Cloud Based Contract Management - What To Look For

Cloud systems are fast becoming popular with businesses across the world because of their cost and time cutting services. Cloud vendors (Google, Amazon etc) upload a host of applications onto their clouds and when users connect to the service remotely, these applications are available for instant use - saving the user the time and money it would usually cost to install such applications on their own device.

This article explains the advantages of using cloud systems, how you can use cloud systems when it comes to contract management and finally, what to look out for in terms of risk.

What to look out for

By uploading files to the cloud, the cloud provider inevitably has access to those files. It's basically a trust issue - if you read the terms and conditions of your cloud provider, they should state what they can and cannot do with your files. Encrypting these particular documents may help.

Note: The majority of cloud providers do not have a hidden agenda to read your documents, they're simply running a genuine service and want to uphold a solid reputation.

If your cloud provider goes down for whatever reason, then your saved files are inaccessible. The age-old point made earlier about backing your files up to disc is the best solution to this problem.

The firewalls installed on your machine(s) are no longer relevant. Again, this is a trust issue. If a cloud provider does not have sufficient protection then your work could be vulnerable to attack from hackers.

Some vendors offer different service packages or a pay-as-you go service. Analyse which is the best for you. When taking up the pay-as-you go option be careful to not leave your cloud account open as you work on other programmes throughout the day, as you could be charged by the hour. Log on and off religiously - this also protects your account from being accessed by someone else when you go on your dinner break!

Five ways in which the tools aid contract management

Alongside the things to look out for with cloud-based contract management, there are also tools that go to show how effective this form of management is. Five big ones include:

• Lower sale cycles - with the paper trail eliminated, turnaround time increases.

• Increase customer loyalty - faster service = happier customer.

• Cut work time - no need for writing contracts, faxing them out and signing.

• More information - easier for everyone to see the contract and what it means.

• Proper ROI - rapid, effective and legal.

Seeking for cloud computing Singapore, call Alenu IT Today! at (65) 6884 5030