Drexel University to Use Corridor Company's Contract Management App for Efficient Contract Processing

By CIOReview | Wednesday, October 28, 2015

FREMONT, CA: Corridor company, a provider of contract lifecycle management software powered by SharePoint and Office 365 platforms, announces selection of its Contract management app for Sharepoint called CM[.app] by Drexel University. The app will let Drexel improve their contract processing efficiency and at the same time minimize risks associated with it.

The process of creating, managing and renewing contracts is one which is vital to all organizations. From creation to obligation, Corridor’s Contract Management [.app] or CM[.app] leverages the SharePoint platform to provide a robust contract lifecycle management application. It automatically generates contracts and supporting documents through an easy-to-use wizard. With the use of a contract playbook and clause library within the app, data can be accessed to create custom agreements based on contract type. The app’s dashboard updates the status of the contract and/or documents as they are negotiated.

Drexel’s goal of making progress one step at a time for successful system adoption matches with Corridor’s business release approach to product deployment, making working functionality quick for business users. Selection of CM[.app] has been based on an intense research and evaluation process including comparison between SharePoint and non-SharePoint –based contract management solution.  Clear user interface and flexible reporting capabilities placed CM[.app] in a favorable position before Drexel that confirmed its selection.

The University has been looking for features like customizable workflow, simultaneous review of contracts, version control, amendment addition with approval, correspondence and notes, and search capabilities on both content and metadata at any point in the contract’s process, in a single solution which it discovered in Corridor’s contract management app. Association with Corridor company might provide Drexel with a promising avenue for automation in the coming years through its adjacent technologies in supplier management.

“Higher education is a focal point for innovation in contract management, especially where gaps may exist for managing contracts and suppliers. We welcome Drexel as a client, and look forward to their insights on how Corridor’s solutions can provide increased value to colleges and universities,” says Russ Edelman, CEO, Corridor.