Check out this super easy tutorial from Trevor Beck for this here. It gets even better with Google Sheets, as you can send reminders directly to your email. There is a simple 4-minute tutorial on YouTube. You can download it right here.Īs an added bonus, on MS Excel, you can add reminders to important dates or key details. In fact, we have created a free template to help you manage your contract lifecycle end-to-end. Spreadsheets are super versatile, so it isn’t surprising that they can be used effectively to manage your contracts as well. General Purpose Contract Reminder Software #1 Spreadsheets You will have more time to do multiple reviews if needed and minimize chances of missed details or errors in the contract.Ĭontract reminder software can be broadly classified into two categories-general purpose and purpose-built. With notifications ahead of time, you will not be rushing reviews or working under tight timelines to prepare contracts.Simply by setting a reminder for renewals, you can allow yourself plenty of time to prepare for such negotiations Renewals are also the perfect opportunities for organizations to reset prices, negotiate services or upsell products.A contract reminder software will ensure you never miss a deadline For many types of contracts, such as purchase orders, SaaS contracts, etc., missing a deadline or a renewal date comes with a very heavy price tag.You get increased visibility into the task pipeline, making it easier to identify potential bottlenecks, such as an expected delay in approvals because the stakeholders are not available.Simply setting up a reminder three weeks ahead will help you prioritize which contracts to get started on that day, which ones should go for approval the next day, and so on Let’s say four contracts are due for renewal in two weeks, and three of them need approvals from external folks. Planning your daily tasks becomes much more manageable with the help of a contract reminder software. ![]() ![]() ![]() A survey by KPMG highlighted the “value leakage” emerging from deficient document governance, leading to contracts losing anywhere between 17%-40% of their original value.įortunately, a simple fix is using a contract reminder software that can track important dates, details, and deadlines and notify you when a contract is reaching its expiry.īesides saving time and structuring workflows, a good contract reminder software offers the following advantages: Organize work better These misses can result in huge losses for a business. With such huge volumes of information, it’s easy to miss out on important dates related to contract renewals and terminations. An average business has anywhere between 20,000 and 40,000 contracts.
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