AXDRAFT Contract Automation

Description

AXDRAFT, now integrated into Onit's ContractWorks, offers a robust solution for automating contract creation and management. The platform empowers users to build dynamic, guided templates with live logic, ensuring consistency and compliance in every document. By answering a series of questions, users can generate accurate, ready-to-review contracts quickly.

Collaboration is streamlined with built-in redlining capabilities, allowing internal and external stakeholders to comment, suggest edits, and approve changes in real-time. Version tracking maintains accuracy and accountability throughout negotiations. Once finalized, approved contracts are automatically synced to ContractWorks for secure storage, tagging, and comprehensive visibility.

AXDRAFT manages the entire workflow, from drafting to review and approval, while ContractWorks handles secure storage, access controls, and historical records. This connected experience ensures transparency and keeps contracts on schedule. Approvals are simplified by defining approvers and setting conditions within workflows, with final contracts automatically moving to ContractWorks upon completion.

Signature execution is managed through ContractWorks' ReadySign eSignature tools or integrations, as AXDRAFT does not handle signing directly. All contracts are securely stored in ContractWorks, serving as the centralized repository. AXDRAFT maintains document history, version control, and audit trails, while ContractWorks manages long-term storage and repository-level access permissions.

ContractWorks also tracks key metadata, reminders, and enables tag-driven reporting, making dates, clauses, and obligations searchable and reportable. Dashboards provide clear visibility into active contracts, renewal schedules, and team activity. Automated alerts ensure timely notifications for renewals and expirations, leading to smarter contracts and faster business operations.

AXDRAFT Contract Automation's Core Features

• Automated contract creation through guided questions

• Dynamic template building with live logic

• Built-in redlining and real-time collaboration

• Streamlined review and approval routing

• Seamless integration with ContractWorks for storage

• Secure contract repository management

• Automated notifications for renewals and expirations

• Centralized tracking, reminders, and reporting

• Version control and audit trails

• Role-based access controls for contract management

How to use AXDRAFT Contract Automation?

1. 1

   Configure: Build dynamic contract templates with AXDRAFT's logic tools.

2. 2

   Generate: Answer guided questions to create accurate contracts.

3. 3

   Collaborate: Use built-in redlining for real-time stakeholder input.

4. 4

   Approve: Route contracts for review and approval within AXDRAFT.

5. 5

   Execute: Finalize contracts and manage signatures via ContractWorks integrations.

6. 6

   Store: Securely store all finalized contracts in the ContractWorks repository.

7. 7

   Manage: Utilize ContractWorks for tracking, reporting, and reminders.

AXDRAFT Contract Automation's Use Cases

• Automated Contract Drafting
• Streamlined Approvals
• Collaborative Negotiation
• Centralized Contract Repository
• Lifecycle Management
• Compliance and Risk Management
• Automated Notifications

FAQ from AXDRAFT Contract Automation

• What is AXDRAFT and how does it work with ContractWorks?

  AXDRAFT automates contract creation and workflow management. It integrates with ContractWorks, which provides secure storage, user controls, and visibility for the entire contract lifecycle.

• How does AXDRAFT simplify contract creation?

  AXDRAFT allows users to build dynamic templates with live logic and generate contracts by answering guided questions, ensuring accuracy and consistency.

• Can I collaborate on contracts within AXDRAFT?

  Yes, AXDRAFT features built-in redlining for real-time collaboration, enabling stakeholders to comment, suggest edits, and approve changes directly within the platform.

• Where are contracts stored after creation and approval?

  All contracts created and approved through AXDRAFT are securely stored in ContractWorks, which serves as the centralized contract repository.

• Does AXDRAFT handle contract signing?

  No, AXDRAFT automates the pre-signing workflow. Contract execution and signature management occur within ContractWorks using its built-in ReadySign eSignature tools or integrations.

• How does AXDRAFT help with contract approvals?

  AXDRAFT manages review and approval routing by allowing users to define approvers and set conditions within workflows. Approved contracts are automatically moved to ContractWorks.

• What kind of reporting is available with AXDRAFT and ContractWorks?

  ContractWorks manages all tracking and reporting, providing dashboards with clear views of active contracts, renewal schedules, and team activity. AXDRAFT feeds data into ContractWorks for analysis.

• How does AXDRAFT ensure data security and compliance?

  AXDRAFT ensures consistency and compliance through template logic. ContractWorks manages secure storage, repository-level access permissions, and audit trails for enhanced data security and compliance.

• Who is the target audience for AXDRAFT?

  AXDRAFT is designed for legal teams, sales departments, and any business looking to streamline their contract creation, approval, and management processes.

• Can I access my AXDRAFT account through ContractWorks?

  Yes, existing AXDRAFT customers can access their accounts through ContractWorks, providing a unified experience for contract management.