Intelligent document generation platform DocFusion and the all-in-one governance solution ContractZen have recently announced that both solutions seamlessly integrate. This collaboration merges automated rules-based content creation capabilities with a metadata-driven contract management service. This enables businesses to speed up agreement and compliance processes.
Despite growing investments in digital transformation, 70% of today’s business processes are paper based. Conventionally, most companies rely on modifying templates or older documents which are stored in random places in different versions. This tedious process can lead to contract errors which cost companies significantly. For example, a misplaced decimal point in a contract can cost a company millions.
In today’s remote-working business landscape, it is crucial for companies to be able to rely on error-free documents.
The integrated solution makes it possible for companies to rapidly generate all business contracts. Users can create their own templates and identify which portions are dynamic by using drag and drop functionality.
Corporate governance issues are addressed through the enterprise-grade contract management features allowing parties to create, collaborate, sign, and monitor contracts and agreements over the cloud. The solution allows documents to be tagged to improve searchability with the use of metadata.
By leveraging DocFusion and ContractZen, companies can effectively streamline and automate all stages of contract management. By drawing from standard templates, the contracts are guaranteed to be relevant, legal and compliant.
Once both parties to an agreement sign the contract digitally, the document is stored and managed securely. Notifications can be set to alert staff members should there be any time-bound conditions that have to be enforced.
The combined solution is fully digital and closes the loop between the functionality of robotic process automation, process automation, digital signatures and automated document management.
Ernest Kleynhans, DocFusion CEO regards the solution as ”transforming contract generation and processing into a seamless error free experience".
“We are excited to partner with DocFusion, the pioneer in document generation and automation”, says Markus Mikola, CEO of ContractZen. "Together we are able to offer our customers visionary solutions for contract creation and management to help them survive and thrive in today's challenging business environment."
DocFusion automates content creation for companies through its dynamic template-driven document composition and automation engine. DocFusion was founded in 2006 and has offices in New York City, USA and Johannesburg, South Africa.
For more information on the cloud service, visit: https://www.docfusioncloud.com/
ContractZen is a Finnish cloud technology company founded in 2014. The all-in-one SaaS solution includes metadata-driven contract management, all-digital meeting management, virtual data rooms (VDR), secure e-signatures, and more. The company has customers in over 30 countries and offices in Helsinki, Finland and Palo Alto, USA.
For more information, visit: https://www.contractzen.com/
ContractZen and DocFusion demo: