This document discusses how contract management software can automate and streamline contract workflows, reducing operational costs by 75% annually. It outlines the typical paper-based contract process and how software can eliminate waste at each step, including automated data entry, digital distribution, routing contracts according to business rules, error checking, storage, and retrieval. It provides a case study of an insurance broker that estimates the software could save over $24,000 per year in data entry costs and $18,165 in distribution costs by handling contracts digitally rather than with paper.
Data-Driven Wins: How eSignatures Can Transform Your Business
White Paper Automate Contract Workflows
1. Automate Your Contract Workflows With
Contract Management Software — Reduce
Operational Costs 75% Annually.
The practice of allocating more and more labor to relieve paperwork bottlenecks is becoming
antiquated. More and more, organizations are beginning to automate their contract workflows
through technology. In the past, this technology was expensive and time-consuming to implement
and manage. The contract management software market has been revitalized with powerful
technology that is affordable, rapid to implement and provides a compelling return on investment.
2. Automate Your Contract Workflows With
Contract Management Software — Reduce
Operational Costs 75% Annually
Automate your contract workflows - save
time and money
What is “contract management software”
and how does it differ from “e-signature”
technology?
Is contract management software right
for you?
The toxic impact of paper on our
global environment
Why are companies transitioning from
paper to contract management software?
Step one: Contract preparation
Step two: Distribute the contracts
Step three: Business process — route
the contracts
Step four: Correct errors
Step five: Store the contracts
Step six: Retrieve the contracts
Return on investment — Insurance broker
case study
Process improvement calculations
Data-entry cost
Distribution cost
Data error-checking cost
Filling and retrieval cost
CONTENTS
Abandoned documents
The bottom line
Agreement Express by Recombo™ — The
Fastest Way to Automate Your Contract
Workflows - Saving You Time & Money
Contract handling
Creating digital contracts
Distributing and monitoring
digital contracts
Storing completed contracts
Retrieving completed contracts
Electronic signature enabler
Authentication
Workflow engine
Contract routing
Business rules
Supporting documentation
Rapid integration engine
Hosted Software-as-a-Service
(SaaS) architecture
Front-end integration
CRM integration
Web-site integration
Summary
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3. Recombo | White Paper 1
What is “contract management
software” and how does it
differ from “e-signature”
technology?
E-signature technology enables users to
place a digital signature onto a contract. The
capability is certainly a component of improved
efficiency — but it is just a start. A complete
contract management software system eliminates
waste by automating the entire workflow. The
significant technical break-through is that it
enables users to control not just contract images,
but also the data elements within the contracts.
The ability to manage at the data level opens up
new automation possibilities. For example, you
can import and populate contracts from a variety
of sources (Customer Relationship Management,
Sales Force Automation, Excel spreadsheets, ERP
systems, etc.), move the data into other contracts
relevant to the particular transaction, verify
data-entry at the time contracts are filled-in, map
contract data fields into internal systems, and
much more.
Business contracts are the foundation upon which businesses are built — whether they are legally binding terms and conditions between business partners,
customers and suppliers, exchanges of promises between internal departments, new employees and employers, or informal approvals.
Often individuals or entire departments are dedicated to administering contract workflow — creating, publishing, routing to signatories, data-correcting, filing
and retrieving paperwork. The accepted paradigm — paper-based contract workflow — is a waste of resources. It is clumsy, time-consuming and expensive. By
automating your contract workflow process, you not only reduce your carbon foot-print, but also realize the cost and time savings in eliminating paper from the
process. This white paper highlights strategies and best practices for you to optimize your contract workflow that includes creating, distributing, signing, storing
and retrieving business contracts for the purpose of maximizing financial and operational performance.
Is contract management
software right for you?
The benefit of contract management software is
to drive down costs by automating the repeatable
aspects of creating, distributing, signing and storing
paperwork. It is not well-suited for processes
where the bulk of the time is spent negotiating
the terms of the contract and where the sign-off
process is simple. Two examples of this are
mergers and acquisitions or settlement contracts.
Contract management software is best suited
for organizations with high volumes of similar
transactions with a complex signatory routing
process. The case study used in this white paper
deals with insurance application forms, but there
are innumerable situations where automation
can quickly eliminate wasted resources. Some
examples of this are: securities broker new
account openings, employee pay stubs and
benefits statements, account transfer forms,
merchant card service on-boarding, and so on.
