The vast majority of contracts are still executed and recorded on paper, making it difficult to keep pace with business requirements for secure, rapid access to current and accurate contract data.
- Paper contract management is a time sink. With the average company generating more than 6,000 contracts per year, the time spent searching for contracts adds up to a considerable waste of resources.
- The financial risks of contract errors are significant. Without the ability to search for and search within contracts electronically, it’s nearly impossible to guard against these errors.
- Contracts contain proprietary and private information that needs to be kept confidential. Multiple privacy regulations impose financial penalties in the event of a breach of private customer data, and contracts may be required for litigation discovery.
What if you could
Automating contract management helps you:
- Replace redundant, time-consuming tasks with automated operations and centralized visibility of your entire contract management process.
- Consistently create quality, up-to-date contracts and send out automated renewals.
- Improve your data privacy, security, and compliance capabilities.
Iron Mountain® Contract Management
With Iron Mountain Contract Management, our experts can help you:
- Enable self-serve digital contract creation: Approved users can scan in, upload, or generate new contracts from available templates with dynamic metadata.
- Digitize paper contracts: You can digitize contracts, or Iron Mountain can do it for you. Optical character recognition (OCR) extracts content to make it easily searchable. Low-code/no-code capabilities help you further tailor automated workflows to your needs for faster, more accurate results.
- Connect data across platforms: Integration with existing systems lets you connect data across platforms and break down silos. You can define dynamic or static workflows or different processes regarding contract type or department.
- Enable anytime, anywhere access: Approved team members can search for, access, and easily search within contracts on our secure enterprise content management (ECM) platform via a single web-based portal. You can choose to integrate e-signature to simplify contract approval and to enhance the client experience.
- Protect your business: Our content platform complies with industry standards and provides auditing, tracking, and reporting capabilities to help you respond to audits and discovery requests in a timely fashion.
- Manage the entire lifecycle: Iron Mountain can dispose of your physical documents by securely storing or shredding them or returning them to you.
The results will have a significant impact on your day-to-day operations, helping you:
- Find contracts faster: Spend less time looking for what you need and more on strategic value-building activities.
- Protect the business from risks: Automate the contract management process to provide up-to-date, accurate contracts and renewals.
- Improve security and auditability: Better protect confidential business information through robust access controls, security rules, and reporting plus features that streamline audit and discovery compliance.