Efficient contract management is a fundamental aspect of running a successful trade enterprise, ensuring smooth transactions and minimizing legal risks. Manual contract processing can be time-consuming and error-prone, and it can hinder collaboration with stakeholders. Today, digital solutions are essential to adapt the way contracts are created, managed, and executed to keep up with the demands of a growing market. CerQlar recognized these challenges and developed a cutting-edge Contracting Feature designed to simplify and optimize the contract management process.
Why improving post-trading and settlement is key to your company’s future success? Read more here.
In this blog post, we will explore the functionalities and benefits of contract management on CerQlar and how it can revolutionize the way contracts are managed and executed, taking a significant step toward Straight Through Processing (STP). From on and off-platform contracting options to standardized contract templates, CerQlar empowers businesses to streamline their contract workflows and accelerate trade agreements, bringing them closer to achieving STP.
The ultimate solution for seamless contract management
CerQlar enables businesses to manage contracts both on and off the platform. If your counterparty is also a CerQlar member and uses the PandaDoc document e-signing platform, you can initiate “on-platform contracting”. This streamlines the process, ensuring seamless collaboration and faster execution.
For contracts with entities that are not CerQlar members, CerQlar eliminates the need for signatory selection, making it convenient for businesses engaging with non-CerQlar members. The platform provides visual cues to indicate whether the signatory selection is necessary, ensuring a smooth user experience.
A closer look at CerQlar’s integration with PandaDoc: Enhancing document e-signing for efficient contracting
PandaDoc is a well-established document creation and signing software that ensures a smooth contract execution process. CerQlar’s integration with PandaDoc offers a single template based on the EEC GO Standard Contract v2.2 (an industry standard), allowing users to leverage the benefits of using standardized contracts. This integration ensures consistent contract formats, reducing the risk of errors and misunderstandings.
Understanding contracting with CerQlar: Simplify signatory selection and collaboration
Contracting with CerQlar members offers several benefits, such as enhanced security, easy access to signed documents, and a simplified workflow. CerQlar supports the PandaDoc document e-signing platform, which is renowned for its reliability and efficiency. By leveraging this integration, users can create, send, and manage contracts seamlessly, reducing administrative burdens and minimizing potential delays.
Additionally, CerQlar’s contracting feature takes a significant step towards STP by streamlining the contract management process and minimizing errors. By generating contracts using the same set of data entered in the trade capture, CerQlar ensures data consistency and eliminates the need for manual data entry, reducing the risk of errors and discrepancies. This seamless integration between trade capture and contract generation enhances efficiency and accuracy, bringing businesses closer to achieving STP.
When contracting with non-members, CerQlar’s flexibility allows businesses to engage with partners who might not be using the same platform. The absence of signatory selection simplifies the process while maintaining transparency and data accuracy.
Understand how CerQlar provides a solution for better collaboration and accountability within teams.
Simplify, optimize, and accelerate your contract process
Contract creation can be a time-consuming task, especially when multiple parties are involved. CerQlar simplifies this process by offering users a selection of standard contract templates. By using a single standard template, users can avoid reinventing the wheel for each new trade or counterparty, resulting in significant time savings and faster processing of trade agreements.
Standardized contracts not only save time but also ensure clarity and consistency across all contracts, reducing the chances of misunderstandings and disputes. Both you and your customers can benefit from a streamlined workflow, making contract management more efficient and less prone to errors.
Unleashing efficiency: How CerQlar’s contracting feature transforms your workflow
One of the biggest advantages of CerQlar’s contracting feature is its ability to reduce redundancy and streamline workflows. By automating and standardizing the contract management process, businesses can save time, avoid repetitive tasks, and focus on more strategic aspects of their operations.
With the ability to configure counterparties as CerQlar members or non-members, users have the flexibility to collaborate with other organizations on the platform or those outside the ecosystem. This empowers users to maintain a competitive edge while still enjoying the benefits of streamlined contract management.
CerQlar’s trade approval process applies only when trading with other platform members. In such cases, CerQlar can relay information about the other party’s actions, such as alerting a user when a delivery or payment takes place. This level of transparency enhances trust and enables businesses to make informed decisions based on real-time information.
Discover the power of CerQlar’s contracting feature today
Incorporating CerQlar’s contracting feature into your workflow can bring numerous benefits, including increased efficiency, improved transparency, and reduced administrative burden. By simplifying and optimizing the contract management process, CerQlar empowers businesses to focus on their core competencies and drive growth.
By utilizing CerQlar’s on and off-platform contracting options, visual cues, and standardized contract templates, users can streamline their workflows and accelerate trade agreements. The seamless integration with PandaDoc ensures secure and efficient document e-signing, further enhancing the overall contract management experience.
So, if you’re looking to enhance your contract management process and unlock greater efficiency and collaboration, it’s time to explore the power of CerQlar’s contracting feature.
Find out 7 reasons to embrace an automated GO management platform (instead of Excel) here.
