Electool's Contract Management Solution enables enterprises to create, store, edit and manage any type of business contract and to ensure transaction compliance for the terms agreed to in those contracts.

The solution is centered on a dynamic and flexible central repository allowing easy storage, retrieval and information management (terms, clauses, attachments, amendments, etc.).

Contract and Obligation Management - Improve productivity and contract consistency by automating the contract management lifecycle and ensuring fulfillment of contract obligations such as dates, events, commitments and payments.

With ContractTool you can:

• Increase revenue and reduce costs by alerting you to pending contract renewals and expirations
• Reduce time, cost and risk of legal exposure associated with contract inaccuracies and associated penalties
• Enable collaborative authoring of terms sheets and proposals with all required internal parties via online workflow and role-based access
• Ensure adherence to sales and purchase approval processes
• Automate the evaluation of trading partner's adherence to terms and conditions of contractual obligations
• Enforce a best practice approach to contract creation.

Compliance Management - Hard return on investment is achieved through contract transaction compliance. Realize profitability improvements by reducing transactions that do not match contract terms.

With Electool ContactTool you can:

• Monitor and analyze root-cause to improve corporate performance
• Manage discounts by monitoring purchases/sales against commitments
• Reduce legal exposure to contract inaccuracies and associated penalties
• Reduce "maverick" procurement and sales orders by ensuring all transactions are tied back to the contract
• Reduce overpayments on non-compliant invoices that don't match contract pricing
• Apply financial controls relevant to Sarbanes-Oxley compliance
• Provide detailed analysis of transactions that are not compliant