Why Gimmal Contract Management?
All businesses are built on contracts. Yet the contract process is typically full of inefficiencies that cause friction between departments, like legal and sales. It can be confusing and prone to errors and miscommunication. As companies face increasing auditor scrutiny, it is also now more important than ever to ensure compliance with contract terms and to prevent against conflicting clauses across contracts. Simply put, insufficient contracting processes can leave an organization vulnerable to significant risk.
Gimmal Contract Management can shape your business’s contracting process to maximize value and efficiency while taking steps to eliminate various sources of risk. Gimmal Contract Management provides a standardized collaboration platform and introduces much-needed controls around every phase of the contract lifecycle on both the buy and sell sides of the contracting process.
- Greater efficiency at every stage of the contract lifecycle. Stay on top of autorenewals and take advantage of incentives offered in terms by automating terms execution and standardizing your clause library. Give sales the freedom to draft standard contracts… and give legal freedom from daily support requests.
- Centralized storage and tracking for greater visibility and better terms compliance. By centralizing contract storage, standardizing contract clauses, and offering advanced reporting capabilities, Gimmal Contract Management makes the entire contract lifecycle transparent, collaborative, and clear.
- Improved collaboration capabilities and robust access controls. Assign granular access rights by user or user group to ensure your contracts and associated data are secure while improving collaboration with centralized review process.
- Cloud-based or on-premises deployments. Gimmal partners with the most secure hosting providers to reduce your cost and burden on your IT organization.
introduce greater control while streamlining contract creation
automate contract creation and enable non-legal staff to draft contracts using templates and standard clauses
store your entire contract relationship hierarchy in a repository that supports over 300 file types (including pdf, xls, doc)
Standard out of the box reports along with flexible, easy-to-create custom reports that provide comprehensive visibility into the full contract lifecycle. Advanced reporting capabilities are also available with an optional integration with Crystal Reports
provides unified management and central visibility of all contracts along with full-text search and contract property search capabilities
leverage OCR technology to facilitate the import of existing contracts or contracts on a counterparty’s paper and make them fully searchable (Cloud Solution only)
provide notifications of key events and actions. These can be manually created or configured to execute automatically based on trigger dates and/or task completion
audit all changes and actions against contracts and related documents supports Sarbanes-Oxley and other compliance mandates
enable documents and action items can be routed directly to the appropriate users or roles
supports check-in and check-out, versioning, auto-filing, auto-numbering and auto-naming, taking the confusion out of redlining and enhances collaboration
enable granular assignment of user access by contract and document type
An optional integration with DocuSign allows for agreements to be sent to counter-parties to be signed electronically
A fully-configurable contract import mechanism allows for legacy contracts to be imported into the system along with the contract properties