Scaling and streamlining the digital contracting process is essential for any organization (in any industry) that deals with hundreds or thousands of contracts on a regular basis. Whether due to external reasons (e.g., change in the legal/regulatory environment) or internal reasons (e.g., mergers and acquisitions, reorganization, etc.), a mass contracting or high-volume re-contracting project can be challenging for all stakeholders - especially if time is of the essence.
High-Volume Contracting & Digital Contract Management is a training course hosted by InvestCEE LegalTech Consultancy and provides corporate legal & business teams practical guidance to managing large scale contracting projects in limited time frames. Scroll for a detailed agenda of the training.
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High-Volume Contracting & Digital Contract Management
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What type of automation techniques will help with high-volume contracting projects?
There are various approaches to automating specific parts of the contract life cycle - for example, dynamic legal drafting (document automation) is very relevant in the pre-signing stage. However, when it comes to end-to-end management of large scale digital contracts, supervised automation is helpful throughout the process: from template generation to negotiation and execution monitoring with the recipients, and digital archiving integrated with existing IT infrastructure.
Agenda for the Course
Legal and business teams generally spend a lot of time and effort creating contract drafts. Internal approval and execution by authorized signatories come next, while negotiation and/or execution by hundreds or thousands of counterparties (employees, contractors, business partners, etc.) can further delay the process timeline.
To help organizations shift to a more efficient high-volume digital contracting process, the course provides strategic guidance and execution best practice tips for the following:
- Contract types and minimum volumes worth automating
- Batch-sending of pre-approved templates
- Automating contract data input (e.g., recipient data)
- Monitoring and reporting of contract status
- Digital archiving and integration with existing IT infrastructure
With the practical information gained at the training course, legal and business leaders get support for optimizing high-volume contracting processes – by improving internal collaboration, implementing efficiencies, and taking better control of contract-related risks.
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