“...But Automating Workflows
Delivers The Value. The
signing process is the keystone
of the execution of a legally
or administratively binding
agreement. However, as central
as it is, the signature itself is only
one part of the overall document
or business process life cycle;
the true value to an organization
lies in replacing all paper-based
processes with electronic ones
and securely automating as many
previously manual steps and
procedures as possible.
”Forrester Research, Inc.
January, 2010
Market Overview: E-Signatures in 2010
Automate your contract workflows - save time
and money
4. Recombo | White Paper 2
Why are companies
transitioning from paper
to contract management
software?
A paper-based contract life-cycle process is
clumsy, time-consuming and costly. It requires
human labor to create, arrange for distribution,
follow-up with signatories, error-check, file and
retrieve. It is prone to errors every step of the
way, often uses expensive, time-consuming courier
or mail services, and offers little control over the
status of distributed contracts — have signatories
received them? Have they looked at them yet? Are
they lost in transit? Or is the signatory shopping
around for a better deal with a competitor?
Contract management software optimizes every
step of the process from contract creation,
through distribution, completion, and application
of business rules, to filing and retrieval. It improves
profit and cash flow by dramatically reducing the
number of people required to administer contracts
and by speeding up the approval process. To
understand how organizations are benefiting from
this advancement in digital technology, we need
to take a closer look at each step of the contract
workflow process.
Paper consumption is costly to the environment;
it makes up the largest component of solid waste
by weight. In the U.S. alone, over 40% of municipal
solid waste is paper — about 71.8 million tons each
year; enough to build a 12-foot high wall from New
York to California.
The process of producing paper requires huge
amounts of water and electricity. To make paper
white, it is bleached; the most common bleaching
agent is chlorine that can find its way into our
waterways. The plastic from toner cartridges
discarded into landfills takes more than 1000 years
to decompose.
Ninety-five percent of business information is
still stored on paper…
There are some options for organizations that wish
to make environmentally friendlier choices:
Recycle your paper. Recycling 1 short-ton (0.91 t)
of paper saves:
17 mature trees•
7 thousand US gallons (26 m3) of water•
3 cubic yards (2.3 m3) of landfill space•
2 barrels of oil (84 US gal or 320 l)•
4,100 kilowatt-hours (15 GJ) of electricity —•
enough energy to power the average American
home for six months (Wikipedia).
Choose totally chlorine-free (TCF) paper. This
is environmentally preferable to “elementally
chlorine-free” (ECF) paper, which is bleached with
chlorine derivatives that produce toxic chlorinated
compounds. There are also many websites that
offer information on this type of paper; Google
search “totally chlorine-free paper vendors” to
learn more about this type of paper.
Recycle toner cartridges. Many retailers who sell
toner may offer a trade-in value for a new one.
There are also many websites that offer cash for
used cartridges; search for keyword “recycle toner
cartridges” to learn more.
Reduce your use of paper. The most
environmentally sound decision is to use less
paper. Digital agreement workflow technology
offers the opportunity to drive costs down and
increase productivity, while making a lighter
environmental impact.
The toxic impact of paper on our global environment
5. Recombo | White Paper 3
Step one: Contract preparation
The first step is to create a contract. Using a
desktop word-processing solution (Word, Google
docs, PDF, etc.), an administrator populates the
contract with relevant data for each transaction,
such as names, dates, dollar values, and so on. This
is time-consuming, expensive and susceptible to
data-entry errors.
Contract management software reduces the
possibility of errors, by enforcing rules about the
format and type of data that is entered into each
field. Furthermore, it is no longer necessary to
manually enter data. Costs can be driven down by:
Automatically populating contracts with data•
from internal systems such as Customer
Relationship Management (CRM), Sales Force
Automation (SFA), Enterprise Resource
Planning (ERP), and others.
Integrating contracts with web sites offers two•
benefits. The first, is that it enables customers
to enter data into contracts in a self-serve
model. This effectively eliminates internal
data-entry costs. The second, is that integrating
contracts into web sites provides signatories
with a guided form-filling process. This is
important for revenue-centric contracts where
the customer experience is critical in keeping
abandonment rates as low as possible.
Business contracts often require follow-on
documents that need to be signed. Insurance
application forms may require an authorization
for the individual to submit to a medical test, an
authorization to take automated withdrawals from
the bank, a void check, and other documents.
These need to be assembled into a package and
prepared for distribution — usually by standard
mail or courier.
