Contract Management Services – JurisIQ

JurisIQ Global

Simplify the Whole of Your Contract Lifecycle Process With Confidence

Contracts are the key element for all relationships in business, which helps determine responsibilities, risks, and compliance. However, when companies enter into large numbers of agreements with suppliers, customers, staff members, and other parties, contract management becomes inefficient through paper processing, missing deadlines, compliance gaps, and other risks.

JurisIQ’s Contract Management Services allow companies to optimize the whole contract lifecycle process from its development, review, execution, compliance management, and ongoing administration. Our contract experts and lawyers will collaborate with your team to ensure improved visibility, standardized workflows, better decision-making, and minimal risks.

From end-to-end contract management services and outsourcing contract management process to contract administration and other services, we offer versatile solutions to meet your requirements.

Definition of Contract Management

Contract Management is the procedure through which contracts are drafted, reviewed, negotiated, executed, archived, monitored, and renewed. Contract Management helps to ensure that the contracts are accurate, legal, and consistent with organizational objectives while minimizing legal, financial, and operational risks.

Contract Management Services offer more than just contract document archiving. The process helps organizations create procedures through which they can manage their contractual obligations, monitor contractual milestones, comply with requirements, and collaborate between various teams such as legal, procurement, accounting, sales, and business teams.

JurisIQ helps organizations to manage the entire contract management process from creation to execution, review, negotiation, and renewal using standardized processes and legal expertise. We help organizations with customer contracts, procurement contracts, vendor contracts, and commercial contracts.

Our Contract Lifecycle Management Process

Our systematic process makes sure that all contracts are well-managed from the time of their drafting until completion.

Contract Drafting: We provide help in the preparation and standardization of contract templates to increase efficiency and accuracy while adhering to organizational policies.
Contract Review: Our legal experts review the terms of the contract and identify possible areas of risk for the purpose of making recommendations for improvements that will safeguard your business interests and speed up decision-making.
Contract Negotiation Assistance: We provide assistance during contract negotiations through reviewing amendments and revisions, and helping stakeholders go through the process of gaining approval.
Contract Execution: We assist in executing contracts including coordinating the workflow, controlling versions of the documents and completing, approving, and documenting agreements.
Contract Repository and Administration: The executed contracts are then stored in a structured contract repository where they can be easily retrieved, tracked, and managed.
Contract Compliance and Obligation Tracking: We keep track of your contractual obligations, the dates of renewal, the service level agreement and other compliance obligations.
Contract Renewal and Ongoing Management: Our team keeps track of the expiry dates and renewals of the contracts.

Types of Contract We Can Help With

JurisIQ offers contract management assistance in various types of commercial and legal contracts, such as:

Vendor Contracts Procurement Contracts Master Service Agreement (MSA) Non-Disclosure Agreement (NDA) Service Level Agreement (SLA) Customer or Client Contracts Employee/Employment Contracts Licensing Agreements Software or SaaS Contracts Joint Ventures Consulting Contracts Supplier Contracts Commercial Contracts Change Orders/Amendments

Our versatile legal contract management solutions can be customized to meet the needs of any organization.

Benefits of Good Contract Management

Contract management is not only about compliance; contract management can improve operational efficiency and business performance. The Contract Management Services we provide include:

Simplified contract management from drafting through renewal
Improved visibility and accessibility of contracts
Less time spent on administration
Improved contract compliance
Decreased legal and commercial risk
Tracking of contract obligations and renewals
Improvement in collaboration between legal and business teams
Faster approvals and execution of contracts
Business decision-making supported by contract analysis
Legal operations improvement

Structured contract management will lead you to improved processes and increased contract value.

Technology and Compliance

Modern contract management involves much more than just archiving documents. It entails the need for secure workflows, centralized visibility, and processes driven by compliance that allow organizations to effectively manage contracts throughout their lifecycle.

At JurisIQ, we help our clients by integrating effective contract management processes into existing legal operation processes and business processes. We provide solutions to organize contract databases, automate approval procedures, ensure contract compliance, and facilitate obligation management in different organizational units.

If needed, we cooperate with the best CLM technologies to optimize contract visibility and workflow processes.

Industries That We Serve

Our Contract Management Services work with businesses of varying industries with varied contractual and regulatory needs.

Legal Departments: Administration of commercial contracts and reduction of contract risks while improving your business’ legal function through systematic contract administration.

Information Technology: Licensing for software, SaaS agreements, IP agreements, vendor relationships, etc.

Healthcare Industry: Contract administration for suppliers, services agreements, procurement, and regulatory requirements.

Financial Industry: Governance of customer agreements, vendor contracts, and regulatory documentation.

Manufacturing: Procurement contracts, supplier contracts, distribution contracts, and regulatory compliance.

Energy and Utility Industries: Infrastructure contracts, services agreements, vendor management, and documentation of compliance.

Telecommunication Industries: Commercial agreements, procurement contracts, and overall contract administration.

Professional Service Companies: Efficient management of client engagements, consulting agreements, and service level agreements.

Why choose JurisIQ?

1. Complete Contract Lifecycle Coverage: Every phase of the contract lifecycle from drafting and review to renewal and obligation tracking is covered by us through structured and efficient processes.

2. Law and Business Experts: Our experts who manage contracts have expertise in law as well as business to assist organizations in contract management.

3. Flexible Service Offering: Depending on whether you require assistance with the contract management process of just one business unit or an entire organization, our service offering can be scaled accordingly.

4. Enhanced Contract Compliance & Governance: Assistance with enhanced contract governance and management, obligation tracking and mitigation of risks associated with contract compliance.

5. Efficient Contract Management Process: Our structured processes will assist organizations in streamlining their contract management process and make it efficient.

6. Reliable Operational Assistance: Through a combination of skilled professionals and technology-based processes, we provide efficient and reliable contract management solutions.

FAQs

1. What are Contract Management Services?

Contract Management Services assist in managing contracts across its entire lifecycle, which includes drafting, review, execution, administration, compliance, renewal, and monitoring.

2. What is Contract Lifecycle Management (CLM)?

Contract Lifecycle Management (CLM) involves the systematic management of contracts from development and negotiation to execution, compliance, renewal, and expiration.

3. How does contract management minimize business risks?

Effective contract management allows organizations to track obligations, ensure compliance, minimize missed deadlines, spot risks associated with contracts, and governance of all contracts.

4. Can you provide assistance with contract review and administration?

Yes. Our contract services include contract review, contract administration, obligation management, contract renewal, repository management, and compliance with contracts.

5. Do you provide contract management outsourcing?

Yes. We provide outsourcing services for contract management to enable businesses to grow with legal and operations support without having more resources internally.

Contact Us – Revolutionize the process of managing contracts

If you want to improve contract management, ensure compliance, or gain better visibility on your entire contract portfolio, then our Contract Management Services will be your source of help in managing all agreements with ease.

Schedule a Consultation now to speak with our experts about your contract management needs.