On the heels of our press release last week regarding Mitratech’s entry into the contracts management market, I wanted to further explain the product that was recently awarded PCMag’s Editor’s Choice: GettingContractsDone (GCD). Originally developed as a partnership with the Association of Coporate Counsel (ACC), Mitratech has fully launched GCD as a stand-alone contracts management solution.
According to a recently commissioned third party market survey, U.S. legal departments spend almost $200m a year on contract management solutions, and that market is growing at a rate of 17% each year. When it comes to contract management, every administrator has a “system”. Some use shared drives, Excel spreadsheets, and Outlook folders. Some have a trusty filing cabinet with sticky notes highlighting expiration or renewal dates. However, without a central repository that allows you to easily set alerts for key milestones such as expiration and renewal dates, it’s easy to get sidetracked and have projects or due dates fall through the cracks. GettingContractsDone (GCD) gives you the peace of mind that your contracts remain at your fingertips for ease of collaboration, approvals, and reporting.
“With Mitratech’s increased investment in GCD, we are able to expand on our mission to enable legal departments to be the best-run function in their organization by now offering a best-in-class contract management solution to those small and mid-sized legal departments that need a simple and cost-effective solution to generating, executing, and storing contracts,” said Mitratech CEO Jason Parkman.
While enterprise legal management is almost exclusively used by legal departments, contracts management solutions could be desirable for any part of an organization charged with generating and processing repetitive contracts. In fact, there are many situations where our clients have elected to utilize GCD for contract processing in addition to one of our ELM solutions for contract organization, reporting, and workflow processes.
To learn more, visit http://www.gcd-gettingcontractsdone.com/