{"id":14489,"date":"2024-06-07T09:43:51","date_gmt":"2024-06-07T08:43:51","guid":{"rendered":"https:\/\/sharecontrol.io\/uncategorized\/solution-for-contract-management-in-microsoft-365\/"},"modified":"2025-02-25T10:25:22","modified_gmt":"2025-02-25T09:25:22","slug":"contract-management-in-microsoft-365","status":"publish","type":"post","link":"https:\/\/sharecontrol.io\/en\/contract-management\/contract-management-in-microsoft-365\/","title":{"rendered":"Contract Management in Microsoft 365"},"content":{"rendered":"\n

Did you know that on average 9.2% of annual income is lost due to mismanagement in contracts?1<\/a><\/sup> Good control and management is therefore essential to ensure efficient and secure contract management<\/a>. Reports from the Journal of Contract Management also show that 71% of businesses do not find every ninth contract as a result of poor contract management2<\/a><\/sup>. In this article, you can read what benefits contract management in Microsoft 365 has for businesses.<\/p>\n\n\n\n

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Advantages of Microsoft 365 for Contract Management<\/h2>\n\n\n

In today’s dynamic business environment, effective contract management<\/a> is essential to ensure agreements are fulfilled and risks are minimized. By implementing contract management on Microsoft 365<\/a>, organizations can benefit from a range of advanced features and integrations that improve both the security and efficiency of contract management.<\/p>\n\n\n\n

With the possibility of seamless integration to a number of tools, this not only provides better functionality, you also get an intuitive user experience in handling your contracts Employees can work in familiar environments, which reduces the need for training and increases productivity. Overall, Microsoft 365 provides a comprehensive and secure contract management platform that can help organizations achieve better control, visibility and efficiency in their contract management.<\/p>\n\n\n\n

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Data storage<\/h3>\n\n\n

Data storage in the ShareControl Contract<\/a> is designed to be both secure and user-friendly by leveraging the power of Microsoft 365 and SharePoint. All contract data is stored centrally in SharePoint, which provides a structured and easily accessible database for all your agreements. This centralized storage system ensures that all documents are organized in a logical manner, leading to improved searchability and reducing time spent locating specific contracts.<\/p>\n\n\n\n

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Companies with 1,000 employees spend about $2.5-3.5 million to search for or recreate lost documents.<\/p>\nProcurement Tactics “Contract Management Statistics 2024 – 55 Key Figures”<\/a><\/cite><\/blockquote>\n\n\n\n

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Security from Microsoft<\/h3>\n\n\n

By adopting Microsoft 365 for digital contract management<\/a>, organizations can gain a number of benefits that can improve the efficiency and security of any business. The platform offers advanced security features such as two-factor authentication, data encryption and regular security updates that protect sensitive contract data against unauthorized access and potential cyber threats. Microsoft 365 is also designed to comply with global privacy and security standards, including GDPR, ensuring your organization’s data handling is legally secure.<\/p>\n\n\n\n

Security is a cornerstone of Microsoft 365, and this is especially true for contract management. With ShareControl Contract integrated into Microsoft 365, you can be sure that your contracts will not disappear. The platform offers comprehensive data protection mechanisms such as regular backups and data encryption. These features ensure that the contracts are always available and protected, whether due to technical failures or cyber threats.<\/p>\n\n\n\n

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\"Kontraktsh\u00e5ndtering<\/figure><\/div>\n\n\n\n
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Security from Microsoft<\/h4>\n\n\n

Security is a critical factor in contract management because contracts often contain sensitive and confidential information that can have significant financial and legal consequences if compromised. Unauthorized access to contracts can lead to data leaks, financial losses and damage to the company’s reputation.<\/p>\n\n\n\n

Furthermore, failure to comply with privacy and security standards, such as GDPR, can result in severe fines and legal sanctions. Ensuring that contract data is protected from cyber-attacks and unauthorized access is therefore essential to maintaining the integrity and reliability of business agreements.<\/p>\n\n\n

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Download guide for Contract Management<\/mark><\/h3>\n\n\n

Get an insight into all the functions and processes that can help you with the handling of contracts. We have created a guide on how you can benefit from a dedicated contract management system.<\/p>\n\n\n\n

Download<\/span><\/path><\/svg><\/span><\/a><\/div>

Get the guide in your inbox<\/h4>\n\n\n
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