"Benefits of using 3rd Party services for Contract Management"

Using 3rd parties to manage your contract management needs can be a key denominator in taking the stress out of contract management. Advantages can be manifold but is most likely to include the following:

  • 3rd party firms have the resources to handle the increased inflow of work and can work as the extended legal arm of the organization.
  • Improvement in overall productivity.
  • Cost efficiencies
  • Reduction in workload of organizations’ staff and reduction in contract cycle
  • Storage of contracts in electronic database which enable easy access and search capabilities.
  • Automated contract summaries.
  • Risk analysis of contract preformed without the need for manual searches.
  • Early warning on missed contracts and renewals

Our offerings in Contract Management Services

  • RFP Reviews:
    1. Identification of terms which deviate from standard.
    2. Contract review based on standard agreements and clause library.
  • Contract User Retrieval and Analysis:
    1. Preparation of contract summaries, indexing and abstraction.
  • Contract Administration:
    1. Tracking and summarization of contractual obligations.
    2. Contract research and analysis – governance, revenue recognition, etc.
    3. Contract health reviews.

Why Lex Process

  • ISO 27001 certified and HIPAA compliant
  • Qualified and Experienced team with a high level of skill and expertise in their domain
  • Quality checks to ensure high quality delivery
  • Responsive with quick turnaround times
  • Customized, Cost efficient solutions
  • Better manage your workload (owing to seasonal demands)
  • Complement and/ or Supplement your workforce needs
  • Dedicated client relations team for seamless communication and interactions so we better understand your needs