Companies in the usual course of business execute a large number of contracts. When time moves, and as the number increases, Companies find in their database large number of contracts which is not accounted for.
An un-organised database would bring with it its own problems and issues, including issues, which crop up as a result of not knowing the exact contractual obligations. On the other hand, knowing the contract completely would give you an upper hand when dealing with your vendors, suppliers and customers.
We summarize existing contracts and highlight important terms and conditions for action/information of our Client. This exercise also involves highlighting the unfavorable terms contained in the contract. Contract database creation exercise is also taken as part of contract summarization activity.
We create contract database either on a separate server or on Client's internal SharePoint as required. This helps the client to easily search and find existing contracts.