Contract Negotiation Portal

The Novatus Online, Secure, Contract Negotiation Portal

Based on more than a decade of experience in the contract management space and our close working relationship with a major financial institution who is launching this Portal, Novatus is very pleased to announce our cloud contracting solution which provides an online secure space to negotiate buy side, sell side, and multi-party deals!

Novatus meets the complex challenges contracting and legal professionals face with the release of the secure Novatus Online Contract Negotiation Portal.   The Portal is a highly secure online collaborative workspace that provides secure access for buyer and seller to invite participates to a contract negotiation, much like online reverse auctions or sourcing events.   As part of a paper-less solution, the Portal enables users to transition to a fully electronic environment with dramatic improvements in security, efficiency and visibility, while shrinking the contracting cycle.    The Novatus Online Contract Negotiation Portal is also fully integrated into the DocuSign electronic signature solution to provide electronic signature capability.

How does your organization currently facilitate the negotiation of your contracts between your internal stakeholders and external parties?

Chances are, your negotiators, legal teams and executives rely heavily upon word processing software and email to draft agreements, make redlines, control versions, manage communications and share and merge numerous contract versions between the all the internal and external parties involved in the negotiation process.  While this is the current, industry-accepted practice, it is rife with inefficiencies and control gaps that often limit the effectiveness of your negotiating teams while introducing unnecessary risks.  Consider the following:

1. 1.  Word-processing software alone lacks the capabilities and controls needed to effectively manage complex contract negotiations.
2. 2.  Email is effective at delivering contract documents between parties, but can quickly become difficult to manage, with numerous versions of documents floating around between the parties. 
3. 3.  The buyer and seller lose visibility to the most current version of the contractual documents once they are emailed out to the counter-parties for review. 
4. 4.  Your buyers and sellers are left waiting for the contract documents to be    returned via email for the next round of reviews.
5. 5.  Executed contracts have to be manually uploaded and entered on the corporate network drive or into the contract management database.

The Novatus Online, Secure, Contract Negotiation Portal solves these complex contracting issues by providing the following key advantages for our diverse users across the buy and sell side. 

1. 1. Users can choose to create contracts from their Novatus Contracts system using their MSWORD based templates OR simply upload the counter-party contract document to the Portal for negotiation.
2. 2. Once the contract negotiation event has started, your administrators send secure invitations out to the participants enabling the attendees to “check in and check out” the contract documents for review, redline and negotiation.
3. 3. The Novatus Portal provides automated email notifications to deal participants enabling them to click a secure link from the email to access their active deal in negotiation.
4. 4. The Portal provides full version control enabling negotiators to ensure they are always working with the latest version of the contract documents.
5. 5. Approved buyer and seller participants (and your key executives) always have visibility to the current version of all contractual documents (Master, Schedule, Exhibits, etc.) by simply logging into the Portal.
6. 6. Executed contracts are automatically moved to the Novatus Contracts repository for full contract and compliance management.

The Novatus Portal is perfect for companies who are seeking solutions that are eco-friendly, provide direct cost savings, increase profits by shrinking the deal cycle time, and reduce risk by providing substantial improvements in corporate controls