What is Contact Management?
Contact management is the process of storing and tracking the data of customers and leads.
It provides quick access to customer data and also helps in growing and diversifying the customer database.
Benefits of Developing a Contract Management System
ENHANCED CUSTOMER RELATIONSHIP
Contact Management System allows businesses to store and keep track of tons of customer information and details.
Businesses can store contacts, notes, tasks, time logs, payment details, and much more in order to provide customers with the best possible services and build long-term relationships.
BOOST PRODUCTIVTY AND BETTER DATA ORGANIZATION.
Having access to a unified platform helps in boosting productivity and empowers the team to produce the best results.
Contract management system can automate and eliminate laborious work such as data entry. Employees can instead use their time and energy on more productive tasks.
BETTER CUSTOMER INSIGHTS.
Having a proper track record of the customer conversion journey can help in developing specific campaigns for a particular cohort.
Contact management system also helps in providing the best support services along with this also helps in meeting the customer needs better than competitors.
SMOOTHENS INTERNAL COLLABORATION.
With the help of a contract management system, employees' internal communication also improves due to a centralized repository of data and information.
Due to this reason, there is no time wasted on sharing information back and forth. This centralized system improves decision-making and speeds up collaboration.
ENHANCES CUSTOMER SATISFACTION.
Contact management software helps in enhancing customer satisfaction by providing personalized assistance to clients, this leads to a delightful experience.
There is also improvement in productivity and communication. Having a centralized system makes accessing customer information easy best possible support all the time.
ODOO CONSULTING SERVICES
Odoo is simple to use but requires correct guidance for implementing tailored solutions. Consulting services are for people to choose the best type of service for their business needs.
Types of Contract Management Software
1. Project-based Contract Management
- Manage contracts related to a particular project.
- Track profit/loss generated by the project.
2. Rental-based Contact Management
- Easily manage contracts related to rentals.
- Keep a tap and track your rented items easily.
3. Contract Document Management.
- Helps in maintaining all types of contact.
- It also includes files and attachments which support integrity.
Must-Have Features in Project-based Contact Management Software
Profit and loss tracker
Namah Softech can develop a project-based contract management module that allows its users to project profit/loss for a particular project.
Term and condition Documentation
Using this feature enables businesses to customize the terms and conditions for each and every contract.
Payment tracker
Track and figure out how much amount is to be paid for a particular job depending upon the progress that has taken place.
Must-Have Features in Rental-Based Contact Management Software
Rental Expiry Duration Tracker
Get automated notifications regarding contract expiration. It also eases tracking of rental contacts.
Recurring Invoice Creation
Automate the creation of recurring invoices each and every time one receives an order for rental orders from the same customer at regular intervals.
Rental Item Tracker
Keep track of items on rent, check their obtainability, and calculate overdue charges for late returns all with the help of a rental item tracker.
Must-Have Features in Contact Document Contact Management Software
Document file and attachment management
Get automated notifications regarding contract expiration. It also eases tracking of rental contacts.
Contract creation and editing
Create and customize various contacts and assign rights to users for editing them.
Contract due date tracker
Track expiration of contracts and get automatic alters for renewal of near-expiring contracts.
Section Who uses Contract Management Software?
A contract management platform can be used for types of businesses and various industries. There are some common users of contact management systems such as legal firms and business teams but usually require more complex features. In small businesses, it is used by Sales, procurement, and executive teams.
About us
1. Sales Team
With the help of cloud-based contract management software, the sales team can easily and quickly generate a contract and close deals before the opportunity runs out of hand. It usually takes more time for the legal team to generate a contract and by the time it is created the opportunity is gone.
2.Finance
Contract Management Software makes the finance department's work easier by providing transparency and data analytics to keep the company growing. Contact management software also makes tricking the taxation department difficult as it can easily show the audit trails which helps in keeping track of changes made.
3. Human Resource Department
HR departments with custom contract management software can produce lawyer-approved contracts for new hires. Digital contact management software also enables the need for everyone to be in the same room to pass a paper contact because changes can be easily made, e-signature is also possible which eliminates delay due to time and physical presence of staff members.
4. Legal
With the help of a contact management platform, a company’s legal team can quickly work on numerous contracts that they have drawn up and deal with. Contact management software can easily generate reports on a scheduled basis that are recurring in nature. An advanced contact management system also helps in locating relevant documents with advanced filters and searching capabilities saving time, resources, and energy.
