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7 Sins of Spreadsheets for Contract Management Professionals

Still using spreadsheets to manage contracts? Let's take a look at the top ways they are slowing contract management professionals down- and what you can do about it.

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7 Sins of Spreadsheets for Contract Management Professionals

  1. 1.   For Contract Management Professionals The 7 Sins of Spreadsheets  
  2. 2.   In companies everywhere, contract management professionals are using spreadsheets to do their work.
  3. 3.   In some instances, spreadsheets can provide a useful way to track information.
  4. 4.   However, spreadsheets have a number of limitations−and are not the best choice for contract management.
  5. 5.   The conundrum: Using spreadsheets for contract management just isn’t cutting it. But finding a simple and affordable solution is tough.
  6. 6.   ContractWorks can help professionals like you overcome this challenge and free you to do your job more efficiently.
  7. 7.   Does any of the following sound familiar? If so, you’re not alone.
  8. 8.   Spreadsheets are time-consuming to create, format, and maintain. 1  
  9. 9.   Spreadsheets are created manually, so somebody has to invest the time to do so. This can take hours, not to mention the time spent updating information when changes occur.
  10. 10.   Spreadsheets are error-prone. 2  
  11. 11.   Because spreadsheets are created manually, they are bound to contain errors in data. Contract management software, on the other hand, has built-in tools to check data accuracy. !
  12. 12.   Spreadsheets don’t scale well. 3  
  13. 13.   When a company grows, so does its contracts. This can make spreadsheets especially cumbersome if they contain hundreds or even thousands of lines of information.
  14. 14.   Spreadsheets do not present a complete picture. 4  
  15. 15.   Spreadsheets only contain a summary of contract data. If you need to reference the original contract−you guessed it− you need to go find it elsewhere.
  16. 16.   Spreadsheets are often saved in multiple locations rather than a central repository. 5  
  17. 17.   Many people will need to access spreadsheet data. This makes it likely that multiple copies are stored in various places, leading to mistakes, redundant actions, and wasted time.
  18. 18.   Limiting the permissions on a spreadsheet is difficult. 6  
  19. 19.   Spreadsheets don’t contain different levels of viewing permissions. If somebody can see one row of data on the spreadsheet, they can see all rows of data. This can be a problem if confidentiality is a concern.
  20. 20.   Spreadsheets are vulnerable and may be lost, stolen, or compromised. 7  
  21. 21.   Spreadsheets are often saved on hard drives, and we all know that computers crash and files get lost. Spreadsheets can also disappear with employees or inadvertently end up in the wrong hands, compromising all contract data.
  22. 22.   Fortunately, there’s a better way!
  23. 23.   Introducing
  24. 24.   Helping contract management professionals like you get their job done.
  25. 25.   ContractWorks is the easiest, most secure contract management software with the features you need: • Secure Storage • Milestone Notifications • Reporting • Quick Search
  26. 26.   Ease of use makes this product stand out. Our previous solution was so difficult to implement and use that nobody in the office wanted to take the time to do it. With ContractWorks, anyone can login and begin using it from day one. Colin  McCarthy   Contracts  Paralegal,   Sonos,  Inc.   “ “
  27. 27.   Want to know more about ContractWorks and how it can help alleviate spreadsheet pain? Get a Free Trial or take a Demo!