Business Integrity's ContractExpress for SharePoint Creates Business Contracts Quickly

Business Integrity, a provider of contract lifecycle management (CLM) tools, announced the launch of ‘ContractExpress for SharePoint’, which is a Web based software solution that facilitates users to create, collaborate, approve, manage, and report business contracts, very quickly.

ContractExpress is a family of software applications that includes ContractExpress for SharePoint, ContractExpress NDA for SharePoint and ContractExpress DealBuilder. The new offering, ContractExpress for SharePoint, provides full contract lifecycle management features -- from business contract creation and execution to end of life archiving.

Based on Microsoft (News - Alert) SharePoint 2007, Business Integrity’s ContractExpress for SharePoint is incorporated with workspaces and workflows, which automates the creation and management of a business contract, throughout its lifecycle. The processes of CLM such as initiation, approval, execution, performance management and archiving can be customized according to the requirement of business processes, says company. 

According to Business Integrity, its ContractExpress for SharePoint is ideal for -- large corporations that want to streamline its business processes involving the execution of business contracts; and for lawyers or contract managers who intend to generate compliant legal agreements in minutes rather than days or weeks. In addition, self-service contract creation feature is also available on this software application that simplifies cumbersome processes of contract creation, thereby accelerating both business processes and revenue recognition.

Richard Newton, vice president of Europe at Business Integrity, said, "Contracts have historically been ignored by business information systems Business users have not been trusted to draft contracts and the task has been left to the lawyers or contract managers, which can delay the business cycle by days or weeks. Once executed, contract documentation is rarely stored, managed, and reported in a structured manner leaving the business exposed to unmanaged commercial risk. ContractExpress for SharePoint helps solve all of those problems."

 Delivered either on-premise or as a hosted solution, the ContractExpress for Sharepoint software application displays which contract types are available to create and those that have to be worked on. It involves web questionnaire that captures the key business information and commercial choices. The software provides users with ready to execute PDF form of contract once it is generated. The contracts can be routed via a workflow for legal review and approval as well. In addition, integration with email is also provided that ensures other parties in the workflows are notified of request for review or approval in real time, said the company.  

 Ian Leedham, senior counsel, commercial at National Grid, said, "ContractExpress for SharePoint is a platform that allows us to safely devolve the creation of volume and standard contracts to business users and some of our external counsel within a controlled environment, rather than have Legal draft everything purely to ensure consistency and governance, which is now controlled by the software. The added workflow element also gives end user involvement and allows everyone to see the status of a particular transaction and quickly identify and segregate anything out of the ordinary for our attention. This frees up the legal team's time to focus on those transactions that really need their expertise, whilst providing a more transparent and improved service to the business".