Contrax - Scadea

Contrax - Contract Management System

Draft, Negotiate and Execute contracts instantly using Contrax

What is Scadea Contrax

Contract Management System

Contract management software is designed to help service providers, lawyers and other professionals to create, negotiate, renew, and collect data on existing business contracts.
Contract management software is an indispensable tool for ensuring the intent of every contract in your organization is fully realized, and it can maximize a contract’s performance, ensuring the enforcement of commercial terms, accelerating cash flow and time-to-revenue, and reducing the risk of non-compliance.
Contract management platform turns your contracts from static documents into a strategic advantage, giving your company the powerful capabilities, it needs to stay out in front, now and into the future.
This goes beyond contract management software to become contract intelligence. It also works hand in hand with Revenue management system to produce Revenue data pertinent to contracts.
Revenue Management System can be viewed as extension to Contract Management System as both Upstream in terms of Rate Card and Downstream in terms of Resource mapping and Revenue Calculation.

Benefits of SaaS Contrax: Contract Management System

Contract management software makes creating a contract easy and automated

Contract management software makes contract review and approval centralized and completely auditable.

Contract management software connects contract data to the systems and processes they touch (for example CRM, HRMS, RMS).

Contract management software makes contract data easily accessible and actionable via dashboards or any Report Generation tool.

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Simplify the contract lifecycle management process.Realize full-cycle contract management with Scadea Contrax

Features of Contrax Management System

Contract Repository

Having all your contracts stored electronically in a central database is essential to any good contract management system.
Users need quick and easy access to contracts and contract data and will appreciate solutions that give them a variety of ways to view information – at the contract, organization, contact, document, or task level.
Spreadsheets and shared document folders just can’t compete with this kind of flexibility.
In addition, a cloud-based and centralized contract repository ensures you and your team can appropriately access all your contracts and related documents from anywhere on any device which is increasingly critical in today’s world.

Powerful Search Capabilities

Having all your contracts in a central database won’t do you much good if you can’t find anything.
Look for systems that provide search tools like Contract Logix’s full-text search enhanced by automatic optical character recognition (OCR) scanning and indexing of documents and our Quick Search feature.
Simply type whatever you’re looking for in the field – a company name, a legal term, even a word or phrase inside a document – and get fast results, then click to open that record or document.
You can also save those search results to a report or export them to a file, if necessary.
Being able to quickly search for contract-related information is a huge time saver for anyone involved in contract management.

Automated work

Account and Contract follow standard approval process which involves Submission, Rejection, Resubmission and Approval thorough ToDo Task and Completed Task Screen.
These makes User Groups alert and aware about task on hand. Automatic Mail triggering also can be customised as per the Requirement.

Reporting and Dashboards

A contract repository contains a wealth of information, but in order to profit from that data and gain and visualize actionable insights into your contract processes, you need reports and dashboards.
Customizable reports could be generated as per the requirement and also the data can be used or ported to BI environment for actionable insights.

Feature-based Security

A centralized contract repository is essential, but just because all your contracts live together in the same electronic storage location doesn’t mean all users should have equal access to all contracts.
Nor should all users be able to perform the same tasks.
Look for the ability to define your own custom security roles.
A truly flexible system will enable you to configure access and permissions in a variety of ways. Scadea CMS has Creator, Approver and Admin Roles.

Managing Common Contracting Tasks

As an example, Contract Logic has an Amendment menu option (for when some of the original terms, rates, or dates need to be modified) which automatically creates a new copy of the contract and saves the previous version/amendment for reference.
Users can access any version of the contract from the contract list. The key here is ease-of-use and taking the guesswork out of handling everyday tasks.
It’s an excellent way to ensure keep track of contract changes and can be used to maintain an audit trail.

Fast go-live with Low code Customization

AS the CMS is build on the Low Code platform, Any change as per specific Industry or Organization requirement could be implemented or customized in very little turnaround time.

Flexibility in Handling

As of now CMS is build to handle WOs, but additional template could be added to to handle the Bullpen, MSA, NDA or any other type of Contracts

Additional Layering

Usually, The Account is the highest level entity in CMS system under which Contracts are added.
But in Scadea CMS there is an additional layering above the Account to club multiple accounts together for reporting purpose.

What's Inside?

Inside Scadea Contrax

Low Code No Code

Scadea has partnered with Appian to deliver smart business processes and intelligent automation solutions as well as a range of integrated services to help you accelerate your digital transformation. Appian is a low-code development platform that accelerates the construction of high-impact business apps. It can be deployed in the cloud or on-premises, and it is intrinsically mobile-ready. Without the need for data migration, the platform can be used to create new apps from scratch or to connect and enhance old apps that currently exist.

Frequently Asked Questions

What is Rate Card. How to create One?

Rate Card is a Document Containing the list of various Roles & Location combination and their hourly rates. This hourly Rates are basically the rates by which customers are billed. There could be Account specific rate cards which means all SOWs under a particular account will be charged by a particular rate card. There could be SOW/Contract specific rate card which means a Rate card may be valid for a single SOW/Contract and so forth. Rate Cards are created in Revenue Management System but can be accessed from and used in both Revenue and Contract Management System once approved..

What is the relationship between a Contract, an Account and a Client?

Client is the highest order of Entity in Contract Management System Basically Client acts like a Container of Accounts. This means that A Client can have multiple Accounts. And similarly, An Account can have multiple Contracts. Other way around a Contract must be associated with one and only one Account and an Account must have one and only once Client..

Can I Create a Contract under an Account which is in Draft Status?

NO. Contract can be created under an Approved Account only.

If an Account is Approved and there are some changes needed on Address or Phone number for that Account, what should I do?

Account Approver Group has the authority to modify certain fields of an Approved Account. They can add Address/phone numbers too..

If a Contract is Approved and there are some changes needed for that Contract, what should I do?

Neither Approvers nor Creators have authority to change any attributes of an approved Contract. Creators can create a Version of an Approved Contract instead to achieve this goal..

I can create a Contract but how can I measure its revenue?

Revenue (projected & actual) against an Approved Contract can be realized from Revenue Management System..

Why there is no Document upload button in Documents TAB in Contract detail flow?

To enable Document upload (like a signed contract) into a contract even after it is in approved, the Document upload button was kept on the List Contract Screen..

How can I publish a Contract in Word Document and resource demands in Excel sheet?

This feature is in development phase and will be released soon..

How can I delete an Address from Account Address Screen?

Once added and saved address cannot be deleted. But if any address is invalid at current situation, you can mark it as ‘Obsolete’ .

Why is the Role Details section getting reset if I change the Rate Card # in a Contract?

Rate cards are unique. So if the Rate Card # is changed that means the roles pertinent to old rate cards are no longer valid which necessitates the reset of Role Detail section and subsequently all financial calculations..

How can I map resource against the roles in a Contract?

This functionality can be achieved in Revenue Management System..

How can I create different types of Contracts such as NDA, MSA etc.?

Currently Contract Management system can handle only SOW. The development of other types of Contracts are in progress..