Contract Insight 17.3.0
Announcing the newest release of Contract Insight™ Enterprise Edition Version 17.3.0. Building upon the success of Version 17.2, the new version now includes new, smart features across the multiple modules in the system, and improved overall capabilities and usability. We suggest users take advantage of the system update – the smarter features will improve your existing contract management processes.
The latest software updates and features
1. VISDOM AI and machine learning
VISDOM AI and machine learning can simplify data entry and give users access to advanced statistical testing. It systematically analyses contracts, and offers improved contract oversight, proactive opportunity, and risk mitigation. Essentially, it does hours of manual work in a few clicks of a button.
Manually entering contract data is significantly reduced or eliminated with VISDOM’s advanced machine learning. VISDOM uses historical contract information and organisational goals/rules to identify content in documents for accelerated contract entry and sentiment scoring (the natural use of language – both positive and negative – within the contracts).
Once contract data enters the system, VISDOM determines whether the information contains stats relevant to your organisation. When looking for certain criteria that have led to positive outcomes in the past, it can help find contract profiles that might also be beneficial. Negative outcomes and risk can be mitigated with early identification like this.
2. Mass eSigning
Contract Insight’s™ mass eSigning can help you out when you need multiple clients/parties to sign a new or updated document. When enabled, this new feature allows system administrators to specify rules for contracts within their system. It can be especially useful for organisations that need to process a lot of amendments and addenda. Additionally, users can leverage the user-friendly mass eSign tool for internal employee policies or vendor policy signatures.
The mass eSigning feature permits team administrators to send an updated terms agreement to all selected clients. Once sent out, system administrators can see who’s opened the agreement and who’s signed it. So the team can easily track whether the new agreement is completed, rejected, or in process for each party involved.
*Please note: Mass/bulk eSignatures require Contract Insight’s electronic signature module and will require licensing.
3. Enhanced user permissions
Permissions are an essential feature of contract management software. Tracking who can view and/or modify contract data helps fortify contract visibility. Contract Insight permissions have been enhanced, so your system administrators can now set more defined rules and permissions for department, employee, type, category, entity, status, contract amount, location, or categories relevant to you.
4. Improved user interface
Contract Insight’s interface is more user-friendly than ever before.
• User menu – users now have easy access to their dashboard, calendar, surveys, etc thanks to the user menu (shown above). Choose this drop-down menu and click-through the key areas of the system.
• Workspaces – do you need access to requests/contracts/negotiations? Choose what you want to pin in your workspace. Contract Insight users can now update workspaces, displaying each section of the system they need to access. Users can have multiple workspaces and can assign other users workspaces as needed.
5. New notification alerts – users can now use new notification alerts throughout the system. When they get a new notification, they will receive an alert attached to the bell icon in the system header.
6. Chat – This in-system chat feature enables users to communicate and share contract updates via a chat box within the system. Share links to contract records, updates, and more.
7. Logo size update – users have previously been able to have their organisation’s branded logo appear throughout their system, but this system update ensures your logo is visible throughout the desktop experience with a new logo size of 330px X 65px.
*For those who choose to configure a logout timer in their system, a one-minute warning will now pop up before the session expires.
8. Ad-hoc report advancements
We’ve updated the flexible ad-hoc reporting tool for Contract Insight. It now allows current users to generate reports based on system-defined or user-defined fields, so that users can now make in-line edits/changes to reports as needed – changes to contract records directly from the ad-hoc report view page and changes to contracts directly through report results. You can now review reports on the dashboard or report list, or have them sent to your inbox on a scheduled basis. This new feature users to report on sub-tables throughout their system, including files and notes.
9. Email security enhancements
The secure email feature allows users to share contract records and documents within the system so that confidential information is contained. Our new email security enhancements gives users the ability to send secure emails directly from their Contract Insight system to other users, or to vendors through the CobbleStone Vendor-Client Gateway. Emails sent in this way will now have a message sent to their personal email with a link, giving them access to secure email content within the system. For the Vendor-Client Gateway, users can send messages to external parties through the gateway, giving them with a link to view the email in the Gateway. And for security purposes, system users have the ability to set expiry dates for email links sent from the system. This feature means that who are sent a link only have access for the time defined.
Contract Insight from Four Business Solutions
Contract Insight helps you better manage and secure your business. This post highlights key feature enhancements, but is not a full description of the new system update. If you’d like to find out more, or you’d like a free trial to understand how Contract Insight can help you, please call me on 0800 6250 025.
John O’Brien is the CEO at Four Business Solutions, global business consultants and software integrators providing business processes improvements in Finance, Supply Chain & Operations, across a broad range of industries.