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good morning and welcome to the webinar on contract management today we're going to look at Contract Management Solutions utilizing on base my name is Ben Schwarz I'm an accountant executive here at naviant I'm joined today by guy he is our sales engineering manager um for today's webinar please feel free to ask questions by typing them in the discussion window because your microphones have been muted in our session today we will be following a contract from an initial request all the way through its retention as a business record we will see a demo but first I'll be describing some pains that are common to an organization over the life cycle of a contract organizations may only be experiencing some of these but from our experience the pains we will show solutions for today are the most commonly occurring contracts are sometimes overlooked with an or within an organization but when we step back and take a broad view contracts are everywhere organizations deal with contracts of many types for all departments and from numerous vendors this creates a huge opportunity for interde Department miscommunication and confusion as a basic solution many organizations have adopted a paper-based process or even a file share system using Outlook to move word doc drafts of these contracts from business segments to approvers to legal and to leadership this sets up pitfalls that can create problems down the line our goal today will be to demonstrate the power and Clarity of employing an Enterprise information platform such as onbase to eliminate these pitfalls so what are the root causes for problems for contract management flow information silos this is a common problem um one Department might not know what another department is doing standardization is sometimes lacking sometimes access to these contracts is too open at the same time oversight during contract negotiations can be too loose visibility to the key decision makers can result in missed opportunities and we'll end on a big one um there are often times delays in the approval the approval process so with these problems outlined outlined I have some questions does everyone in your organization understand the contract move approval process how many different drafts of a contract is your organization producing is everyone working off the same Draft when a revision is made when a contract is executed are all other draft revisions stored or destroyed is there transparency to the one true executed contract what contract s are expiring and when is your organization missing an opportunity to to renegotiate who is executing the contracts for the organization are all contracts being approved by the appropriate people with these questions in mind um what does a optimized contract cycle look like this is a a ideal contract life cycle as you can see it is a cycle rather than linear flow we consider it a cycle because even though a contract can end it is often times replaced or renewed guy will address each of these topics in the demo uh and we will walk you all the way through this process to an executed contract in today's demonstration we'll attempt to show you a complete life cycle using the onbase contract management tool we will cover how onbase will manage data how we can attack attach incoming drafts how we can draft our own contracts from templates how we can manage the review process we can manage key dates and finally we can search those contracts just beyond the metadata um that we have provided so let's get started with this first section of the demo we will learn how to generate a contract request and enter core data of that contract we you also learn why that's important okay all right thanks Ben um we're going to go relatively quickly here obviously in 30 minutes um it's not meant to be a full demonstration but more so the art of the possible what are the different things that can be considered as part of a contract management solution and what we're looking at right here is uh just a screenshot where there might be different dashboards that people that are involved with the contract management process might have access to but let's start from the beginning say say there is a contract request that's upcoming you can see this contract management users vendor contract request form we can design these different forms that when a user clicks there it pops open a form um requiring information that's is specifically necessary for your contract management life cycle process such as drop- down fields for like the types of different contracts that you might have here let's use the example of a non-disclosure agreement uh for the rest of this um presentation uh dates when do we want to have this this contract completed by so obviously we can set some deadlines let's hit this for 527 uh special instructions obviously we can type in information there but then who is the vendor is this the vendor that we are already dealing with or somebody that's new so let's start by saying let's use an an existing vendor these forms can be very Dynamic and change based upon the selections where if we're dealing with an existing vendor we're presented with a drop down box saying who is this existing vendor but in our case let's go ahead and change that to say we are dealing with a new vendor here obviously in that case we need to now capture some demographics pertaining to that vendor naviant our street address citystate zip who our contacts are so on and so forth but as we move through the form here and asking for further information the contract that we're looking to negotiate here is this coming from the vendor or is this coming from from us in the case where we're saying this is coming from the vendor we can go ahead and say yes there we're prompted to say now go ahead and attach that draft contract to this eform and now those two uh documents the eform as well as that draft are working side by side through the rest of the process getting in front of the appropriate people but in our case here we're going to go ahead and say no I want to show you this a little bit later within the demonstration how we can utilize Microsoft Word templates on our paperwork to automatically complete something like an NDA so user can then just submit here now this could be any user within the organization that we can give access to a form like this or restrict that to specific individuals but when somebody actually submits that particular form it now starts in the process and I can see on my dashboard here my open contract requests that bottom one contract number 494 the NDA that has been automatically added to my work queue and it can be as simple as the user clicking on that contract number uh hyperlink there that would Now open up a record that has taken that same information that we've populated on that uh electronic form and now puts it more into a structured application rather than going through all the details here let me back out and kind of go a little bit different direction because there's much more than just having a record like that you can see up on the top here that we have this contract manager in this particular Paradigm we're using an i based product called workview to be able to manage all of this data as well as integrating with a workflow process to get that record the draft in front of the appropriate individuals for review but let me walk through what an application could look like here you can see on this particular screen I'm automatically presented with a my open requests search so these are all the different requests that might have been assigned to me to to work as a legal uh administrative assistant or a contract manager but there's different searches that can be ex executed on the left side here like under this contract Administration tab I can open that up and invoke a search saying you know what I want to take a look at the contracts that are expiring the next three months you can very quickly see that there are no records up up there uh at this point in time but maybe I want to take a look at all my expired contracts that might be a different search excuse me and when I invoke that now I can see all of the data relating to the records that have already been expired and you can see the expiration date being visible far on the right there and this very much is like a Microsoft Excel spreadsheet you can sort all of this information slicing and dicing that but let's come back to my open requests here and while we see the textual information for all of the different requests that are assigned to me I also have the ability to come in here and say I want to display this as a dashboard to give that more graphical looking feel to it and when I do that that gives us the ability to slice and dice this information a little bit differently in this particular case I can see that bar chart up on the top these are my different types of contracts background check um Master softer agreement uh non-disclosure agreement and broken down by who the legal assistant is that's uh managing that particular contract or the pie chart down the lower left for the contract type but I still have all of the data available to me in that grid down in the lower right hand corner of the screen we're just going to go ahead and switch this back to the filter View and I'm going to pass it back on over to Ben here to continue with the presentation all right well let's take a a second to think about what we just saw we have not yet composed a contract but by entering some simple core data about the contract we have done two things first we have supplied onbase with unique data about the contract in a way that can be tracked and displayed on a dashboard second is we move to the contract composition phase we can use the information that we just applied along with a standard template that our organization uses for this type of contract to automatically generate a Word document for our initial review so coming up next we will be seeing how those templates make drafting contracts quicker and easier and how an inti and how an initial review of that contract can be done by the contract administrator so let's jump back into the demonstration here and kind of picking up where we left off one of the things I just wanted to highlight here with uh within this particular phase is that we can set up this these different applications to capture whatever information again is necessary while we first captured this via that electronic form earlier you can see the organization here is the request detail details in the upper left moving to the right we have our different key dates what was the request date when do we want to complete this buy obviously at some point in time we'll have an effective date an expiration date who is our external party who is the team both internally and externally to the organization but you can see additional information for notes tasks and Milestones as well as all of our contract related documents appearing in the lower right hand corner but we can also configure multiple different screens here where if if I switch to this Administration view that now shows me all of the different contract approvers that need to be involved within this particular process um so these screens are very Dynamic can be configured specifically how you want them to behave without a lot of effort this is all done through point-and-click configuration but now since we need to start talking about the process related to this not just the data but people have to review these contracts that's where we start introducing our different tasks here and again these tasks can be configured specifically for your organization where we can do such things as saying let's add an approver Who besides that manager needs to be involved that will walk