When is a Contract Not a Contract? When it’s an Agreement of Course

by Greg 6. November 2011 13:02

Contract, Agreement or Lease?  One could argue different names but there are very similar principles in the management of each.

In the last six months I’ve worked with a number of customers ranging from international gaming developers, cable television providers, and state government departments to educational institutes.  There may be differences in their core business models and delivery, but the common denominator is that they all need to manage contracts, agreements or leases.

Spreadsheets seem to be a very common way of managing these types of documents, in a dare I say it, ineffectual kind of way.  Can a spreadsheet send out automated reports to notify business owners when contracts/agreements/leases are due for renewal in the next 30, 60 or 90 days?  No, but RecFind 6 can!

Can a spreadsheet notify the business owner if a value or field has changed?  No, but RecFind 6 can!

Can a spreadsheet store a fully searchable electronic copy of the executed document?  No, but RecFind 6 can!

With the addition of a few simple triggers RecFind 6 can perform these types of calculations:

  • Status based on a calculation of start date, expiry date and renewal date
  • Annual amount based on a calculation of dates and length of contract
  • Apply the appropriate security on contract profile and executed documents.

Configuring this standard functionality within RecFind 6 is quite simple and provides instant benefit that can only enhance the way you manage vital information.  It might be a bit presumptuous to say but I think once you’ve managed your contracts/agreements/leases in RecFind 6, you’ll be wondering why you hadn’t configured this functionality sooner!

Talk to us.

 

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