Tag: Contract Repository

Contract repository software stores all contracts in a centralized location so companies maintain an efficient organization system. As per the American Bar Association, an average Fortune 1000 corporation oversees between 20,000 and 40,000 active contracts at any given time. At least 10% are lost, difficult to discover, or otherwise neglected or poorly maintained. In the past, originals and copies of paper documents were frequently stored in contract repositories. A contract repository is a solution that has several distinct benefits over other records management technologies. 

A secure contract repository is a place - online, in an office, or in an off-site storage facility - where all contracts and agreements are filed and stored securely. While in-office files are traditional, online private contract repositories run by professional contract management companies such as LawInsider are best for security and document retrieval.

A contract repository is a centralized database where an organization stores its contracts. It helps manage the contract portfolio by offering advanced capabilities to keep past and existing documents under a single platform. So, the repository becomes a rich storehouse of data from which the teams can access documents at any time without juggling between files and folders.