the user through selecting my different approvers Sam Jones in this particular case and you can see now Sam has been added to my list of authorized contract approvers maybe we want to come in here and say we're almost ready to draft this contract now from our template recall we said let's do this on our paperwork it's a non disclosure agreement but maybe there's a specific Clause that needs to be added here we can present the user with the different types of Clauses that are available for uh this non-disclosure agreement in this case let's add an arbitration clause and we can ultimately get to the point where we say let's go ahead and create that draft contract this is another nice component to a solution where we configure the templates that your organization uses but when we get to that appropriate time within the process if this is going to be on our paperwork the user can go ahead and invoke that create the draft contract and the system automatically takes that discrete data the dates who the vendor is naviant at their specifically specific address so on and so forth and puts together that NDA for us where also like that arbitration Clause that we added that can be automatically added to the contract so again we' removed that element of human error if we can configure this via a template but it still is a fully revisable Microsoft Word document you can see within the header there you have all of the word capabilities that uh are natively available uh for any user to modify this to track changes to highlight to change your font so on and so forth But ultimately once we go through these modifications and say all right I want to create this draft we can say accept here and that automatically now stores that inside the Omas system it is still a Microsoft Word document but you can see in the lower right hand corner that draft of that NDA has now been attached to this particular record so now we're managing the entire entity the data and the documents all from a single screen here now we can do a bunch of additional things you see the a whole bunch of tasks up at the top there we're going to add a note we're going to add a task and when we do that you can see we can automatically populate where the side notes are on the left side right in the middle the tasks and the Milestones that appear down at the bottom again one of the key things that we need to track throughout the whole process here if I wanted to actually uh take a look at that record specific uh specifically relating to that insuring legal council reviews this NDA I just double click on it it opens up a whole another screen again these can be configured as need be there's a status there associated with that it's still an open task which really leads us to that next piece where there might be a whole task history what are the different tasks in this particular case we have the open request tasks up on the top portion as they're completed they will move down to the bottom section of the screen so that gets us ready to really kind of keep on keep things moving here where we're going to send this now off to legal councel for their review but before we do that let's let Ben step step back in here and get us back to a checkpoint all all right thank you guy um so in this uh this last section we have uh drafted a contract automatically with the use of a template and again that template was created in advance by our own organization uh which means that you do have control over the templates that that you're going to use um so the contract is drafted uh next the contract administrator has reviewed the draft and has approved it uh to go on to the next level of approvers so what coming up next uh let's watch now as guy sends a final draft to be reviewed by legal and we'll also talk some revision control as we get in here so still within my record here notice I have highlighted here any time that I take a look at this I can understand where we are within the process since I already sent this off to Legal councel the status has been updated to legal counsel review so that's key visibility where are we within the entire process uh for any of the participants that might be involved with the contract review process so let's switch gears here I wouldn't expect that legal council would be checking an application on a daily basis to see that there's work available for them what we typically see is most people have Microsoft Outlook open all day long and in this particular case um the system has already sent a notification to my legal counsel saying that there's a contract request for an NDA with nav that requires your attention from an email like this they have all the capabilities to view all of the different uh tasks that might be invol might be available to them at this step in the process but more importantly that they have the rights to view the primary document uh through a single click at the bottom of the window as we do that that opens up that same record that we saw before if we choose that's what they want to be viewing we could just send that draft contract to them as the primary document also so again highly configurable based upon how your organization wants to utilize the tool but the key here is that I can go ahead and select the draft contract and again that opens inside the context of ombase but again I'm dealing with the native Microsoft Word document how many times does something get in front of legal counsel and they don't make changes very rarely um so they can go ahead and in this case I've turned on changes that still works in this particular mode again a Microsoft Word capability and we've updated some of this information quite simply all that the user needs to do legal counsel is to say let's save this like they normally would save it since I've set this document type up as a revisable document type I can save this as a revision save it as a new document I want to save