What is the purpose of the contract management system?

The contract management system aims to facilitate the company in managing all contracts with clients thereby reducing disputes between the two parties. contact our team of experts to find out the best software for your business.

What are the components in the contract management system?

There are four components of contract planning and management which include Contract Management Plan, Supplier Relationship Management, Transaction Management, Variation.

What is the use of contract management application?

You can use a contract management application that makes it easy for companies to track and manage various existing contracts. Both contracts that are approaching expired or still a long grace period.

Singapore’s Best Contract Management System

Q: What is Contract Management Software?

Contract Management Software is a software that facilitates the process of managing all aspects related to the agreement between the two parties

Our Contract Management Software helps you manage all types of contracts in one repository, access them directly from anywhere, automatically receive notifications when a contract is nearing expiration, and many more.

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3 Types of HashMicro’s Contract Management Software

Project-Based Contract Management

Enables you to manage contracts related to your projects. It allows you to track the profit and loss (total income) generated by the project.

Rental-Based Contract Management

This module is designed to help you manage contracts related to your rentals. It allows you to track your rented items.

Contract Document Management

Helps you maintain all types of contracts, including any files and attachments that support the integrity of the contracts.

Contract Management System’s Main Features

Project-Based Contract Management

Progressive Payment Tracker

Find the easiest way to track and figure out the number of fees that must be paid based on the progress of each job.

Term and Condition Documentation

This feature enables you to create and customize terms & conditions that you want to apply to each contract.

Project Profit and Loss Tracker

HashMicro’s Project-Based Contract Management module also allows you to figure out the profit & loss gained from each project.

Rental-Based Contract Management

Rental Expiry
Tracker

Get ease in tracking the expiration of your rental contracts. Notifications will appear automatically before a contract expires.

Recurring Invoice Creation

Automatically create recurring invoices every time you receive rental orders from the same customers at regular intervals.

Rental Item
Tracker

Keep track of all your rental items, check their availability, and figure out overdue rental items to charge the right late fees.

Contract Document Management

Contract Expiry
Tracker

This feature allows you to track the expiry date of all types of your contracts. Get automated alerts to renew your nearly expired contracts.

Contract Creation and Editing

Users can flexibly create and customize various types of contracts, and grant permission to other users who are trusted to edit them.

Files and Attachment Management

With this feature, users can easily store and manage any files & attachments related to contracts without storage limits.

The Integration of Contract Management Software

HRM System

Integrate the Contract Management System with the HRM System to enable you to create employment contracts using a complete employment database.

Contract

CRM-Sales System

The CRM-Sales System or Sales Management System makes it easier for you to create a different contract for each client based on the quotation sent.

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Providing the right solutions for our clients is our focus and priority.

FAQs

Frequently asked questions about our software solutions.

We provide various types of support, from free consultations and blueprints to training and user manuals, ensuring that your software is runs smoothly.

Our solutions are very comprehensive and designed for 15 industries. Our ERP system offers unlimited user licenses. Therefore, it can be used by everyone in your company at no additional cost.

We provide ready-made software that continually improves our development team. However, our software can also be tailored to meet the unique requirements of each of our clients.

Yes, our software has a mobile version to help you run your business better. Our mobile apps cover various functions, depending on the modules you are using.

EQUIP is web-based ERP software that can be run through the internet on any mobile device via any web browser.

We use PostgreSQL database management system, which ensures data security and scalable performance for many of simultaneous users.

We use Python, one of the most popular programming languages, to develop our software programs.

Explore Other ERP Modules

We also provide other modules your business might need.

Accounting

Get your cash flow estimated accurately. Generate various financial statements within seconds and reconcile your bank statements with a few clicks.

Inventory Management

Control inventory levels, manage and monitor stock transfers, and optimize inventory turnover at your store or warehouse.

Procurement

Ensure item purchases are in accordance with demands. Create POs and place orders with the right suppliers automatically.

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WHAT IS
Contract Management Software?

The contract administration program is outlined to assist attorneys and other experts make, arrange, reestablish, and collect information on existing trade contracts. A contract administration computer program is a crucial device for guaranteeing the expectation of each contract in your organization is completely realized, and it can maximize a contract’s execution, guaranteeing the requirement of commercial terms, quickening cash stream and time-to-revenue, and decreasing the hazard of non-compliance.

Making, arranging, and overseeing contracts, is a basic portion of each trade, in any case of the estimate. In any case, each step is time-consuming and inclined to standard information section blunders. A contract administration computer program, moreover known as contract lifecycle management (CLM), makes the method quicker while diminishing money related and review dangers.

In the enterprise, a contract administration computer program can be utilized to oversee a modern contract ask, capture information related to the contract, and record creating contract creation and transaction. The program can then follow the contract because it goes through the audit and endorsement handle, giving documentation for advanced marks and execution of the contract, counting post-execution following, and commitment administration. Such software not only gives trade proprietors way better perceivability into the status of a particular contract, it too encourages announcing and compliance.

Contract management is the process of managing the creation, execution, and analysis of contracts to maximize an organization's operational and financial performance while reducing financial risk. Organizations face increasing pressure to reduce costs and improve business performance.

Contract management software provides the necessary understanding of contract data, facilitates collaboration between parties, and saves time and costs with negligible risk. A report once said that inefficient contract management software could cost businesses $100 billion a year due to missed savings opportunities.

Therefore, a contract management system is a better way of contract management that also handles tracking and negotiation. Good software is necessary to reduce supply chain risk and ensure compliance at all stages of the supplier/supplier relationship. Advanced contract management software is essential for successful product launches, global expansions, hires, and other events.

1. Project-Based Contract Management
Designed to manage project-based contracts. Makes it easier for you to track the profit and loss generated per project.
A. Progressive Payment Tracker
This feature can track and find out the number of fees that must be paid based on the progress of each job.
B.Term and Condition Documentation
This feature makes it easy for you to create and customize the terms and conditions that you want to apply to each contract.
C.Project Profit and Loss Tracker HashMicro's Project-Based Contract also allows you to track the profits & losses you generate from each project.

2. Rental-Based Contract Management
Designed to manage contracts related to leasing. Help you keep track of the items you rent.
A. Rental Expiry tracker
B. Recurring Invoice Creation
C. Rental Items tracker

3. Contract Document Management
Serves to store all types of contracts, including files and any attachments related to the contract.
A. Contract Expiry tracker
B. Contract Creation and Editing
C. Files and Attachment Management

Contract management is the process of handling and executing contractual tasks for vendors, clients, staff, or others. Contracts in implementation usually include housing, work, and software licensing agreements.

There are 5 ways to choose a good contract management software for your company. There are 5 ways namely end user evaluation, key staff involvement, information distribution, technical compatibility, support and training.

1. Legal team
The legal department typically "owns" the procurement process in a company. In-house legal teams use contract management software to manage their contract templates and define rules that allow sales teams to create self-service contracts.

2. Sales team
Sellers hate anything to do with an agreement, so they'll often use a contract management solution for self-service contracts rather than waiting for a lawyer to do them.

Most contract management software is also integrated with leading CRM systems. This makes it easy for sales teams to manage contracts in Salesforce, along with other tools they know and love.

3. HR team
HR teams in fast-growing companies typically produce and manage large volumes of contracts. Contract management software allows HR teams to automate HR contracts at scale, making it faster and easier to hire and recruit new members.

4. Finance and Operations Team
Finance and operations teams need contract visibility. They need to reconcile contracts and invoices and generate accurate revenue forecasts for their business. Contract management software such as Juro allows teams to investigate, report and analyze contracts throughout their lifecycle.

Singapore’s Best Contract Management System