From business to business (or sector to sector), the technical requirements may vary when you’re looking for a software solution, especially when dealing with contracts and agreements. At the end of the day, stakeholders all want the same thing: a simpler, better way to manage contracts and agreements. What this translates to is a solution that enables them to quickly create, collaborate on and sign documents, and store finished agreements with ease while ensuring the highest level of security. Pathways provides organizations with powerful features which make managing their contracts and agreements much simpler and more efficient.

In this article, we will discuss five key features in Pathways that help streamline business activities. These include automated creation tools, a centralized document and template repository, in-app communication and collaboration tools, a secure data room and e-signature functionality. By leveraging these capabilities, businesses can gain greater visibility into their contractual obligations while boosting productivity across multiple departments at the same time.

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Automated Creation Tools for Streamlining Contract Production

The automation of contract production processes has become a necessity in today's rapidly evolving business environment. Businesses are able to significantly streamline their contract production process, resulting in faster turnaround times and increased accuracy when compared to manual processes.

A key feature in Pathways is the ability to clone a transaction process and save it as a template in The Library. This eliminates much of the time-consuming data entry work associated with manual processes, allowing users to quickly produce workflows with all the necessary steps and supporting documents and invite collaborators. It should be noted however, that automated workflow production will not replace all aspects of manual production; human review remains essential for ensuring all the appropriate materials are visible and accessible to all the right parties. But the fact of the matter is that, 80% of the work in setting up routine transactions can be automated to save you valuable time.

On top of streamlining production processes, automated creation tools enable businesses to monitor and manage activities related to document review and execution in one application instead of dealing with spreadsheets or several different tools separately – saving even more time and effort whilst increasing visibility into the broader system. As such, Pathways automation capabilities allow businesses to remain agile which is becoming increasingly important in today’s digital age.

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Centralized Contract Repository for Easier Maintenance and Accessibility

Having a comprehensive, easy-to-access consolidated repository of all your proprietary templates, forms, contracts and supporting documents can help you reduce operational costs and optimize efficiency. A centralized library enables businesses to store their most important documenys in one secure location, making them easier to manage, track, and access. Not only does this save time and effort when it comes to finding documents, it also makes sure that the correct version is being used in any given situation. 

Pathways Library provides a wide range of benefits for business owners. First, even though multiple contracts may contain similar elements or conditions, each will be kept in its own versioned file so that team members can easily distinguish between them. This helps avoid confusion over which version should be used in different situations. By centralizing the storage process, businesses can reduce friction points between teams who need agreements approved faster than ever before.

Overall, having a centralized contract repository, such as Pathways, will enable businesses to better create and negotiate contracts. Promoting accessibility from anywhere, allowing them to take control of their processes and effectively streamlining their operations while simultaneously reducing risk.

In App Communication and Collaboration Tools for Improved Collaboration‍

Having the ability to quickly, easily, and securely communicate with team members is essential to productivity and collaboration. With in-app communication and collaboration tools integrated into your existing workflow, workflows become easier to manage and execute. Your teams will be able to leave comments in a secure environment and keep track of changes or tasks that need to be carried out.

This type of technology is especially helpful when it comes to cutting down on emails that bog down progress. When people can communicate directly through the platform itself instead of relying on emails to move information between different departments or even across time zones (e.g., dispersed remote teams), there are typically fewer chances for misunderstandings due to miscommunication or lost messages — making it much easier to keep everyone in the loop quickly and accurately while also decreasing potential information leakage issues that could arise when using non-secured file sharing solutions.

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‍Secure Data Room for Secure Storage of Sensitive Information‍

Having the ability to store confidential and sensitive data in a secure data room is essential for businesses of all sizes. With a secure data room, you can easily share confidential information with partners, while also keeping it safe from unauthorized access or malicious attempts at data manipulation.

Secure data rooms help protect businesses from potential risks related to sharing sensitive and confidential information, especially when dealing with client data. By using an authenticated system for secure document storage, businesses can ensure that users are only able to access documents they have been authorized to view and edit – no more accidental sharing of confidential documents! In addition, these kind of systems also provide an audit trail, so that document changes can be tracked and monitored. This not only helps with compliance issues but also makes sure that stakeholders are always working from the most up-to-date version of any particular agreement or contract. 

E-Signature for Easier Electronic Signing of Contracts

E-signatures are an efficient way to digitally sign contracts, agreements, and forms. They provide a secure and legally valid way to verify the authenticity of documents while saving time and money associated with traditional paper signing processes used in the past. E-signatures are made possible in Pathways via Docusign integration. This not only creates a more efficient system of contract processing but also help protect companies from potential liability due to unrecognized digital signature solutions, which has been a commonly reported issue over the past few years.

In addition, having integrated e-signature provides companies with valuable tracking information for the audit trail. This is helpful for ensuring compliance for issues related to regulatory standards such GDPR or other applicable laws. Overall, e-signatures are an excellent way to move away from traditional paper signing processes while streamlining workflow operations and providing a friendly user experience. 

Your team needs a solution that increases output without increasing demand on bandwidth. You need a way to streamline your most repetitive processes to increase efficiency on a day-to-day and project-to-project basis. Your business partners need to be able to collaborate freely (and fully). Consider getting started with Pathways, a solution built thoughtfully for growing companies that are looking for their first #contractlifecyclemanagement solution.

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