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A Basic Guide To Using Cloud-based Contract Management Software

By Author: vikram kumar
Total Articles: 3731

The idea of using contract management software, for example, in a business can be daunting. People have been running businesses manually for many years.

To help you understand the software, what it does, and what it means by being in a cloud, here’s a short guide for you:

What is contract management software?

A contract management program is an application that allows you to store, organize, and send various types of business-related agreements, such as leases, contracts with vendors or suppliers, and licensing. It is normally added in cloud enterprise purchasing management software as a module. You can also buy it as a stand-alone program and the incorporate it later with your existing business software.

What does cloud-based mean?

There are two general ways to “own” the software. First, you can buy the license of the software, which is often called on-premise, since you usually install it in the drive or the computer. Lately, businesses are paying for cloud-based solutions, using the software that is available in the Internet.

Thus, when you say that contract management software is in the cloud, it is web based. For you to access it, you need to have a source for Internet connection, whether it’s LAN or wireless (e.g., WiFi).

What are the benefits in using software in a cloud?

One of the biggest advantages of using cloud enterprise purchasing management is you can save a huge amount of money, or, at the very least, you have more control over your business budget.

A separate IT company or developer takes care of the design, maintenance, and upgrade of a cloud-based solution, so you can forget about building your own IT team or teaching yourself more about servers, network infrastructure, etc.

Further, most of these programs are designed to be very easy to use, so you may choose not to hire somebody anymore. If you’re worried about spending too much time on a task, then you will appreciate the automation this type of program provides.

On the other hand, if you opt to hire someone to help you out, you can now outsource the management process since, as a web-based interface, it is accessible anytime and anywhere.

Can I establish controls with this software?

Yes, you can. You can, for example, create specific logins for authorized people, and even limit the features that can be used by each one of them. You can set up many approval levels, push notifications, and generate reports. In fact, applications such as this are valuable in auditing because of the digital trail and the amount of data that can be acquired in a short amount of time. Data may also be available in real time.

Is the cloud safe?

Generally, it is safe, provided that you choose your developer or the cloud enterprise purchasing management software very well. Security is a risk you take by being in a cloud, but as long as your developer is doing something to guarantee it, then there’s no reason why you should not use the program. On the other hand, you’re always welcome to ask questions to your developer if you need more reassurance.

Resource Box

Automate your purchasing process today and have more time leading, marketing, and building revenues and cash flows. Invest in a customizable and secure contract management software from Bellwether. When you invest in its cloud enterprise purchasing management, you also invest on the company’s over 29 years of experience in requisition and purchasing management.

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