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NOVATUS CONTRACTS PEAK

 

MODULES IN THIS PEAK:

 

ABOUT THIS PEAK

Conga Novatus℠ automates the entire contract lifecycle management process, allowing users to gain visibility, ensure compliance, and mitigate risk.

In this Peak you will:

  • Create and chart an Analytics report
  • Negotiate a Contract in the Negotiation Portal and sign a document electronically with DocuSign
  • Activate and configure Clause Identification and Management
 

Report Like a Pro with Novatus Analytics

INTRODUCTION

Novatus Analytics allows users to create reports for data stored in Company, Contract, and Project Profiles, as well as data captured for Clauses and Contract Requests. An Analytics Report can be designed to not only display information at the field level, but also analyze the information in report fields. Analyzed data is incorporated into the report and can also be represented graphically in charts that become part of the report.

In this module, we will show you how to create an Analytics Report, apply basic formatting to the report, and output the report as an Excel spreadsheet, PDF file, Word document, CSV (Comma-Separated Value) file, or text file.

CREATING AN ANALYTICS REPORT

The ANALYTICS feature analyzes the data stored in Novatus Contracts and communicates patterns discovered in the data through reporting. Data is extracted at the field level and Analytics Reports can be generated as standard reports or reports with charts. Functionality can be added to an Analytics Report using calculations and conditional formatting.

ADDING FUNCTIONALITY TO AN ANALYTICS REPORT

In adding functionality to an Analytics Report, you can add a calculation to the report and have the result of the calculation appear in the report as a new field. Another way to add functionality is to apply conditional formatting so that color is used to highlight data whenever the text, number, or date in an individual report cell meets a pre-defined condition.

CHARTING AN ANALYTICS REPORT

The data in an Analytics Report can be represented graphically and included in the final report. Several different types of charts can be used to represent report data, including column, bar, pie, area, line, financial, map, meter, combination, special purpose, and analytical.

REVIEW

In this module, we showed you how to create an Analytics Report, apply basic formatting to the report, and output the report as an Excel spreadsheet, PDF file, Word document, CSV file, or text file.

  • Identify one of your company’s reports whose usability would be enhanced by adding a calculation to the report.
  • Explain how conditional formatting can be used in your company reports.

NEXT STEP

Wondering which Peak to summit next?

For more Novatus modules, check out:

  • Negotiation Portal and eSignature
  • Novatus Flow, Wizards and Dynamic Forms

For more Contract Solutions modules, check out:

  • Eliminate Contract Bottlenecks with Conga SalesConnect
  • Introducing Clause Identification and Management

Q&A

What questions do you have?

RESOURCES:

 

Negotiation Portal and eSignature

INTRODUCTION

The contract negotiation process is accomplished using the Document Package Wizard, the Document Packages feature, the Negotiation Portal, and the DocuSign application. The contract to be negotiated is uploaded to Novatus, and the Document Package Wizard is run to identify the contract draft, select the participants in the negotiation process, and create a Document Package where the contract can be checked out by a member of the negotiation team, revised, and then checked back in to the package for review by all members of the team. While a Novatus negotiator accesses the contract from the Document Package, the counter-party negotiator accesses the contract from the Negotiation Portal, which is a secure online environment with some of the functionality available in the Document Package. Once negotiations have ended and the final version of the contract has been agreed upon, the document is locked and submitted for electronic signature. Both parties sign a PDF version of the document in the DocuSign cloud, producing a legally-binding document.


In this module you will negotiate a contract in the Negotiation Portal and sign a document electronically with DocuSign.

RUNNING THE DOCUMENT PACKAGE WIZARD

The Document Package Wizard is used when a contract is still in the negotiation phase and revisions need to be made and approved by both parties. When a Novatus user runs the Document Package Wizard, they identify the contract to be negotiated, and select the Novatus program users and the other individuals who will participate in the negotiation process. These individuals are typically representatives of the other party (counter-party), or lawyers for the other party. The Wizard sends an email notification to all those selected, notifying them that they have been invited to be a member of the Document Package. Members of the document package who are Novatus users access the contract documents to be negotiated via the Document Package, which is also created by the wizard. Team members who are not Novatus users are provided with a link, directing them to the Negotiation Portal, where they can participate in negotiations in a secure online environment.

NEGOTIATING A CONTRACT IN THE PORTAL

The Document Package Wizard generates email messages to all those identified as members of the Document Package, inviting them to participate in the contract negotiation process. Team members who are not Novatus program users negotiate the contract from the Negotiation Portal, which they access from the link provided in the email message. In the Portal, team members revise the contract by checking the document out of the Portal, revising the document in MS Word, and then checking the revised document back in to the Portal for review and approval by the other party.