Contract workflow management has the ability
to package together the relevant forms and
contracts, capture data once, automatically
populate relevant contracts, and instantly
distribute them on-line or via e-mail. This drives
distribution costs down and eliminates errors.
Step two: Distribute the
contracts
Shipping paper has a number of shortcomings:
Costly: Arranging for distribution, couriers, mail,•
and so on.
Slow-moving: Physically shipping paper to and•
from signatories, chasing signatories to correct
errors, and supply supporting documentation,
and so on.
Contracts distributed by courier, e-mail or fax
have the additional problem of lost visibility.
Once contracts are sent, the publisher has no
idea of their status. Are they in transit to or
from signatories? Are they sitting unsigned on
someone’s desk? Or has the prospect moved on to
a competitor?
Contract management software eliminates
distribution costs, and accelerates completion
rates. It provides visibility into every step of the
process, so bottlenecks can be identified and the
appropriate action taken.
Step three: Business process
— route the contracts
Many companies in industries such as merchant
card services, securities brokerages, insurance
brokers, etc., publish high volumes of contracts
every week. Manually routing contracts to the
correct signatories, in the correct order, and
re-directing as required, by any other business rule
is labor-intensive.
Routing
Imagine an insurance broker accepting new
applications. First, applicant information has to
be completed; it goes to the broker for error-
checking, then on to the underwriter for approval,
then back to the individual for final sign-off. At this
point, a number of supporting documents — void
check, automatic withdrawal approval, and so on,
must be attached. Then the package goes to the
broker for storage with a copy to the underwriter.
All this routing uses up valuable human resources
and is prone to error. Contract management
software automates this entire process — not only
driving the human resource cost down, but also
providing a superior customer experience that
helps to reduce the number of transactions that
are abandoned.
Business flow rules
Contract routing can be further complicated
by business rules. For example, the insurance
application may go to an internal employee with
a pricing matrix, but if the characteristics of the
individual are out of the norm, the application
may need to go to a different department for
special pricing.
Once again, this causes unnecessary costs and
delays in processing the application. Contract
management software reduces costs by automating
the process.
6. Recombo | White Paper 4
Step four: Correct errors
In the middle of the routing process, contracts can
get bottlenecked when the client returns them
with incorrect or missing information.
Contract management software can:
a) Enforce rules on data fields to ensure they are
completed correctly, and
b) Ensure that correct supporting documentation
is present and included with the package.
Step five: Store the
contracts
Does your company consider contracts to be
a critical business asset? Do you know where
specific contracts are at this moment? Storing
paper contracts makes them susceptible to
misplacement, wandering eyes, loss, or even theft.
Digital contracts are never lost, can be easily
secured, and are always available. Furthermore,
completed contracts or the data fields within the
contracts can be automatically mapped and stored
in back-office systems.
Step six: Retrieve the
contracts
It is inevitable that completed contracts will need
to be retrieved. Paper contracts have limited
indexing options, which can make it cumbersome
or even unrealistic to compile reports. An
equipment leasing company may choose to file
contracts alphabetically by customer. This causes a
problem when the leasing firm wants to assemble
a group of leases signed between a certain date
range, asset type, or risk category.
Managing data within contracts is a paradigm
shift, that offers unlimited file-indexing options.
Users can retrieve individual or groups of
contracts by any data variable within the contracts
such as names, dates, dollar amounts, addresses,
signatories, and more; or by characteristics such
as published, viewed, completed, contract creator,
publisher, and more.
7. Recombo | White Paper 5
Businesses exist to grow profits. Regardless of how well a new technology improves a business process, the decision to implement it must be justified by a
significant positive impact to the bottom line.
Return on investment — Insurance broker case study
For the purposes of analysis, this section uses the
following case study:
Company type: insurance broker•
Agreement project: individual insurance;•
new applications
Volume: 300 applications per month; 3,600•
per year.
Number of insurance applications per year 3,600
Employee cost per hour $20
Time of labor to enter data in to contracts (minutes per contract) 20 minutes $6.67
TOTAL COSTS OF DATA-ENTRY $24,000
Process improvement
calculations
Data-entry cost
Assuming that each insurance application takes
a data-entry administrator twenty minutes and
labor expense is twenty dollars per hour, the total
annual cost of this activity is $24,000 per year.
Contract management software has three levels
of data-entry options, each with greater levels of
automation:
Using the technology natively, employees can1.
rapidly fill-in a pre-built contract template.
Via integration with internal software2.
systems such as Customer Relationship
Management (CRM) or Sales Force
Automation (SFA), contracts can be
populated by a single click.
