Emailing documents back-and-forth during contract negotiation is manual and painful. Luckily, that’s all changing. Redline, markup, vet, whatever you call it, do it all online and directly in the document.
Redlining is part-and-parcel to the process of contract negotiation. However, redlining without a clear ability to track changes throughout the entire negotiation process increases the opportunity for unexpected costs and risk. That’s why Concord is rolling out a next-generation redlining feature—Track Changes.
Contract redlining was previously done by a lengthy process of downloading, editing, uploading, and emailing documents back and-forth. Excess complexity meant details were easily lost in the shuffle. It wasn’t quite the Pony Express, but it was close.
The new Concord redlining feature tracks changes—who edited what and when—the changes made are displayed in different color ink to identify which party made which edits and provide total transparency. This new ability takes Word’s advanced track changes and removes the wash-rinse-repeat fashion of download, edit, email. Maybe you’ve even thought while editing in a Word doc, “This would be so much easier if I could just share this document and we could work off it, online at the same time.” Now you can.
At the pace of business today, your organization may have tens to thousands of contracts in motion at any given time. Antiquated processes that slow business down won’t cut it. The most effective, secure, collaborative way to redline is to do it online, directly in the document. That’s exactly what the new Track Changes feature from Concord does.
What does this mean for your organization?
- Shorter deal cycles
- Faster time-to-revenue
- Increased collaboration
- Version control
- Improved compliance
- More savings
With the new Track Changes feature available from a Concord account, you can:
- Track changes: Make edits in your document, online. Your additions and deletions are highlighted, making it easy for collaborators and external parties to see. Comments can be added directly within the document to illustrate and explain changes.
- Accept and reject changes: Review and accept proposed changes, or reject changes you don’t want to keep. Teams are notified when an action has been taken on the contract, including who took the action and when.
- Have a clear history: See at-a-glance all the changes made for the entire lifespan of your document—what it was; who made, accepted, or rejected the changes; and any discussion, comments, or previous versions. Every action taken on the contract is recorded into the audit trail history, so it’s easy to trace past activity during the entire contract cycle.
Sound easy? See for yourself below.
At it’s core, contract negotiation is a collaborative process. Track Changes fosters that collaboration, boosting savings, accelerating revenue, and building strong business relationships. What’s more, you’ve already been using Track Changes for years, now it’s just better, easier, and faster.