Blog
Deployed Market

Contract Management Platforms

Aug 5, 2024
3
min read

Deployed is a decision and document intake platform – built for services procurement and external talent for projects that start smarter and finish stronger.

Deployed enhances Contract Management platforms by automatically posting contract obligations and legal requirements from a Statement of Work into the relevant fields in the CMS, with no need to re-type into those systems.

As an intake and digital drafting platform, our universal connector integrates into all of your existing management platforms. Our proprietary presignature® technology replaces Word and uploading to make contract management platforms 10x better for reporting and management. Forget clunky Word document templates and re-keying data into your systems. Deployed is the leading platform that offers a user-friendly and visually appealing approach to requests and drafting that requires no training and gets fast adoption.

Deployed’s unique features:

·      Incredible consumer grade interface for easy writing

·      AI used for better writing for clear project documentation

·      Searchable scope libraries written by leading experts

·      Fulfilment channel libraries for the right supply choices

·      Benchmark data from $250B+ services spend

·      Fully integrates into and enhances all management platforms

Deployed’s Digital Intake and Drafting enhances Contract Management platforms.

Contract Management platforms manage contracts and the obligations contained within. Deployed replaces Word drafting and uploading for Statements of Work, by integrating directly into Contract Management platforms for management of the legal obligations within the contract document.

Current way of working Upload a Word document or type directly into templates
Integration with Deployed SoW written in Deployed and integrated to Contract Management for Obligations Management
Competition Word, Contract Management Platforms
Economic Buyers Legal teams, Procurement
Market Size The Contract Management market is projected to grow from USD 1.3 Billion in 2024 to USD 3.6 Billion by 2032

Where does contract management sit in your tech stack?

Contract Management is a downstream platform with most features post signature. Deployed’s presignature® features therefore fit perfectly into your tech stack.

What is a Contract Management platform?

Contract Management platforms are software solutions designed to streamline and automate the management of contracts throughout their lifecycle. They provide a range of functionalities that enhance the efficiency, accuracy, and security of contract management processes.

 

Contract Management Main Features:

1. Contract Creation and Authoring:

• Provide templates and standardised clauses to facilitate the creation of contracts.

• Enable collaborative drafting with real-time editing and version control.

2. Negotiation and Approval:

• Track changes and comments during negotiations.

• Route contracts for approval using automated workflows.

• Integrate with e-signature solutions for faster signing processes.

 

3. Centralised Repository:

• Store all contracts in a centralised, searchable database.

• Enable easy access and retrieval of contract documents and related data.

 

4. Tracking and Monitoring:

• Set up alerts and notifications for key dates, such as renewals and expirations

• Track performance and compliance with contract terms.

 

5. Analytics and Reporting:

• Generate reports on contract metrics, such as cycle times, value, and risk.

• Provide insights to optimise contract performance and decision-making.

 

6. Risk Management:

• Identify and mitigate potential risks through contract review and analysis tools

• Ensure compliance with regulatory requirements and internal policies.

 

Contract Management Value Proposition:

1. Efficiency and Time Savings:

  • Automate repetitive tasks and reduce manual effort.

  • Accelerate contract creation, approval, and execution processes.

 

2. Improved Compliance and Risk Management:

  • Ensure adherence to regulatory and policy requirements.

  • Reduce the risk of non-compliance and associated penalties.

 

3. Enhanced Collaboration and Communication:

  • Facilitate better communication between stakeholders involved in the contract lifecycle.

  • Improve transparency and accountability.

 

4. Cost Savings:

  • Reduce legal and administrative costs associated with contract management.

  • Avoid penalties and missed opportunities due to better contract oversight.

 

5. Data-Driven Insights:

  • Leverage analytics to gain insights into contract performance and trends.

  • Make informed decisions to drive better business outcomes.

 

6. Centralisation and Accessibility:

  • Maintain a single source of truth for all contracts.

  • Ensure easy access and retrieval of contract information.

Example Leading Companies:

1. DocuSign (CLM)

2. Icertis

3. Conga

4. Agiloft

5. ContractWorks

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Work begins before it starts®

Contact the team at Deployed to get more information about learning, automation, or platform demos.

Work begins before it starts®

Contact the team at Deployed to get more information about learning, automation, or platform demos.

Work begins before
it starts®

Contact the team at Deployed to get more information about learning, automation or pilots.