The technology can also be integrated with3.
web sites so that data-entry can be off-
loaded to external signatories (customers,
partners, and so on) effectively eliminating
data-entry cost.
8. Recombo | White Paper 6
Distribution cost
The two costs associated with distributing paper
contracts are labor and shipping. Assuming 75%
of these insurance contracts are shipped via
standard mail, 10% by courier and the remaining
by fax and e-mail, the total cost of distribution is
$18,165 annually.
Contract management software distributes
contracts via e-mail, completely eliminating
courier and standard mail costs. Additionally, the
technology can be integrated with web sites and
other internal software systems to automate
the distribution of contracts without using any
labor. In our insurance example, customers fill-in
applications on-line and click “send” when they
are completed. The contract is then automatically
launched into the signature routing workflow.
Distribution
(%)
Distribution
(# of docs)
Admin time
(min.)
Admin
costs
Shipping
cost
Shipping
extended
E-mailed 10% 360 5 $600 $0 $0
Faxed 5% 180 5 $300 $0 $0
Standard mail 75% 2,700 10 $9,000 $0.75 $2,025
Courier 10% 360 10 $1,200 $14 $5,040
100% 3,600 $11,100 $7,065
TOTAL
DISTRIBUTION
COSTS
$18,165
Data error-checking cost
After the insurance application forms have been
completed, a percentage will have missing or
incomplete information (either data errors in the
application, or missing supporting documentation,
such as void checks or bank statements). Assuming
that 25% need to be error-checked and each
contract takes thirty minutes to check, chase down
signatories, and secure corrections and supporting
documentation, the cost of this task is $9,000
annually.
Number of insurance applications per year 3,600
Percentage of returned contracts that require error-checking 25%
Amount of error-checking time per contract (minutes) 30
Employee hourly rate $20
TOTAL COSTS OF ERROR-CHECKING $9,000
Contract workflow management provides data
error-control in two important ways:
The data fields (dates, amounts, text,1.
signatures, and so on) are very much like
fields in a database. You can assign data-
entry rules to them ensuring contracts are
filled-in correctly.
You can set up the contract management2.
software system to enforce rules for
supporting documentation.
The combination of these two features effectively
cuts data error-checking costs to zero.
9. Recombo | White Paper 7
Filing and retrieval cost
Once the insurance contracts have been
completed and error-checked, they need to be
filed. Furthermore, once they are filed, a portion
will invariably need to be retrieved at some point.
We estimate filing and retrieval costs to be $8,400
per year.
There are a number of filing options with contract
management software:
By default, contracts are automatically filed1.
on the platform.
Contracts can be automatically filed in,2.
internal back-office systems and deleted
from the platform.
Contracts can be maintained in both the3.
platform and internal back-office systems
(the platform thereby effectively acting as
back-up).
Digital contracts are always available and secure.
They can be retrieved instantly by:
Internal data element(s) in the contract(s) such•
as: signatory names, dates, amounts, percent-
ages, etc.
Meta-data associated with the contract(s)• such
as: publisher names, published status (opened,
unopened, signed), publication date, etc.
Number of insurance applications per year 3,600
Employee hourly rate $20
Average time to file contracts (minutes) 5 $1.67
Percentage of contracts needing to be filed 100% 3,600
$6,000
Percentage of contracts needing to be retrieved 20% 720
Average time to retrieve 10 $3.33
$2,400
TOTAL FILING AND RETRIEVING COSTS $8,400
10. Recombo | White Paper 8
Abandoned documents
Contract management software helps improve
close rates in three important ways:
Immediacy.1. There is no waiting for
documents to arrive. Once the data is filled-in,
signatories receive them instantly. For
competitive markets like insurance, securities,
and merchant card services, this enables sales
people to close new accounts quickly.
Visibility.2. Unlike paper documents that
go into a black hole once they have been
distributed, digital documents are always
visible. As a result, sales people know when
to make calls to ensure the documents
get signed.
Number of deals quoted per year 3,600
Percent of abandoned deals 3%
Number of abandoned deals 108
Potential decrease in abandoned deals with contract management software 30%
Potential additional deals 32
Value of abandoned deal $850
TOTAL OPPORTUNITY COST OF ABANDONED DEALS $27,540
The bottom line
In our example, the combined cost to complete
each application form is $16.54 for a total of
$59,565 per year. Add to this $27,540 annual
revenue loss of abandoned applications, brings the
total paper-based cost to $87,105 annually.
