Iron Mountain workflow automation for contracts management

Business challenge

You’re responsible for evaluating and managing contracts and working with other functions within your organisation to ensure that the contracts meet their needs. You’re pressured for quick turnarounds but your speed is slowed by a plethora of redundant administrative tasks and the burden of managing a mix of paper and electronic information housed in a variety of places. You don’t have visibility to where contracts are located, the terms that are typically in place or the number and cycle times of active contracts. There are tools available that could automate the process, increase efficiency and reduce time you spend on administrative tasks, yet capital and IT investments for a contracts system are challenging in the current business environment.

How this affects you

• Sensitive documents may be lost or viewed by unauthorised people
• Your time is relegated to redundant, time consuming tasks and your customer service suffers.
• Your organisation is exposed to risk, unevaluated contract renewals, reuse of outdated language, unfavorable terms and revenue leaks.

What if you could

• Remove redundant, time consuming tasks, reduce errors and speed your turnaround?
• Gain centralised visibility of your entire contract management process with the assurance that your information remains confidential, secure and private?
• Easily identify the value of a contract in process and prioritise how quickly it can be completed?
• Solve your information management challenges without purchasing a new system or burdening your IT organisation?

Industry fact

More than 80% of a business’ transactions are tied to a contract, yet only 16% of legal departments have visibility into a majority (75%) of their contracts.

Iron Mountain workflow automation for contracts management

With Workflow Automation for Contracts Management you’ll be able to eliminate paper, centralise contract storage, have visibility into it, and manage the entire contract lifecycle. A library of contract templates will help you drive the consistent creation of quality contracts.

You’ll define processes that others need to follow and automate routing of documents to those who need to act on or respond to them, regardless of their location or your desire to use mobile devices. Time consuming tasks and errors will be reduced, allowing you to spend your time on value added activities.

This system allows you to create electronic notes, track conversations and capture revisions and supporting documents directly from email. You’ll be able to automate escalation notices of delays and needed documentation that is missing.

You’ll also be able to automate notification of contracts that are nearing expiration and automatically send reminders as due dates approach. You’ll be able to see the value of contracts in process and take action to speed them through to completion.

Configurable dashboards provide you with data and metrics for powerful insights and enable you to predict how quickly contracts will be completed. All of this is possible without the need to you to burden your IT department.

When you use Workflow Automation for Contracts Management, you’ll be better able to protect your organisation from risks associated with compliance, security and privacy lapses. You’ll have audit trail with documentation that tracks changes and activities that have been performed on folders and files, such as viewing and printing.

We take data center safeguarding and compliance seriously. Your information will reside securely within a data center infrastructure. Your data will be encrypted at rest and during transmission across a secure network. In the unlikely event that documents are accessed by an unauthorised person, the data will not be viewable.

The Workflow Automation for Contracts Management is available with the following complementary services, to create a solution that can remove paper from your information management responsibilities:

• Document Imaging Services
• Secure Storage Services

With our Document Imaging Services, you can have paper documents scanned and indexed, with metadata applied, for easy data retrieval.

With our Secure Storage Services, you’ll secure and protect your valuable physical records and documents and wrap a records management program around them.

With the Iron Mountain Workflow Automation for Contracts Management you’ll gain the benefits of best-in-class technology, avoid capital investment and IT burden. You’ll leverage our ability to link your physical and electronic records, wherever they reside, industry best-practice processes, facilities and personnel and our 65+ years experience protecting customers’ information security and privacy.