IACCM Ask The Expert : Office 365 for Contract Management
Microsoft’s CEO, Satya Nadella, shared his thinking on cloud technology at the Morgan Stanley TMT conference this past February. Satya suggested that “Microsoft could grow more from its Office 365 line of cloud productivity apps than anything in the company's 43-year history." He added, “Microsoft recently introduced the Microsoft 365 bundle, which includes Office as well as Windows, along with enterprise security and mobility services." Microsoft and Office 365’s meteoric rise into the cloud has garnered a lot of attention as the most secured platform to store your content and one of the best business applications on Office 365 is its use for contract management.
Practically speaking, Office 365 offers a robust set of capabilities that represent the foundation of contract/document management. Starting with a powerful security and scalability model, very flexible version control, collaboration support and workflow approval, and rich metadata support, these capabilities are most definitely staples within Office 365. However, Microsoft and its partner community have heavily invested in the next generation of technologies that pave the way for improved contract management process support. This comes in the form of supporting complex contracting relationships, document automation, machine learning, Blockchain support, advanced analytics and reporting and powerful integrations with many other systems. Chances are that your organization has either migrated to Office 365 or that there are plans underway to migrate to Office 365.
Looking at the Microsoft Cloud platform through a generic and critical lens, Corridor Company CEO Russ Edelman joined IACCM's Phil Dungey to discuss the state of Microsoft Office 365 for optimized contract processes. In the session, he covered the basics of Office 365, along with a specific dive into contract-specific functions. The session included a review of the next generation contracting technologies that matter within the Office 365 ecosystem and why it behooves you to stay abreast of the advances being made with Microsoft’s most successful product in its history.
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