Improved customer experience.3. By
integrating with web sites, signatories can
be guided through the form-filling process,
making it effortless to quickly complete
a document.
Let’s assume a 3% abandonment rate, and a value
of $840 for each completed contract. Let’s also
assume that more visibility and immediacy into
the status of contracts coupled with a superior
customer experience can improve this number
by 30%. The opportunity cost will therefore be
$27,540 annually.
If we assume the annual cost of contract
management software for this project is
approximately $20,000, the total annual savings
for the insurance broker is $67,105 — a 335%
return on investment. For organizations that
pay per contract for their contract management
software system — the broker pays $5.55 per
contract as opposed to the current $16.54 — an
immediate 66% reduction.
Total Per
contract
TOTAL ANNUAL OPPORTUNITY COST FROM PAPER CONTRACTS $27,540
TOTAL ANNUAL COSTS OF YOUR PAPER CONTRACTS $59,565 $16.54
$87,105
“Cost And Flexibility Needs Are
Shaping The Market. Broadly
speaking, realizing cost savings
by eliminating the need to use,
handle, and process paper and
using the Web to speed up the
process of acquiring customers
and closing business are the two
main reasons that e-signature
adoption has significantly
accelerated in recent years.
”Forrester Research, Inc.
January, 2010
Market Overview: E-Signatures in 2010
11. Recombo | White Paper 9
Contract handling
At the most fundamental level, Agreement
Express enables organizations to efficiently
manage contracts as they flow through each
step required to move contracts through the
approvals cycle: create, distribute, route, store
and retrieve.
Creating digital contracts
Contracts (insurance application forms, employee
offer letters, pay stubs, merchant on-boarding
applications, etc.) are typically created with
desktop publishing software such as Word,
PowerPoint, Excel, PDF, Google docs, etc. Once
a contract has been created, it can be easily
transformed into a fully-interactive digital contract
in two ways:
Browse for it on the desktop and upload directly•
to Agreement Express.
Use the Agreement Express Connector to•
upload it from the print menu in any of the
above mentioned desktop publishing
software applications.
Once the contract has been loaded into Agreement
Express, data elements such as dates, names,
amounts, percentages, text, formulas and signature
blocks, can be easily dragged-and-dropped to the
appropriate locations in the contract.
Distributing and monitoring digital
contracts
Agreement Express documents are maintained at
all times on centrally hosted servers in bank-grade
secure facilities. When contracts are ready for
signing, the various signatories are invited by e-mail
to click a URL to review and sign them online.
Before signatories can sign an contract, they are
first authenticated using a method determined by
the contract publisher (see the following section for
more details on authentication options).
From the Agreement Express dashboard, contract
administrators can visually monitor the status of
contracts — which signatories have not yet opened
their contracts, who has viewed but not signed, and
who has completed the contracts.
Agreement Express by Recombo™ lets you rapidly automate the life cycle of your contracts, saving you time and money. You can implement Agreement
Express in a week or less, to realize significant improvements in productivity. Agreement Express drives down your labor and distribution costs and delivers a
return on investment in weeks, rather than years. It reduces or even eliminates labor costs across the entire contract life cycle process – preparing, distributing,
routing, signing, error-checking, storing and retrieving. Agreement Express makes forms easy to complete, reducing abandonment rates, and helping you close
more business.
Agreement Express’ combination of four key elements make it an evolutionary leap forward in contract workflow automation: efficient contract handling,
best-of-breed digital signature technology, robust workflow automation, and a rapid integration engine.
“In today’s highly-competitive debt
settlement arena, it is an essential
service to expedite the signing of
agreements in a timely fashion. I
would rank Agreement Express
as the #2 most prioritized
software application our sales
folks use (after our own
CRM) today.
” Steve Kwan
Marketing & Project Manager
Freedom Financial Network, LLC
Agreement Express by Recombo™ — The Fastest Way
to Automate Your Contract Workflows - Saving You
Time & Money
12. Recombo | White Paper 10
Storing completed contracts
By default, contracts are stored on Agreement
Express’ servers. They can also be downloaded
to the desktop or automatically routed into back-
office systems.
Retrieving completed contracts
Unlike traditional contracts that have limited
indexing options — typically contract name, date
saved, and type, Agreement Express enables users
to manage contracts at the data level. Individual
or groups of contracts can be rapidly retrieved
from the Agreement Express server by any
characteristic of the contract: contract type, date
range, dollar amounts, names, percentages, and
more.
