What is Digital Contracting?

With digital contracting, you replace traditional, manual, slow and frustrating contracting processes with automated digital processes.

 

The aim of digital contracting is to gain efficiencies. However, the true value of digital contracting lies in data that is unlocked in the process.

 

When digital contracting is done right, you are able to make use of real-time data,  identify where bottlenecks are occurring and see trends to make more informed business decisions.

Create Sign Manage your contracts digitally

Traditional contract creation

Digital contract creation

Contracts are created using ms word, PDF forms, excel or google docs.

Contracts are created using an advanced contract creation framework.

Contract information is copied and pasted into templates and supporting documents to create the transaction documents.

Contract information is automatically pulled from different data sources into all transaction documents.

Data within the signed contract is unstructured and must be manually captured before this data can be used and exported to other systems.

Data within the signed contract is already structured and can immediately be used and exported to other systems.

Traditional contract signature

Digital contract signature

Contracts are printed out, signed, scanned and sent to the next party that needs to sign.

Contracts are quickly signed and can even be signed on your mobile phone.

Contracts often end up in the signer’s junk box due to the attachments.

There are no attachments, and the signers are directed to a secure signing platform through email or SMS.

Wet ink signatures are often forged.

There are various authentication mechanisms and security checks to reduce fraud with digital signatures.

Traditional contract management

Digital contract management

Signed contracts are stored somewhere on a shared drive, or most of the time, the signed contracts are still residing on peoples email.

Signed contracts are automatically stored in the central contract repository with built-in ai search capabilities to help you easily and quickly find the contracts.

Key dates and important information is manually captured and imported into the contract management system (if there is even something like that).

Important information is automatically pulled from the contract, and reminders are automatically scheduled to ensure that you do not miss key dates.

Frequently asked questions

Yes, our solutions can be white labeled. 

We do build custom workflows between the creation, signature and management processes. 

We prefer the AWS cloud infrastructure as it has time and time again been shown as the most secure, extensive, and reliable cloud platform.

In part, businesses have learned to live with the “necessary evils” of a terrible contracting process because they don’t realise a better solution exists.

 

Also, digitising your contracting processes has traditionally been a very expensive, complicated and time-consuming process.

Need more information on digital contracting?

This is a free 30min consultation to better understand your business and your needs.