Contract management can be a paper-heavy and time-intensive process due to various factors such as contract length, multiple revisions to track, and multi-step approvals. Laserfiche ensures contracts are stored in a central and accessible repository to easily track and reference at any time until the contract expires or renews. Keeping contracts in a secure digital repository simplifies compliance with records management regulations and protects the personally identifiable information involved with each contract. Laserfiche has helped many organizations to curb costs, improve productivity, reduce delays, and costly errors in contract negotiation and approval.
- Streamline contract life-cycle management with automatic enforcement of consistent, organization-wide records policies.
- Spend less time looking through file cabinets, records will automatically follow the appropriate retention schedule and notify you when ready for cutoff or destruction.
- Automatically name, retain, transfer, and archive records to ensure compliance.
Review
Laserfiche allows users to save different revisions of a document into the same place in the repository using version tracking. This provides one source of truth and ensures there are no questions about which is the appropriate document to refer to or use. Scan, upload, drag and drop, or submit contracts into Laserfiche to be assigned to staff for simultaneous review.
- Name and comment on document versions to indicate any changes and revert to any previous versions as needed.
Versioning is supported on all document types, allowing users to label and place comments on each version.- Easily view and compare the differences between two Office documents using the track changes function in Laserfiche.
- Attach amendments such as documents and images to existing contracts stored in the Repository.
Approval
As a Laserfiche forms process, all active and completed task instances would be easily reviewed using the built-in reporting features. Laserfiche users have access to a task dashboard that displays any pending tasks, along with due date and priority. Automating contract review and approval with Laserfiche has proven to decrease weeks of processing time per contract.
- Use digital signatures to approve contracts from
- Contracts that require multiple signatures, various people can sign asynchronously.
- All tasks include a full action history.
- Reroute tasks around absent or busy team members.
- Ensure staff stay on top of tasks with automatic notifications and reminders.
Reporting
Laserfiche allows users to save different revisions of a document into the same place in the repository using version tracking. This provides one source of truth and ensures there are no questions about which is the appropriate document to refer to or use. Scan, upload, drag and drop, or submit contracts into Laserfiche to be assigned to staff for simultaneous review.
- Name and comment on document versions to indicate any changes and revert to any previous versions as needed.
- Versioning is supported on all document types, allowing users to label and place comments on each version.
- Easily view and compare the differences between two Office documents using the track changes function in Laserfiche.
- Attach amendments such as documents and images to existing contracts stored in the Repository.
Frequently Asked Questions (FAQs)
How will contracts be stored?
Contracts are stored in a secure, central repository. Contracts can be stored by import, drag and drop or forms submission. Our customizable solutions are made to fit your needs and preferences for your specific organization, with our guide in ensuring best business practices are incorporated. Data can be stored in a secure offsite Cloud or in a selfhosted environment based on your preferences.
How long will the contracts be kept?
With Laserfiche records management capabilities the necessary or desired retention policy can be set for any document. Once the retention policy is up, the records manager or specific staff will be notified to review and perform record actions such as cutoff or final disposition. No documents will automatically be discarded within the system.
How are the documents backed-up?
For Laserfiche Cloud, automatic backups on AWS are automatic every 15 minutes. For Laserfiche On-premises, like most self-hosted Enterprise Contract Management systems, Laserfiche should be included in your organization’s IT backup. As your Solution Provider, we’ll provide best practice recommendations for which Laserfiche components need to be backed up.
Who has access to the data stored in Laserfiche?
Laserfiche security is fully customizable and can be set at the user, role, team, department, document, folder, or tag level. Individual features, such as the ability to print or download documents can be restricted based on user role or even location in the repository. Users will never have access to information or features that are inappropriate for their role.
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About Accelerated Information Systems
Accelerated Information Systems (AIS) is an award-winning professional services firm focused on solving business challenges with software solutions. AIS provides expert guidance, utilizing industry expertise and a strong technical skill set to design, implement, and support enterprise solutions.
AIS provides a full suite of professional services including consulting, solution design, implementation, technical support, data conversion, system integration, training, and project management.
Clients of AIS include State and Local Government, Colleges and Universities, Financial Services (Wealth Management, Investment Advisors, Broker-Dealers), Manufacturers, Not-for-Profit Organizations, TV and Media, and Multi-National Non-Governmental Organizations.
Founded in 2005, AIS is headquartered in New York and is also certified in multiple other states as a Minority Business Enterprise (MBE) and a Disadvantaged Business Enterprise (DBE). In addition to their status as a Platinum Certified Laserfiche Solution Provider and the 2019 Laserfiche Cloud Solution Provider of the Year, AIS is a Microsoft Cloud Silver Certified Partner.