Every organization thrives on productive relationships with its customers, suppliers, and partners, and formal agreements are key to ensuring positive outcomes. Today, as simple agreements have evolved into complex contracts, the fact remains that effective contract management is fundamental to a healthy business relationship.
That, in short, is the premise of OpenText™ Contract Center: to ensure that every contract, no matter how multifaceted or intricate, is clear, compliant, consistent and accurate. No matter how many stakeholders touch a contract throughout its lifecycle – requester, contract author, account manager, legal counsel – Contract Center ensures adherence to the organization’s standards, regulatory guidance and approved language.
Common pitfalls, such as errors made in haste or conflicting versions, are virtually eliminated. Connected, intelligent workflow automation standardizes and streamlines processes, minimizing tedious manual tasks and boosting operational efficiency. Contract authors can easily assemble complex documents with templates, pull in existing amendments as needed during the contract creation and execution process and manage the contract as it evolves over time.
Now, OpenText continues to make progress in improving an already robust solution, responding to customer feedback with enhancements to meet their needs and expectations.
What’s New with Release 19.2
- With the advent of OpenText Contract Center Release 19.2, the signature ceremony is brought directly into the application. For users, that means they can initiate e-signatures from within a contract record. One or more documents can be sent to all responsible internal and external parties for e-signature and, using the seamless integration with DocuSign, the signed documents can be directly returned to the contract records.
Integration with Salesforce:
- Contract Center is now integrated directly with Salesforce. Customer, partner and supplier information maintained and managed in Salesforce is available natively in Contract Center as dropdown menus or pick lists.
- Users can now modify a generated contract document during draft, negotiation and pre-execution stages from within Contract Center, with no dependency on external word processing tools. This in-app, rich text editing capability is seamlessly integrated with approval flows and versioning. Users have the flexibility to remove or update clauses inherited into a contract from a template or add new clauses from the clause library.
Clause and template versioning:
- Users can now update an active clause or create a new version without disrupting existing contracts. With the simple click of a button, users can quickly create an amendment for any active contract and see the associated amendments. Users can also quickly access the latest updated versions of clauses when creating new templates and contracts.
Enhanced home-page experience for the contract author persona:
- Contract authors can view their important, frequent and recent jobs in one place with valuable insights presented as a snapshot.
Rich text–enabled authoring:
- All authoring interfaces such as clause creation and contract editing are now enhanced with rich text editing capabilities for a more user-friendly experience.
Integration with Key Solutions:
- OpenText Contract Center is a complete, out-of-the box solution for efficiently managing contracts throughout their lifecycle. Interoperability with other OpenText products extends its functionality for automated document capture, analytics, enterprise content management and records management, enabling you to extend the value of your investment in OpenText solutions.
To learn more about OpenText Contract Center Release 19.2 visit our website.