ContractZen offers a centralized solution that helps companies keep due diligence materials up-to-date. Additionally, everyone in your organization will know how to quickly find business documents and contracts, create virtual data rooms in a matter of a few clicks, and organize fully digital meetings.
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ContractZen Facilitates Corporate Governance
Managing critical documents and contracts is never an easy task. The ever-present competition between companies within complex economic environments further complicates this task. Additionally, the various regulations every company needs to comply with make corporate governance a veritable pressure cooker for company managers. Further, the proliferation of information silos can bring on a severe drop in productivity.
However, company leadership can avoid these problems by ensuring that critical documents are kept in a centralized location. Then, employees won’t have to struggle to find those documents when they’re needed most.
Centralized Storage Maximizes Productivity
When you store your critical business documents in a safe, centralized location, you’ll be able to quickly, securely, and easily share them with trusted parties. Meanwhile, you can also maintain powerful access control.
In this article, we take a close look at ContractZen, a turnkey business software service that simplifies digital file management, sharing, and workflows.
ContractZen Is an All-in-One Solution
In a nutshell, ContractZen is an all-in-one SaaS solution. It helps companies keep due diligence materials, meeting documents, and contracts up-to-date. This makes it easier to manage workflows. This is because users can upload, store, share, and manage critical business documents from the cloud.
In addition, with ContractZen, users can easily create new virtual data rooms for all sorts of audit situations with only a few clicks. For example, the software simplifies tax audits, joint ventures, mergers and acquisitions, and similar situations.
Key features on offer with ContractZen are:
1. Contract Management
Navigating “compliance fatigue” in a corporate environment is challenging. However, with ContractZen, you can drag-and-drop multiple files into the cloud-based system at the same time. In other words, you can quickly import your existing documents and get to work right away.
Of course, you can also easily use email with the ContractZen system as well. Additionally, you’ll have the option of setting automated email reminders on contracts. These can notify team members of important upcoming dates. Therefore, you’ll never have to worry about missing, for instance, a contract renewal date.
ContractZen Uses a Unique Metadata Tagging System
Further, ContractZen uses a unique metadata tagging system to create dynamic folders. This gives you quick access to contracts. It does this by improving on the age-old method of storing folders inside folders inside folders.
Alternatively, ContractZen’s metadata-driven storage allows you to organize data based on the type of information it contains, rather than the document it’s contained in.
This way, you can leverage visual tagging to set metadata. This makes it easier to more quickly find the the contract or document you’re looking for. For example, if you’re storing different sorts of contracts—such as NDA’s, licenses, and rentals—you can simply create a tag for each type. This makes it easy to access all related documents.
Easily Integrate an E-Signature Service into the ContractZen Platform
With ContractZen, you can also connect your e-signature service to your contract management hub. This allows you to send documents for signing. Plus, you can keep track of their progress until they’re signed and stored in your account.
ContractZen offers integration with several e-signature services. These include Assently, DocuSign, SignHero, and Adobe Sign.
Additionally, other tools within ContractZen’s suite of features support e-signature integrations as well. These include the virtual data rooms, board portal, financial administration, and meeting management.
All Your Documents Will be Easily Searchable
One of the standout features of this platform is that it’s powered by Microsoft’s Machine Vision OCR technologies.
Here’s how it works: Whenever you upload a document to ContractZen, the software transforms your document into searchable data. This way, you can simply search for what you need instead of trying to remember which document contained what information.
2. Virtual Data Rooms
Virtual data rooms are secure online spaces for storing and exchanging information. You might want to create a virtual data room for due diligence around mergers and acquisitions, for instance. This gives you the ability to effectively and securely execute deals in an online environment, instead of meeting in person to sign documents or review paperwork.
Alternatively, in cases where in-person meetings are necessary, everyone can come to the meeting prepared and with easy access to everything they need.
With ContractZen, you can set up a virtual data room with just a few clicks. Its advanced user management capabilities make it easy to grant access to authorized users. Additionally, you can choose tiered permissions, such as reading, printing, or downloading rights.
The virtual data rooms feature built-in tools for tracking users’ responsibilities by way of tagged documents and attachments. Each tagged document also has a group discussion timeline linked to it.
Documents Stored on the Platform Have Complete Audit Logs
With ContractZen, you can use the metadata tagging system to quickly find all of the documents you’re looking for. Then you can add them to a virtual data room on an ad hoc basis. For example, if you want to share documents relating to a specific company, simply search for it using the company’s name. Then add them to the virtual data room all at once.
In addition, documents circulated through virtual data rooms have complete audit logs and reports. This underrated feature can be especially useful in joint venture or merger and acquisition scenarios. ContractZen gives you insight into user actions, along with IP address tracking. Knowing who’s reviewing your documents (and when) can help companies maximize deal value.
From a technical standpoint, all documents and attachments are encrypted using RSA 256 encryption. The virtual data rooms themselves also have encrypted connections using Symantec SHA 256 RSA SSL. This means that documents stored within the ContractZen system are secure.
3. Meeting Management
Using ContractZen, you can manage board meetings, sales calls, and executive meetings. This will increase work efficiency, along with creating a better audit trail.
ContractZen’s meeting portal paves the way for a fully digital meeting process. This includes everything from scheduling the meeting to signing documents and contracts. Moreover, users can create meeting agendas and meeting minutes in mere moments. It also features a review tool for gathering feedback from attendees. All of this is done in a digital environment with no paper involved.
The Platform Includes a Built-In Meeting Scheduler
The platform also features a powerful, built-in meeting scheduler that takes the grunt work out of finding available slots that suit all stakeholders.
What’s more, it lets hosts send out invitations for meetings in a single click, then set automated email reminders. This way, there’s virtually no excuse for anyone to miss a meeting.
Use It for Task Management
ContractZen also has built-in features for effective task management and team collaboration. Specifically, it lets you create, prioritize, and follow up on tasks that have been agreed on during meetings.
Users can also securely share the meeting agenda and materials with their team. It also features a MeetingBook tool that lets users digitally add personal comments and annotations to materials.
Use the Platform on the Fly
ContractZen is a cloud-based service. This means it’s designed to work seamlessly across all devices. Therefore, corporate users have uninterrupted access to important business documents on the go.
ContractZen includes features like metadata-driven contract management, virtual data rooms, and meeting management capabilities, all rolled into one powerful corporate governance tool. It helps companies improve business operations by effectively reducing costs, accelerating internal and external processes, and minimizing risks with its top-notch encryption and security systems.
Its centralized solution will help to keep your company’s due diligence materials up-to-date. What’s more, everyone in your organization will be able to quickly find business documents and contracts, create virtual data rooms in a matter of a few clicks, and organize fully digital meetings.