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Legal Contract System - Simplifying Contract Lifecycle for Leading Enterprises

A contract management system is an electronic system designed to manage the entire lifecycle of a contract. It enables organizations to create, negotiate, approve, track, and store contracts in one place, allowing for better visibility and control over contractual agreements. Contract management systems help streamline business processes, improve compliance, and mitigate risk. Features can include automated reminders for renewals, expiration dates, and payment deadlines, as well as the ability to crossreference clauses and create custom reports.


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For Us

The challenges we faced while developing the legal contract management tool are:

1. Data integration: Integrating data from multiple sources across different functions and departments was a challenge.

2. Security: Ensuring the security of confidential data and documents was a key focus.

3. User experience: Designing a userfriendly interface that would be easy to navigate and use was essential.

4. Automation: Automating key processes such as contract generation, approval, and tracking was a key goal.

5. Customization: Ensuring that the system could be customized to meet the specific needs of different organizations was a challenge.

6. Compliance: Ensuring that the system adheres to applicable laws and regulations was key.

7. Reporting: Developing a reporting system that could generate detailed analysis and insights was key.

Elevating businesses from legacy contract management processes to modern digital accounting systems is critical for digital transformation.

The Legal Contract System (LCS) is an automated system for managing contracts for Tejas Networks Ltd. The system is designed to streamline the entire contract lifecycle, from contract creation to contract closure. LCS is a comprehensive solution for the entire contract lifecycle that includes the following features:

Contract Drafting & Negotiation: LCS enables users to draft, negotiate and manage contracts quickly and efficiently.

Contract Automation: LCS automates the entire contract lifecycle, from creation to closure.

Contract Tracking: LCS provides users with realtime visibility into all contracts and their progress.

Contract Lifecycle Management: LCS allows users to manage contracts from start to finish, including tracking deadlines, flagging changes, and ensuring compliance.

Contract Analytics & Reporting: LCS provides users with powerful analytics and reporting tools to track contract performance.

Contract Security: LCS ensures that all contracts are secure and compliant with applicable regulations.

LCS is designed to help Tejas Networks Ltd. simplify and manage the entire contract lifecycle, from creation to closure. The system helps streamline and automate the entire process while providing users with real-time visibility into all contracts, their progress, and performance.

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Primary objective of our engagement

The primary objective for Madgeek in developing the legal contract tracking system was to provide transparency to the key decisionmakers. The system was designed to ensure that all stakeholders involved in the process had access to the same information and could easily see the status of a contract or document. The system also enabled stakeholders to track the progress of various contracts, ensuring that nothing was missed. Doing so, allowed for a quick and efficient resolution of any legal matters. Additionally, the system provided an audit trail for all contracts and documents, providing a historical record of all the changes and decisions that were made. Finally, the system allowed for greater collaboration among the stakeholders, enabling them to work together more effectively and efficiently.

From Idea to Design

We, Madgeek were instructed by the then legal head of Tejas Networks to develop the legal contract tracking system as such that the tool can be used for a contract repository and tracking contract-related activities.

We designed the system to include a dashboard that provides an overview of all the contracts, their status, and any upcoming legal activities or deadlines. We also designed the system to allow users to track the progress of each contract and to log any changes, amendments, or updates made to the agreements.

The system also allows users to upload documents related to the contracts, such as signed agreements and amendments. The system also offers a search feature to quickly locate a specific contract or document.

Finally, the system offers a notification feature that sends out email alerts to remind users of important contract activities or deadlines. This feature can be customized to send notifications for any type of contract activity, such as the expiration of an agreement or the receipt of a payment.

From Design to Scalable Solution

We, Madgeek helped Tejas Networks track contractrelated activities through our legal tracking tool. It enabled them to track and manage their contractual obligations, eliminating manual processes and reducing costs.
Our solution gave Tejas Networks a single source of truth for all its contracts, allowing the organization to reduce costs, increase efficiency and compliance, and gain a better understanding of its contractual obligations. It was able to automate the entire contract management process, enabling it to track contract progress and deadlines.
The Madgeek solution also enhanced Tejas Networks visibility into its contract portfolio, making it easier to identify areas of risk and opportunities for improvement. The tool allowed Tejas Networks to quickly respond to contract changes and manage compliance requirements. Additionally, the tool provided insights into performance and cost savings, helping the organization make more informed decisions.
Overall, our solution helped Tejas Networks streamline its contract management process, improve visibility and compliance, and save costs. The team at Tejas Networks were very pleased with the results and continues to use the Madgeek tool for their contract management needs.

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Frequently Asked Questions (FAQs)

Madgeek’s Legal Contract System is an advanced software solution designed to streamline and simplify the entire contract lifecycle for leading enterprises. From contract creation and negotiation to approval, execution, and management, our system offers a comprehensive suite of tools and features that automate and optimize every stage of the process.

Our system addresses a range of challenges commonly faced by enterprises, including inefficiencies in contract creation, lengthy negotiation cycles, version control issues, compliance risks, and difficulties in contract visibility and management.

Our system incorporates advanced features such as customizable approval workflows, centralized contract repositories, automated compliance checks, version control mechanisms, and audit trails, helping enterprises ensure compliance with regulatory requirements, internal policies, and industry standards while mitigating legal and financial risks associated with contract management.

Absolutely, our system is highly scalable and configurable, capable of accommodating the unique needs and complexities of large enterprises with thousands of contracts and diverse stakeholder groups. Whether you’re managing contracts across multiple business units, regions, or languages, our system can scale to support your organization’s growth and evolving requirements.

We offer comprehensive training programs, user guides, online resources, and dedicated support services to help enterprises successfully implement, adopt, and utilize our Legal Contract System. Our team of experts is committed to providing ongoing assistance, troubleshooting, and guidance to ensure that your organization maximizes the value and benefits of our system.

By automating repetitive tasks, standardizing contract templates, facilitating collaboration among stakeholders, providing real-time tracking and notifications, and offering robust reporting and analytics capabilities, our system significantly reduces the time and effort required to create, negotiate, and manage contracts, thus enhancing efficiency and productivity.

Yes, our system is designed to seamlessly integrate with a variety of existing enterprise systems and workflows, including CRM, ERP, document management, and electronic signature platforms, ensuring a smooth and cohesive contract management experience across the organization.

Yes, our system is highly customizable, allowing enterprises to tailor workflows, templates, user roles, permissions, and other settings to align with their specific requirements, business rules, and preferences. Whether you’re in a highly regulated industry, have complex contract structures, or require specialized functionality, our system can be configured to meet your needs.

Our system provides a centralized platform where stakeholders can collaborate in real-time, access relevant documents and information, track changes and updates, communicate securely, and streamline communication channels. Whether you’re working with internal teams, external partners, or legal counsel, our system fosters transparency, accountability, and efficiency throughout the contract lifecycle.

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