this as a revision and now we can see that in the upper right hand corner of that window that there's two revisions to this document the system can track the entire revision history with the most recent revision being what's first displayed to a user anytime throughout the whole rest of the process so as I close down this screen I can come back and now take any particular action on any of these tasks I'm going to go ahead and send this back to legal counsel and when I do that notice my email gets updated saying I've taken that uh send back action on this particular date and time really I've performed my work as legal counsel and now let's switch hats let's come back uh where before I was with um legal counsel now it's back to Legal admin review but I can also see that task to ensure that legal council has reviewed that NDA has been completed um so on and so forth as we go through the process and again jumping back to Ben for another quick checkpoint before we jump into the last section of the demonstration outstanding thank you guy so you can see that we now have a contract that has been Revis and approve by legal councel we've accomplished all that through integration with Microsoft Outlook and we have the revisions tracked so that we can create a final draft that can be executed okay so coming up next uh when it is time to execute this contract we will keep our workflow off of paper guy is about to demonstrate how we can capture the executed contract with Doc you sign after that we will see how uh that contract reintroduces itself back into workflow as it nears the end of its terms all right so this is a little bit of a catch-all section into the demonstration that might this might take a few more minutes than what we saw before but kind of picking up where we left off again legal has taken a look at this now uh our contract admin needs to be involved again to finish up the rest of the process and I fully understand there many might be many more steps here there might be approvers that now need to take a look at this using the same techn technologies that we've just shown sending those notifications allowing them to view the contract potentially updating them saving the revisions communicating that information on back uh to your uh legal admin that's all Native to the solution here but we're just going to jump forward a little bit here again now what I'm sitting here as legal counsel I'm sorry my uh uh admin contract admin what do I know do I know specifically what was change within that contract well natively no but if I take a look at that draft contract now in the lower right hand corner I can see that there has been two revisions so when I open that up I again have that revision history up here and in my case legal council was kind enough to turn on track changes even think of going through this with contract negotiation with uh the outside vendor they might make changes they might not save that so as we're exchanging these documents back and forth and bringing them into the system and saving them as revisions I have the ability where I can come in here and say compare my different revisions that when I do that it uses Microsoft Word compare functions where I have the compare document in the middle I have the original on the upper right I have the revised document in the lower right so that I can quickly identify what has changed with this document since I last touched it with the known revision again a very valid able tool to be able to track that all from a single uh interface let's say we've now gotten to that point and let's switch gears here we need to execute this contract given we can print out hard copies we can start uh sending those around uh or sending off PDFs and the like but i' like to highlight this capability to create a PDF or addition of the document which can't be modified uh but also to use now electronic signing capabilities in this case I'll show you some of the integration capabilities onbase does integrate with docy sign as well as cic ceremony server uh one um but using the docy sign example here when somebody says let's go ahead and send this off onbase is now talking directly with docy sign you do need to have a docy sign account and some configuration behind the scenes but here you can see it's created a PDF rendition I've actually put in uh the subject for the message as well as saying that guy shraer G shraer naviant.com is my recipient I've actually placed in where the signatures need to be captured if there was any place for initials dating uh typing in company title so on and so forth that's all part of the solution here so we can just simply say let's send this in the upper right hand corner and that now stores inside of vase another revision to the do document because now I have a PDF revision again going back I could view my word Renditions but there's a nice little view docky sign status here so as this is out obviously this outside the world of your workflow that you're managing through email uh all of this is happening with docy sign but you want to check the status you can actually check that through that view docy sign status and see that activity history down at the bottom that on 513 at 2:11 is when I actually sent that invitation and that that envelope was created just a few moments before um when the end user actually signed this document we'll see this but let's just kind of uh Jump Ahead here a little bit from the user's perspective when that third party receives notification they're going to get that via an email from docy sign so this is non basis now handing off to docy sign for doing their work where all that the user needs to do is follow the instructions click on review document that takes them into a web browser takes them directly to the document that they need to uh sign and they're Pres presenter with simple instructions saying click on continue they're now viewing that