Challenges

Many companies are all too familiar with the problems created by disjointed or non-existent contract management systems. Some of the complaints we hear most frequently include:
  • Difficulty locating operative contracts
  • Difficulty tracking contract termination, renewal, and other dates
  • Confusion over contract termination, renewal and other terms
  • Inefficient contract approval processes creating delays and bottlenecks
  • Inability to effectively measure applicable metrics and identify revenue opportunities
  • Difficulty managing amendments and other supporting documents in cohesive system
  • Inability to efficiently search and find applicable terms and conditions
  • Inability to effectively integrate with other company document and records management systems

Solutions

Mind Merchants offers its clients robust, “out of the box” contract lifecycle management systems and consulting services, as well as paralegal and attorney support to provide database maintenance, contract review and redlining, template creation and revision, negotiation and approval services, data migration services, and foreign language consulting and translation services in customized integrated partnership solutions.

Mind Merchants’ fully integrated solutions offer the following benefits:

  • An accurate, reliable, searchable, centralized contract management system.
  • Collaborative creation and workflow of multi-lingual templates and contracts.
  • Creation of a template repository with clause and library capabilities.
  • Negotiation, escalation, and approval processes.
  • Monitoring and alerting against milestones.
  • Extensive reporting and analytical tools (e.g., audit tracking functionality).
  • Roles, permissions, and security systems supporting multiple parties.
  • Data import and export capabilities.
  • Integration with other systems including web services API, CRM & ERP, and system integration (e.g., Salesforce, SAP, Oracle, Ariba, etc.).
  • Sound security of data.
  • Proven reliability, performance, and operational efficiency.
  • Professional consulting, training, and support services.
  • Paralegal and attorney support with contract review, template creation, redlining, negotiation, escalation, and approval capabilities.

Services

Mind Merchants’ legal support teams assist at every stage in the contract lifecycle and make repeatable, administrative work create value for the business, rather than detract from it. Some of the services Mind Merchants performs include:

Contract creation and Negotiation

  • Draft, red-line, and negotiate simple, high volume agreements.
  • Create and maintain standard template agreements and clause libraries.

Contract execution and approval

  • Prepare and distribute all necessary documentation for in-house approval and ensure contract execution.

Post contract administration

  • Abstract and upload contracts into contract repositories with supporting documentation.
  • Contract repository management – create files, alerts, renewals, and report generation.
  • Document, track, and report contractual obligations.
  • Perform risk analyses based on deviations from standard terms, regulatory compliance, revenue recognition, and liability exposure.

Merger and acquisition (M&A) due diligence

  • Assess value and risk with abstraction of key terms.
  • Administer integration of incoming contracts with systems, processes, and standards.
  • Conduct analyses for renegotiation.

Mind Merchants’ contract management solutions can be used to maximize efficiency in almost every functional area of a business – e.g., sales, legal, finance, records, and executive management. Moreover, they are effective in organizing and maintaining repositories of a wide range of contract types, including:

  • Sales contracts
  • Procurement contracts
  • Service agreements
  • Non-disclosure agreements
  • IP agreements (e.g., licenses)
  • Real estate contracts/leases

Mind Merchants ensures that all of its solutions are up-to-date, industry specific, and tailored to best optimize unique contract databases, business processes, and organizational requirements, while also supporting regulatory needs and best practices for long-term value and quick return on investment. They are ideal forany industry, as well as organizations of all sizes and complexities.

Mind Merchants’ solutions also operate in multiple languages with robust localization capabilities to flexibly address diverse multi-lingual and other formatting needs. They easily satisfy the needs of global business. Overall, Mind Merchants’ support solutions automate, streamline, and simplify contract management and related support processes for increased efficiency, reduced costs, and better margins.

Solutions

Contact Us

Mind Merchant Overseas PTE LTD.
24 Raffles Place
#25-02A
Clifford Centre
Singapore - 048621
info@mindmerchantslpo.com