Contract Management Software for SMEs

Every SME has dozens or even hundreds of contracts: Rent, mobile phone, cleaning, office supplies, software subscriptions, credit cards, ...

Four inefficient strategies to manage contracts - and the solution

There are four strategies to manage such contracts:

1. management by chaos

Put all current contracts in a pile and write the deadlines on slips of paper. From time to time, one looks for a definitive filing place for the documents. And at some point you realise that this seemingly efficient method of "minimal management" is a secret time-eater.

2. folder parade

Who doesn't know them: the shelves where grey folders stand in rows. All neatly labelled. This has been the preferred management system for decades. It only works as long as you have the time or money to file every contract and regularly go through the folders to check the due dates.

3. "You do it"

You look for a capable trustee and simply send him all the contracts and invoices. Out of sight, out of mind. At the latest when you quickly need some information about the contracts or the trustee asks questions, the disadvantages of this method become apparent. It is also expensive.

4. contract management software

The principle is simple: record all contracts in a database so that all information can be found clearly on one platform. This is, of course, the ideal way. However, you have to bear in mind that you have to enter all the contract data yourself first. That costs quite a lot of time.

But there is another way: A new generation of Contract management software can be found in the next section.

An exciting alternative: Contract management software ContractHero

ContractHero is new. Ingeniously simple. It takes little time to enter contracts. And searching for contracts even less. So it's just right for busy companies who have better things to do than waste their valuable time on contract management. With ContractHero, you manage all your contracts centrally in one place. And without having to spend hours typing contract details into forms first. Simply upload your contracts. ContractHero analyses the contracts and extracts all the important information for you: subject matter of the contract, contracting parties, agreed costs, deadlines, etc. ContractHero provides this information in a clear dashboard.

The big picture of all your contracts

ContractHero gives you a complete overview of your contracts. You can search your entire contract inventory by keyword, sort it into categories, sort it, tag it, ... You can also display a list of all due dates. Or list all contracts that expire in the next 2 weeks. Our users find the financial evaluation options particularly exciting: For example, you can sum up sales revenues and contractual obligations across all contracts and graphically display the future cash flow. Of course, ContractHero cannot replace bookkeeping. But it does provide a good overview quickly and easily and also a good feeling of having everything under control.

Reminder of notice periods

With ContractHero you will never miss a cancellation period again. You can set a term and a cancellation period for each contract and also set a reminder. This way, you will be reminded of your expiring contract at the desired time and will no longer miss a deadline. You can react in time and cancel, renegotiate or extend the contract.

Conclusion

With ContractHero you can manage your contracts effortlessly. All you have to do is upload the contracts; ContractHero takes care of capturing the essential contract information for you. The software can also remind you of cancellation deadlines, so you can keep on top of all your contracts.


Sebastian Wengryn
CEO

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