Posted on 24th May 2022

Thought Leadership

Why Automating Your Extension Letter Creation Is Making Contract Management Effortless

We love a world where it is better to work smarter and not harder, and we know there is a need to make your day-to-day task less stressful. If only you could do all your work quicker, easier and without much hassle...

We understand that Contract Managers and Procurement Leads can have multiple contracts to manage and review, and sometimes the simplest task of extending an awarded contract can take up some of your time when you’re simply just trying to pull together an extension letter for your supplier.

Well, in the new age of technology you might not be surprised this could automated, and your contract’s extension letter can be created in an instant and with very little manual input from yourself and your team.

If you think you are spending too much time on creating contract documents such as extension letters, read on to find out the benefits of automating your extension letter creation in your contracts management process and how Accord can help you with that.

5 instant work benefits from automating your extension letter creation

Automating a document such as your contract’s extension letter in your contracts management system will move you and team along your workflows without having to follow up every 24 hours because work hasn’t been done or received yet. Using a system to create your extension letter from your company template will mean the need for manual data entry, email reminders, printed paperwork, and other time-consuming steps is reduced and even eliminated in some circumstance.

Providing a range of benefits from simplifying document creation and storage, to transforming workflows and processes, here are five instant benefits from automating your extension letter creation.

  1. Faster Contract Document Generation
  2. Saves Time and Reduces Errors
  3. Improved Visibility and Version Control
  4. Easy Collaboration and End-User Experience
  5. Improved Workflows and Document Security

How Accord can auto-generate your contract extension letter

Carrying out an extension on your contract doesn’t have to time-consuming and the workflow of creating documents for the extension is easily avoidable with Accord auto-generating your contracts extension letter.

  1. When you have extended your chosen contract award in Accord, click the attachments tab and choose to create your extension letter.
  2. With a letterheaded template that your company has provided, your extension letter will be instantly generated and pre-populated with the data and fields needed in your document such as, the supplier details, contract name and reference, key contract dates, etc. No need to re-key information and reducing manual errors.
  3. All provided in a Word document, you can adjust, edit, and add any additional comments in the document before you re-upload it into the system against the contract award.
  4. Confirm the document changes and let Accord do all the work of saying under the correct contract, managing your versions and storing your document history for future audit.
  5. The Accord system will also automatically notify your internal stakeholders and procurement lead via an email from the system with a copy of the extension letter attached and link to the contract within the system for easy collaboration, visibility, and access.

Contract Extension Letter Creation with Accord

Accord Contracts Management makes it easy to create seamless, standardised digital contract extension letters and let the data automation through the system do all the hard work for you. With a document template library to create several contract documents easily and instantly, such as extension letters, Accord makes managing contracts simple, easy and stress-free.

Talk to us to find out more about Document Templates, Creation and File Requests and Sharing when using the Accord Contracts Management Systems.

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