Why Contact Management Software + Small Business is important?
In simple terms, a contract is between two parties agreeing and promising to act in a specific way in which both parties benefit by helping each other. For any kind of breach, there are rights to protect the interests of both.
Companies use to have boxes and rooms full of contact hard copies until recently, for a company with an excellent filing and storage system would require a physical warehouse for storing them. Now imagine if there is a small detail to be looked at and the person searching it would be required to search the whole warehouse for it however small or important it is.
Digital and cloud-based contact management systems/software make contract authorizing and calling up within seconds. For example, an 11-Year-old contact, page 34, line 15 has an important clause to be read this can be searched in the centralized system easily and fast compared to hard-copy of documents.
FAQ
1. What is a good contract management system?
One of the best contract management systems for small businesses is the Odoo contract management tool. Key features include validating the contract, organizing workflows, levels/ steps of contract approval, using existing contracts to create new ones, closing contracts based on their due date, multi-company and multi-currency features supported, and much more.
2. What is the contract type in Odoo?
There are different types of contracts in Odoo such as monthly, quarterly, semi-annually, weekly, bi-weekly, and bi-monthly. There is also an option to fill in contact details such as contract start and end date, working schedule, HR responsibility, new contract templates, etc.
3. What does contract management software do?
Contract management tool is a software which unifies all parties involved, contracts, and versions participating in contract creation and negotiation. A contract management solution acts as a trustable medium which allows the parties involved to keep track of changes and track the contract timelines from generation to signing.
4. What is required for contract management?
The contract management software development company must understand the scope of contract, pricing mechanism, service levels/deadlines, monitoring periods, and governance processes.
5. What is the most popular contract system used by businesses?
The most popular contract system is Lump sum contracts, which is also known as fixed price contracts, in this a fixed price for material and labor required for completing a job is established.
6. Can I make my own business contract?
Yes, any business can write its own contract but consider hiring a business lawyer from your state who would be helpful in contract drafting process. This step ensures documents are valid and correct for transaction also avoiding legal mistakes.
7. Who uses contract management software?
Some of the many departments which use contract management software include Legal, HR, Procurement, Finance, Sales, Marketing, and many more.
8. Is CRM and CLM the same?
CRM focuses entirely on different stages of a customer lifecycle to find opportunities for improvements. CLM evaluates customer-related metrics collected from various customers in lifecycle stages to measure the organization’s performance.
9. What is a smart contract management system?
- Smart contracts are simply programs that are stored in a blockchain which runs when the predetermined conditions are met. Smart contracts automate execution of an agreement such that all participants can be certain about the outcome with time loss.
10. What are the stages in the contract management process?
These are the stages in the contract management process.
- Contract creation
- Negotiation and collaboration
- Review and approval
- Administration and execution
- Ongoing management and renewal
- Reporting and tracking
What Our Clients Say
"Working with Namah Softech Pvt. Ltd. as our Odoo implementation partner has been a game-changer for our business in South Africa. Their team is incredibly knowledgeable and responsive, ensuring that our ERP system is fully customized to meet our unique needs. Their attention to detail and prompt support has made our transition to Odoo seamless. We look forward to continuing our collaboration!"
"Namah Softech Pvt. Ltd. has been instrumental in streamlining our operations with Odoo. As a Dubai-based company, we needed a partner who understood our local business requirements and could deliver results fast. Namah Softech exceeded our expectations with their technical expertise and excellent customer service. Their dedication to delivering on time and within budget is highly commendable."
"We had a complex Odoo implementation that needed to be done across multiple departments, and Namah Softech Pvt. Ltd. handled it with exceptional professionalism. Their team was with us every step of the way, from initial consultation to post-launch support. The system has greatly improved our efficiency and data accuracy, and we’re extremely happy with the level of service provided. Highly recommend Namah Softech to any business looking for a reliable Odoo partner in the U.S."
"Namah Softech Pvt. Ltd. has been our trusted Odoo partner for the past two years. Their deep understanding of Odoo’s capabilities and their ability to customize the platform according to our business needs in India has been a huge asset. The team is approachable, proactive, and consistently delivers outstanding results. We’re delighted with their services and ongoing support."
"Namah Softech Pvt. Ltd. delivered a custom Odoo implementation that has streamlined our business processes and significantly reduced manual intervention. Their mobile development team built an app that connects our operations in real-time, increasing our overall efficiency. Highly recommend them for businesses looking for custom ERP and mobile solutions."