Electronic signature
enabler
Agreement Express is designed to optimize
contract workflows that need formal or
informal approval. Approvals usually (although
not always) require a signature. As such,
Agreement Express includes best-of-breed
digital signature technology.
Authentication
When contracts are published, the various
signatories receive an e-mail with a web link that
connects them to the appropriate contracts. Each
signatory is authenticated by one of the following
methods that can either be third-party validated or
company attested:
“Password-based”• is for contracts with
low-sensitivity or the signatories are well-known
to each other. Authentication can be set to a
simple password.
“Wallet-based”• is for contracts with moderate
sensitivity. Prior to logging into Agreement
Express, the signatory is asked a series of ques-
tions, such as driver’s license number, partial
social security number, credit card number, etc..
“Credit based”• is for highly-sensitive contracts.
Prior to logging into Agreement Express, the
signatory is asked a series of questions pertain-
ing to credit history, such as the bank where
you do business, mortgage amounts, monthly
payments, etc.
Additionally, a full audit trail of activity is maintained
for each contract, so that no contract can be
fraudulently altered.
Workflow engine
A paper-based contract workflow wastes
resources. Agreement Express can effortlessly
automate even the most complex contract
workflow. This automation is driven by three
key elements: routing, business rules and
supporting documentation.
Contract routing
One element of automating the approval process
is to ensure that contracts get routed correctly.
For example, contracts such as new account
contracts require information to be filled-out first
by the potential client, then by the company for
quotation, and then back to the client for final
signature. Final copies may need to be sent to
the insurance or securities broker, client and
underwriter, or other partners. Regardless of how
complex the contract routing is, it can be rapidly
automated with Agreement Express.
Business rules
The approval process may require that contracts
be routed by decision-tree business rules. For
instance, a new customer application may contain
a question about payment method. If the customer
chooses “direct withdrawal,” then the automatic
withdrawal contract form needs to be completed
and routed, as required.
Supporting documentation
Contracts often require supporting documentation.
An insurance application will likely require a copy
of a void check. Agreement Express ensures that
upon contract completion, this type of supporting
documentation is uploaded (by fax or scan copy),
and included in the contract package.
13. Recombo | White Paper 11
Rapid integration
engine
Because of its hosted architecture and rapid
integration engine, Agreement Express can be
implemented in a fraction of the time — and at
a dramatically lower cost — than has ever been
possible before.
Hosted Software-as-a-Service
(SaaS) architecture
Unlike traditional software that is installed and
maintained at the customer’s premise, Agreement
Express is hosted at a central location and is
maintained by Recombo. You do not install or
maintain software, you simply click a link and login.
As a result, you can begin to create and distribute
digital contracts soon after you sign-up for
the service
Front-end integration
In addition to manual data-entry, Agreement
Express’ rapid integration engine provides two
automated data-entry options — front-office
integration and web-site integration.
CRM integration
A fast way to populate a contract with accurate
data is via integration with your CRM or SFA.
Rather than populate sales proposals manually,
with SFA integration, sales people simply open
customer records to launch the data-entry process
automatically. For companies who publish large
volumes of contracts, this can have a dramatic affect
on employee costs and efficiency.
Web-site integration
Agreement Express provides a flexible, open
API that enables you to rapidly integrate digital
contracts into web sites. This enables you to improve
the user experience, by providing guided form-filling,
thereby improving contract completion rates.
Additionally, offloading the form-filling process to
external signatories effectively reduces data-entry
costs to zero.
Agreement Express’ integration engine also provides
the capability to store contracts on internal back-
office systems. Users can choose to store completed
contracts on either or both of Recombo’s servers,
and internal back-office systems.
The advantages of storing on Recombo servers
include multi-indexed contract retrieval and
secondary back-up of contracts.
14. Recombo | White Paper 12
SUMMARY
Agreement Express by Recombo™ is the fastest
way to automate contract workflows, enabling
organizations to rapidly tap into immediate
cost-savings. In the past, organizations who wished
to automate their contract workflows had to pay
steep prices to install, maintain and customize
heavy technology. All that has changed with
Agreement Express — an affordable software
service with a rapid integration engine, that
automates contract workflows in less time — than
ever before.
Agreement Express is a registered trademark of
Recombo Inc. All rights reserved.
To learn more about Agreement Express, call
us today at + 1.877.AGREE.XP (247.3397) or
visit us at http://recombo.com