Benefits of Integrating e-Signature in Contract Management
Can a simple feature such as e-Signature become so vital that
Read MoreWith a wide network of consultants (sub-contractors), Cansulta offers world-class consulting services to clients across industries, regions, and knowledge areas. Since their customers often need help to solve critical business issues, it is crucial for them to reduce delays and ensure that their customers get quick, easy access to the professional services needed.
When the business was first launched, most of the contracts were standard, and the number was limited. Therefore, it was possible–but not easy–to manage them manually. However, as they began to grow, contract management became a nightmare. They realized that they needed a more efficient way to manage their contracts to scale the business efficiently and to achieve growth targets.
Being a startup, they did not have a contract management process in place. They were putting all their contracts – both buy-side as well as sell-side – in a shared drive. They would just sign contracts, and then they would be saved on the server.
Before Revnue, Cansulta used Google Sheets to track their contracts. As their network grew and more consultants were onboarded, managing this spreadsheet became difficult and time-consuming. Data was accidentally overwritten or lost with multiple users making updates. With time, the contract components became more complicated. Instead of a standard contract for all contractors, they began to have multiple versions with variations in the terms for some. Soon, it became impossible to track everything manually. They had very little visibility into which contractor had signed which version, what terms were agreed upon, and when they signed the contract. As they grew, they expected the complications to multiply further.
Revnue provided a central repository to store and track all of Cansulta’s contracts individually. Every detail and variation in term was captured. Tracking became effortless and accurate. With Revnue, it has become easy for Cansulta to grow its network without missing out on any critical detail, big or small.
Smart Repository provided a central place to store and manage contracts, simplifying the contract management process for small businesses that don’t have the skills or resources for formal contract management.
Alexandra Kapelos-Peters, Founder, Cansulta.com
Being a small company, Cansulta had to multitask and do everything themselves. They didn’t have a formal team or people who were responsible for contract management responsibilities. As a result, contract management was often ignored and impacted their business adversely.
Revnue helped Cansulta get organized without requiring additional resources. The initial setup took just a few days, and after that, most processes were automated. Now, they can track their contracts effortlessly. The entire process is transparent, and anybody can pull the required information without dependency on anyone else. It also helps their team save on time spent on manual, mundane tasks.
System-generated alerts and notifications help the Sales teams get proactive. They can start discussions with customers well in advance and begin renewals much faster.
On the buy-side, Cansulta was purchasing many software and SaaS services. However, there was no structured way to easily view or extract that information. Getting answers to simple questions like: “how many video-editing tools do we have, how many licenses did we buy, when are the renewals due, how much do we pay for them” would take a lot of time and effort. As a result, important information often went unnoticed. Trial and refund deadlines were missed, and money was wasted on products and licenses that were unused and unnecessary. Even on the sell side, they would issue proposals, send them to customers, and lose time waiting for signatures and manually tracking their status.
With Revnue, Consulta can get almost any information they need with the click of a button. This not only reduces the workload, it alsobrings many additional opportunities to save money and to generate more revenue.
Revnue’s advanced search capabilities provide accurate information to the minutest level of detail, all in just a few seconds.
Alexandra Kapelos-Peters, Founder, Cansulta.com
Cansulta chose Revnue because it helped them:
Get tips and know the latest trends in contract management
Can a simple feature such as e-Signature become so vital that
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Read MoreCan a simple feature such as e-Signature become so vital that
Read MoreHave you ever thought about why eSignatures are replacing wet signatures?
Read MoreBusinesses have switched from printed copies of documents to digitalized options,
Read MoreToday, only 20% of businesses say automating tasks such as invoicing
Read More© 2023 Revnue Corp.
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