Contract Lifecycle Management
Governance and Compliance are becoming heavier, and the number of contracts we manage increases. With this comes increases in risk - the risk of missing an obligation, drafting using an incorrect template, or incorrectly capturing obligations into third party systems.
Co-Flo Contract Lifecycle Management (CLM) ensures this process never goes awry again. Co-Flo uses a unique method of linking contracts to business processes to ensure that both the Contract and Case lifecycle are linked when they need to be, and obligations and risks are visible throughout the lifecycle. Co-Flo even pushes the obligations into third-party line of business systems, reducing duplicate data capture and errors.
Imagine a world where the contract is drafted only once and the terms and obligations are distributed through your organisation automatically.
Imagine no more. Welcome to Co-Flo.
Comprehensive contract request forms
Co-Flo’s Smart Forms ensure comprehensive information is gathered from the client to quickly and efficiently process a Contract Request. Best of all - Co-Flo gives you complete control over choosing which information to gather, and the power to update Smart Forms as requirements evolve.
Detailed dashboards & reports
All contracts and their metadata are available on agile dashboards, giving you one source of truth for obligation information.
Professionals have the freedom to create their own dashboards based on any of the data on the contracts. For example - a Manager could create a chart showing all contracts for a particular location, that are high-risk and expiring in the next 3 months.
Smart document drafting
A significant amount of drafting is repetitive. Eliminate this non-value-adding work with Co-Flo, which automates Contract assembly by combining Request details with the most up-to-date Contract Template in your Clause & Template Library.
You are not limited by the clause selection and can continue working and tailoring the document as required.
Business Process Management (BPM)
Co-Flo’s advanced workflow engine ensures the contract can be mapped to your business processes. The contracting process should not slow you down, nor should it increase the risk for the organisation.
Co-Flo also has the ability to push terms into your line of business systems, whilst maintaining a centralised reporting and management function. Escalations and reminders can be set up for when an obligation may be missed preventing bloated legal costs from external counsel due to litigation from missed obligations.
Easily generate Contract-based Tasks without leaving iManage Work. Co-Flo can set up notifications within the platform to notify personnel that a contract is due for renewal, or expiring soon. Tasks can even be generated for obligations such as multiple approval based on the values or risk of the contract.