Contractify is a comprehensive contract management software designed to streamline and automate the entire contract lifecycle, making it an essential tool for professionals across various departments, including legal, finance, sales, management, HR, and more.
What Contractify Does
Contractify helps organizations manage, sign, and secure their contracts and agreements efficiently. It centralizes all contract-related documents and data in a single, secure environment, ensuring that all team members have access to the information they need. This platform leverages artificial intelligence and automation to enhance contract management, reducing the risk of missed deadlines, overlooked obligations, and other common pitfalls.
Key Features and Functionality
Contract Analysis and Summarization
Contractify features an AI contract data analyst named ADA, which extracts contract data, including general terms and conditions, from contracts in any language. ADA summarizes contracts, providing a clear overview of what each contract entails, and ensures important deadlines are not missed through automatic reminders.
Centralized Contract Repository
The platform allows users to centralize all contracts and related documents in one secure space. This includes tracking each document’s status, start date, and renewal date in a single overview. Powerful contract filters enable quick and easy document retrieval.
Automated Contract Actions and Collaboration
Contractify facilitates collaboration on contracts with customizable approval flows and version control. It logs any changes and includes built-in communication tools. Automated email notifications ensure proactive follow-up on contracts, and approval workflows can be tailored for different contract types or departments.
Digital Signatures and E-Signing
The platform integrates legally binding digital signatures, allowing contracts to be signed faster online. It tracks signing statuses and sends reminders through approval flows, ensuring a smooth signing process.
User Management and Permissions
Contractify includes robust user management features, allowing organizations to control access rights and assign team managers. This ensures that all team members are aligned on a shared platform while maintaining data security.
Dashboards and Reporting
The software provides personalized reports and allows users to build custom reports using the data they need. This feature helps gain insights from a large amount of contract data, enhancing decision-making.
Integration and Implementation
Contractify can integrate with existing systems such as Microsoft Active Directory for single-sign-on and connect to CRM or ERP systems to synchronize contract party data. The pre-packaged implementation option, supported by Deloitte Legal, allows for a quick and cost-efficient setup, typically within one to three months.
Financial Governance and Efficiency
For finance professionals, Contractify optimizes financial governance by reducing time spent on repetitive contract administration tasks. It sets up consistent procedures for contract approval, signing, and follow-up, and helps minimize profit erosion by ensuring no contract deadlines are missed.
Pricing and Plans
Contractify offers different plans to suit various organizational needs. The “Lite” plan includes an unlimited amount of contracts, automated follow-up tasks, extensive contract reporting, and is inclusive of 3 users. The “Professional” plan adds features such as approval workflows, AI assistance, and includes 5 users.
