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Platform Video: Workflow

Industry Trends & Challenges


From collecting and managing contracts to searching and analyzing information inside them, a business relies on their vendor contracts to minimize legal risk, reduce overspending, and ensure deliverables re met. But creating, managing, and maintaining contracts manually for any organization can often become tedious and cumbersome.  

Contracts Mgt solution
Platform Video: Workflow

Lifecycle Contract Management


K2’s solution provides managers a digital workspace to manage their contracts end-to-end, from administering contracts all the way to garnering signatures. Contract managers can use K2’s contract management tool to track all their active contracts and the tasks associated with them to streamline the negotiation, approval, and filing processes. Automating contract management allows companies to ensure compliance with their contracts, reduce administrative costs, and minimize contract cycle times.

Focus on Service Rather than Administration


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Auto-Generation of Contracts


  • Eliminate manual data entry for vendor details and auto-generate contracts 
  • Minimize errors and reduce back-and-forth between vendor and buyer 
  • Update contract details and terms immediately without having to re-generate documents 

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Quicker Signing Process Times


  • Customize email notifications based on priority and deadlines to signers for quick turnaround times 
  • Integrate DocuSign and other e-signature tools to expedite contract signatures 
  • Avoid paper-based processes: printing, signing, scanning, and emailing/faxing 

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Reduced Administrative Costs


  • Automatically consolidate contracts into a central, digital repository
  • Easily track active or older contracts by vendor or by contract type
  • Assign tasks to owners for increased efficiencies 

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Detailed Auditing and Reporting Capabilities


  • Gain visibility and control over active contracts and minimize contract cycle times  
  • Provide audit histories on individual contracts to help resolve any disputes or discrepancies 
  • Understand any bottlenecks that may occur and agreements that are stalling 

How it Works


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Submit New Contract


Using a K2 SmartForm, generate a contract with vendor details, contract owner details, and contract details including things like: 

    • Contract Title
    • Contract Category
    • Effective/Expiry Dates
    • Contract/Budget Amount
    • Priority
    • Legal/Finance Review Requirement
    • Envelope Signers 

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Manager Reviews


  • The generated contract kicks off a workflow and automatically gets sent to the manager for review. 
  • Routing can be customized if the contract is time-sensitive over a high priority so the appropriate manager can assess. 
  • Any necessary changes or edits that need to be made to the contract can be done immediately simply by updating contract details.  

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Sign and Deliver


  • Contract owners can sign within the K2 solution and all external parties are notified to sign the contract as well. 
  • Contracts will be immediately stored within a central repository for future access.  


QTC video
Manual Process