Mastering Contract Renewals

Maximize business relationships

Contract renewal is the stage in the contract lifecycle when an agreement comes to an end and parties may decide to continue or terminate the business relationship. It presents organizations with an opportunity to reflect on the changes in their goals and values in terms of the contractual agreement. With contract management software, businesses get a cooling-off period to decide the fate of the contract and continue only if it proves profitable.

Track the contract lifecycle

Contract renewal has a significant impact on any business, which is why automated processes are the way forward. The contract management system provides unlimited visibility into the contract lifecycle, making renewal easy.

• Safely store all contracts in one single, organized repository. 
• It establishes proper workflows for requesting, approving, and renewing contracts at the right time.
• All relevant stakeholders are assigned to renewal workflows to avoid contradictions. 

Stay Ahead of deadlines

Notifications can save you from committing all kinds of errors that can occur in contract management. Missing a renewal date or not knowing expiry dates can mean revenue loss and legal repercussions. Dock 365’s contract renewal management software ensures that the right people will get notified at regular intervals regarding expiry dates and renewals.