maintenance work is thus reduced.
By using a unified SaaS solution, such as Inhubber, there is no need for additional applications, because Inhubber already brings essential functionalities for contract management. These functions are used to maintain contract properties, similar to a central Excel list. Besides, documents can be organized under labels. This already results in optimal handling of current contracts.
Since SharePoint and Microsoft 365 do not solve all problems, it is deceptive to believe that you can manage your contracts through this alone. After all, the following functions are missing here:
No automatic reminder functions for deadlines
- Contents are difficult to find again
- Costs, notes, tasks, and deadlines from a contract file cannot be viewed at a glance, but have to be extracted laboriously from individual documents
- Graphical reports cannot be displayed
It quickly becomes clear: an “Excel spreadsheet template “, SharePoint, or the folders on your server cannot offer the benefits of a fully comprehensive cloud-based contract management solution in the long run.
Inhubber elegantly covers these functions:
- Individual maintenance of notes, tasks, and deadlines.
- Automatic reminder of notices and deadlines
- Navigation between labels and contract files
- Filing of new documents
- The digital signature of all file formats
- End-to-end audit trail
- Holistic 360° view of all documents and master agreements
- Simple structure and search function to quickly find contacts and information
- Department- or user-specific access authorizations
- Ability to pull all documents as a CSV table
Conclusion:
Inhubber is thus the advanced solution of Excel spreadsheets and Microsoft when it comes to contract management alone.