document you can start you can walk through that entire document stop anywhere where there needs to be initials or you get to the signature portion where you can come in here and sign either using uh some type of signature device or say this is my bit map for my signature my name my title is all put in there the end user they just say I'm finished and that then completes the side process from the third party they'll get an email on their side in this particular case saying that the documents been completed they get a copy of their signed piece of this and they will also get a copy of any countersigned version of this document once that comes back through onbase and internal signatures are gathered so coming back into the ombase interface onbase automatically updates with all that signature information as it takes place and that'll happen within moments after the user signs that Within where now I have that full PDF revision all my signatures are down there I can check that same uh status and see now at different dates and different times that the envelope was signed and that uh the user was sent that that document also so again nice seamless process through and through for capturing that signed contract we can do different things by now changing the document type saying that it's signed but the key here is that we need to put in an expiration date that might be involved but also to come in and say the contract is now effective when I do something like that you can see very blatantly it puts that nice green bar in there saying that the contract status is effective we are now running you can see that there the effective date was automatically placed in there whether that's something that you want to place in there or have the system automatically date and time that time stamp that when you click that um contract effective again that's an option for configuring the solution but again since I said that that was expiring August 1st that now appears on my contracts expiring the next 3 months uh search so that I have this complete visibility not only for things that are in process of trying to get negotiated and signed off on but Al also those contracts that are in Flight already that I need to manage the expiration dates so that I can stay ahead of this um we can also set up different notifications on a daily basis let's check do I have anything that's going to be expiring within the next 3 months or 60 days or really you name that variable where we can start sending some proactive notifications to users so that none of these contracts are lost in the process and then that whole renegotiation process might follow that exact same process that we saw before we draft a contract we work it through it's now just replacing that existing contract that's going to expire on 81 but but the last piece that I really wanted to show you here now is that's great we've stored some information pertaining to the vendor it's an NDA we know the contact information but we might not know a lot of the specific details that were included inside that contract especially if it comes from um on somebody else's paperwork that I have this fulltech search capability inside the ombas system where maybe I'm looking for all of the contracts that had a non-waiver clause we saw as we we put that in there uh put in the uh arbitration Clause before when I search on something like that it will bring back my results I can see that there's two contracts that have a non waver clause and if I select any one of them they're both ndas it can go ahead and open that document up and automatically take me to the section of the document that has that uh text term in this particular case automatically highlighted for me where I can see here are my non- waver Clause contracts that I have and again be able to manage this from the backside of the process this is highly configurable many things that you can do with the solution but uh just to kind of give you some different ideas of what some of the um potential capabilities are so let me just finish up the checkpoint here in the interest of time again we've gotten through this now we've added the electronic signature showed you the different user interfaces as well as completing that contract and going through the capabilities to search uh those documents well beyond the meta data that we captured at the beginning of the process so again this high level recap all the way from contract request authoring that document negotiations the collaboration going through those revisions reviewing and approving that contract executing it and now tracking potentially the obligations that um we've agreed to within this particular contract those are some additional components to this getting around that expiration and renewal as well as any amendments that might come along with this so it's a full life cycle Circle that might be involved through the entire process all right thank you guys so let's let's take a look at uh any questions that may have come in during the I don't think we have any questions at this point in time we don't we must have done a a great job of explaining guy good job uh if you do have any questions that come up at a later time um our emails are listed here on the screen in a second there we go um are listed here on the screen do not hesitate to reach out to us and as always feel free to visit naviant.com for any additional information surrounding Enterprise content management or creating your own Enterprise information platform and we'll stay on the the goto meeting go to webinar for a few moments so if you do have any questions still feel free to use that uh question panel and we uh answering those questions over the next five 10 minutes thank you so much for taking the time today we appreciate it uh this concludes the webinar we will be recording this and uh you will see that uh up on our YouTube site sometime soon thank you so much