NEGOTIATING A CONTRACT IN NOVATUS

The Document Package Wizard creates a document package in Novatus for the purpose of tracking the progress of the contract negotiation process. The wizard also generates email messages to all those identified as members of the Document Package, inviting them to participate in the process. Team members who are Novatus program users negotiate the contract from the Document Packages screen, which they can access from the link provided in the email message, or by simply logging into the program. In the Document Packages screen, team members revise the contract by checking the document out of the package, revising the document in MS Word, and then checking the revised document back in to the Package for review and approval by the other party via the Portal.

SIGNING A CONTRACT ELECTRONICALLY IN DOCUSIGN

Once a contract document has been negotiated in Novatus and is ready for signature, both parties can provide their signatures electronically using DocuSign, which is an application that has partnered with Novatus and provides a secure online environment for obtaining eSignatures, producing a legally binding document.

REVIEW

In this module you saw how to negotiate a contract in the Negotiation Portal and sign a document electronically with DocuSign.


What did you learn about the Negotiation Portal that you didn’t know before?

NEXT STEP

Wondering which Peak to summit next?

For more Novatus modules, check out:

  • Report Like a Pro with Novatus Analytics
  • Introducing Clause Identification and Management

For more Conganeer modules, check out:

  • Reporting with Conga Composer
  • Automate Renewal Management

Q&A

What questions do you have?

RESOURCES:

 

Introducing Clause Identification and Management

INTRODUCTION

This module teaches learners how to activate and use the Clause Management feature in Novatus Contracts. Clause management evaluates the language used in a document uploaded to a Contract Profile using a program that automatically runs in the background, extracting data from the document. During Document Clause Processing, users match each clause in their document to a standard clause type based on the percentage match between the language in their document and the standard language for that clause type, as defined by the Novatus Model.


The Novatus Model is a dynamic standard that is based on the clauses stored in the Clause Library, legal definitions of contract terms as defined by the Law Insider website, and input from users who complete Document Clause Processing. As more and more users complete Document Clause Processing for the contracts they upload, their input "trains" the Model on learning new contract language at the clause level. Reports can also be generated to identify the documents that use standard or non-standard clauses, as well as locate documents that contain specific clauses.


In this module you will learn how to activate and configure Clause Identification and Management.

ACTIVATING AND CONFIGURING CLAUSE MANAGEMENT

Clause Management is activated and configured using the Lists feature in Novatus. In activating clause management, the document types whose clauses should be processed are identified by in the List Administration screen. In configuring clause management, the clause categories, types, and security levels for the clauses stored in the Clause Library are also defined in the List Administration screen. The Clause Library not only stores a company’s alternative contract language terms, but is also used to store standard contract language since both standard and alternative contract terms are used by the Novatus Model during document clause processing.

PROCESSING DOCUMENT CLAUSES

Whenever a user uploads a document to a Contract Profile, and assigns it a document type that has been slated for clause analysis, the Clause Management feature automatically runs a background program that extracts language from the document. The extracted language is analyzed, compared to the Novatus Model, and clauses that are automatically processed by the background program are stored in the Clauses screen in the Contract Profile. When users execute Document Clause Processing for an uploaded document, each clause in the document is compared to stored language in the Novatus Model and a clause type is assigned to the clause, along with a percentage match that is determined by the similarity between the clause language in the uploaded document and the language in the Novatus Model. The Novatus Model, which is a repository for the current standard language for each contract clause, is initially defined by the clauses stored in the Clause Library and the Law Insider website. However, the Model is capable of "learning" new clause language through Document Clause Processing where a user selects the best match between each clause in their uploaded document and a clause type. As more and more users "train" the Model through Document Clause Processing, the more automated Clause Management becomes in assigning a clause to a clause type in an uploaded document. Once a clause is processed three (3) times, the Model will generally display an 80% (or better) match for that clause, and automatically select the clause type during processing.

REPORTING ON DOCUMENT CLAUSES

The Reporting feature can be used to create reports to identify the non-standard clauses that are used in the documents in your Novatus database. Another use case is to search for all contract documents that contain a specific clause.

REVIEW

In this module you learned how to activate and configure Clause Identification and Management.

How might Clause Identification and Management improve contract management in your organization?

NEXT STEP

Wondering which Peak to summit next?

For more Novatus modules, check out:

  • Novatus Flow, Wizards and Dynamic Forms
  • Negotiation Portal and eSignature


For more Contract Solutions modules, check out:

  • Eliminate Contract Bottlenecks with Conga SalesConnect
  • Report Like a Pro with Novatus Analytics

Q&A

What questions do you have?

RESOURCES: