Novatus Contract Lifecycle Management (CLM) software provides a comprehensive solution designed to help businesses generate, track, maintain, and report on important business contracts. Contracts are an essential core of any business as well as a tangible asset, and thus have a direct impact on profitability. Novatus provides a secure way take contracts through the entire lifecycle with ease and structure.
The Novatus solution automates the entire CLM process from creation to negotiation, approval to renewal. It contains a host of features that boost organization and increase control over past, current and future contracts, including detailed and automated alert reminders, configurable templates, approval processes, and a customizable dashboard for any user. The online redlining feature helps parties track and discuss changes that are made during the negotiation process.
This system is available as both web-based and on-premise, and implementation can be done within a few days, as opposed to months or years. Configurability is completely browser-based, and all upgrades and enhancements to the system are included. User support is available 24/7, and ongoing training increases the system's overall efficiency and effectiveness. Novatus' user interface was designed to be friendly and intuitive, and the system offers startup services that were designed to decrease downtime as your team adjusts to the new system.
As pioneers in CLM, Novatus offers elite integration with companies such as SalesForce (CRM), Seal Software (e-discovery) and Coupa (e-sourcing). In addition, Novatus is the only CLM solutions provider that is fully integrated with DocuSign for e-signatures.
Angela from Columbia County Procurement Department
Specialty: Government Agency
Employees number: 21 to 50 employees
Being able to do a side by side comparison of dozens of software programs to prequalify the only ones that would fit our needs.
There wasn't much about this that I had a problem with.
Try reading the page on tips for evaluating software before starting to demo them.
Mark from HD Supply, Inc
Date: June 2013
We needed a friendly, easy to install, and maintain Vendor Management tool. It had to be a time saver, adaptable, repeatable, and workflow driven product in order to accomodate the on-boarding process for both of our IT and Indirect business models.
With Novatus, all of the requirements were met. Actually, we were able to take advantage of and introduce more of the products functional capabilities during the install than we had initially anticipated.
Using the tool now for the past 4-5 years, we have come to realize that without it, we would still be paying potential late fee penalties for late renewals; we would still have some compliancey issues with some of our vendors; we would still be bringing in vendors whose contracts contained very risky language, and so on.
The use of the Novatus has basically provided or avoided cost to us that fall way into the six figure range. In terms of Support, its second to none. If a problem arises, its typically resolved in less than 15 minutes and at this point I can only remember 1 instance where that occured over the years.
At this point Novatus is not just a vendor, they are a true partner and will be here for a long time.