Transaction management is challenging without a proper DMS (document management system). It may involve dozens or even hundreds of contract versions, contract-related, transaction-related or party-related files. It easily becomes a mess. Organising transaction files manually, is not only time-consuming, but also challenging when colleagues are involved. Finding back your files is often even more time-consuming without a DMS.
Watch the video to see how Weagree’s DMS accelerates your transaction management-work.
Each step of transaction management is small, negligibly simple. But through the workday, time adds up significantly. Moreover, what if you lose a contract or transaction-related file? This can happen easily without a well-structured document management solution.
Weagree’s DMS is not merely embedded in contract automation and CLM, our DMS solves the 11 annoyances related to transaction management:
See how it works in our short video:
No surprise that Weagree solves all these annoyances, as much as possible automated. Various other classic DMS features are on our roadmap (e.g. to store-and-manage transaction-related e-mails alongside your contracts on SharePoint).
We understand how contract negotiations work and what the dynamics of transactions can be. Weagree DMS is designed by lawyers for lawyers. It is an integrated document management solution: your permanent workplace for organising and overseeing all pending contracts and related documents.
Weagree DMS accelerates the pre-contractual stage of negotiations. It automates countless manual user actions related to transaction management and managing all related files. And of course, it is fully integrated component of Weagree’s end-to-end contracting, as document management relates to at all stages of a contract lifecycle:
Several functionalities and user-friendly features within our DMS make your life easier and accelerate the development and maintenance of your contract know-how.
Our DMS retains the version history of the contract, documenting all changes, approvals and feedback throughout its lifecycle.
Weagree’s DMS uses metadata to manage and maintain your contract repository, including document type, date, version number and an explanatory personal note. Although Weagree retrieves such data automatically, any manual input is triggered intuitively as part of the file handling steps.
Furthermore, as negotiations proceed, you can archive contract-related files to keep the transaction management easy and manageable (as shown in the video).
The DMS facilitates providing guest users access. Yet, guest users do not necessarily have access to all files of the transaction, as the internal stakeholders can manage the visibility of files in a transaction's repository (authorisation-based file-access rights).
Collaborative contracting also applies to Weagree DMS: take care of your colleagues' transactions, for example, during times when a colleague is unavailable due to illness. The DMS enables legal leadership to take care of team members' workload: effortlessly access and manage their busyness - intuitively.
Users can forward emails with attachments, be it contracts or negotiation versions, directly to the Weagree portal for convenient management and storage alongside other transaction-related files.
The forwarded email is in the user’s in-app Inbox from where it can be picked up either for creating a new contract entry or just to store it alongside an existing transaction (precontractual, or post-signing in the CLM).
Of course, you can equally easy manage contracts, contract-related files, schedules and contract versions not originating from Weagree’s contract automation (non-automated templates or third-party drafted contracts) for management in Weagree CLM.
So, not only create your contracts but also collect the documents and files related to that contract. This simplifies the organisation of your pending transactions.
As Weagree DMS is fully integrated with contract automation and CLM, you can already enter, modify and manage your (future) obligations, rights and other contract metadata during the precontractual stage. This reduces the burdens associated with CLM-registration.
As you can start managing or modifying contract metadata while negotiations are still pending, you can already forecast or monitor all such metadata from the moment a contract is created in Weagree.
Moreover, Weagree’s advanced contract-reporting capabilities enable end-users and management to create one-click reports or insights.
The perks of an integrated document management functionality (a DMS) are undisputable.
DMS benefits quickly translate to time and cost savings for your entire legal department. An effective DMS requires little to no change management effort.