As demographic and funding trends continue to pose significant challenges, it is no surprise that universities and educational institutions are focused on containing and reducing costs. Improving organizational effectiveness campus-wide will reduce costs throughout the university.
A majority of universities do not have a system in place to manage contracts and agreements. Departments within the institution are isolated from information which hinders the efficiency of the contract management process. According to the Aberdeen Group, implementing a contract management system will provide a centralized solution that will allow for collaboration between internal parties, efficient workflow, and improved visibility.
iContracts Universal Contract Manager (UCM) streamlines the process of contract and compliance management for educational institutions. UCM helps institutions manage a wide variety of contracts and agreements including speaker agreements, supply chain contracts, vendor agreements, building leases, elevator certificates, IT contracts and much more. Search and locate contracts in seconds, track the terms of your agreements, set up automated reminders for key milestones, store all contracts electronically in a central repository, generate customized reports and most importantly collaborate between departments.