ContractRoom Software

1) With the introduction of ContractRoom, now the contract lifecycle management gets easier.
2) Negotiations can be done over the system, so there is less manual work..
3) Everything is documented in the tool.
4) Easy to use as this has a cloud based technology.

Pros

ContractRoom is a cloud-based negotiation and contract lifecycle management system that changes the way deals get done and how decisions are made.

Cons

1) It should have more inbuilt frameworks which could help the to save the manual work.
2) There should have been more editing functions.

Contract data base

Pros

we can upload all the documents that we have in our data base and easy work in the best template to my needs

Cons

When we try to do some changes are not amiable , its complicated edit them , as well the suppliers cant see the redlines.

none

Pros

well to be honest the only pro I can se is that you can use it in any computer, but other thant that I do not see any

Cons

slow, difficult for the user, the supplier does not like it, so hard to edit, the ocntract I need is never there, is a total waist of time

Pros

ContractRoom CLMS has a wide scope due to its features, good user interface and easy implementation. It has a unique function wherein the written and oral negotiation and redlining are captured within the one place and the system will make it easy for the context of a comment or redline to be understood. Once negotiation for a contract is complete the CLM system guides the approval process and automatically prompt those with the required authorities to provide their approval - making this process as seamless as possible - and it will be accessible on a mobile device as well.

Cons

Nogotiations can be done in the document and one can mention comment as well. This is one of the best features.

This tool serves all my contract related needs and helps me tackle my clients realtime.
It is time saving, user friendly and keeps a track of my complete audit trail

Pros

user friendly and takes care of all contract related needs.

Cons

yet to find one

Contract Room is a very user friendly tool and requires minimal time investment in learning the tool. Negotiating the agreement with internal and external stakeholders real time is one of the functionalities which is a USP of this tool.
In addition the robust reporting with no room of data discrepancy as the information is directly retrieved from the agreement tags.

Pros

a) Online Drafting & Negotiation
b) Robust Reporting
c) Swift Deployment

Cons

a) System performance is hampered at times and multiple log in and log out attempts

Advice to Others

a) Efforts required to fix the performance issue

I had a very good experience with the ContractRoom Application, it is easy to use and user friendly. looking at the videos on you tube I could easily use it. Also, I must say that the feature of drafting and collaborating with the team is very good

Pros

The drafting feature is very good and easy to use, further the collaboration feature is awesome.

Cons

no issue with software, just once found that the contract was no loading on time

Advice to Others

10

under my experience, this is not good enough, you dont have anough room to noegotiate the contract, specially the construction ones, because you need so many different things there, is not easy to edit, is not faster as should be. this tool makes my work harder

Pros

really, nothing, I haven't see any pros on this

Cons

hard to edit, hard to identify the issues, I never have the correct template, the supplier gets confuse every time, is a waste of time

Advice to Others

word is faster, easier, and simple

It has been a great experience overall as it is helpful where we can draft, negotiate, approve and get it signed using this system. Everything gets recorded and we can check real time history. It works on cloud so very easy to operate and take less time to connect. It has many features like adding team members, downloading document, etc. Overall it is a great tool.

Pros

It has Drafting and Negotiation function in the system itself, so it will be paperless environment if we use this system.

Cons

There should have been more editing function like MS word. Otherwise it is good.

Advice to Others

No, I think developers are doing a good job and regular updates are there.

A multi party collaborate process which provides a very efficient and effective platform to negotiate, close and manage all aspects of a negotiation.

It is very user friendly and eliminates messy paperwork and archaic processes.

The greatest benefit is the time reduction from the initial email to closure

Easy to use, comprehensive, thorough and secure.

I often collaborate with other attorneys and multiple clients. ContractRoom makes it easy to obtain input from multiple parties at the same time without having to send multiple emails back and forth. The automated process saves time as well.

In my company Blackknight trading, we desired a system where our upstream data group be able to construct streamlined transmission with our downstream sourcing division. Contract room provides the collaborative mechanism for these two groups. The hurdles that we faced prior to usage of Contract room were caused by the traditional data management problems that caused basic channel clogs. Contract room has eliminated the clogs in our system, thus decreasing the delivery time of data and converts the data transfer to a commitment from our downstream sourcing. Our ROI is increased by better delivery speeds because our upstream team is able to draft agreements easily and the sourcing teaming can work more efficiently and drive our overall profitability goals.

ContractRoom has dramatically improved the way we build agreement and track contracts.

Contract Room is an exceptionally strong document management, e-signature, and corporate negotiation product with all core functions rolled into one. Add on top of this a role based user interface and you have a solid and affordable solution that can easily reduce the time and expense in streamlining your contract management and negotiation process. While there are still opportunities for better integration with ERP and CRM systems, the underlying database architecture of Contract Room makes this not a matter of if but when. This architecture also makes the software incredibly flexible and customizable, letting the user create custom tags to manage different types of documents in the most effective way. Overall this is a great product with a ton of potential which will only get better as time goes on. The reasonable cost for the high functionality make this one of the better corporate software buys out there, which will only continue to get better as functions continue to be added and developed.