Streamlining Infrastructure Contract Lifecycle -

Streamlining Infrastructure Contract Lifecycle

Streamlining Infrastructure Contract Lifecycle with Document Management Software

Upagupta Patnaik – Global Delivery Head, Highbar Technocrat

While infrastructure construction business is multi-million-dollar deals, one thing keeps the posh industry under conventional bounds- the long trail of paperwork for contractual deals. By far shaking hands to close a deal seemed like the most tedious task, though the actual boulder of work comes next in the form of scrolling paperwork for each deal. These include letters, multiple contracts, permissions, etc. which needs to be signed by several delegates on both sides.

Streamlining Infrastructure Contract Lifecycle
Streamlining Infrastructure Contract Lifecycle

Communication hurdle
This becomes quite a risky setting as there is a high possibility for loss of paperwork, and it does happen a lot. This spark several issues in the natural flow of business followed by delayed decision making, loss of business opportunities, penalties, loss of claims against the delay by clients and more. The greater number of people involved in the process higher the chances of loss of information.

Solution- Contract Document Management
To rescue the industry, from the clutches of confusion and data loss, Highbar Technocrat has developed Contract Documents Management Software. The module brings every person involved in the communication chain under the same umbrella creating a simplified and cohesive communication flow.

Here is a detailed insight into the working of Contract Document Management-
● Initially, it works by automating the contractual documents then reforming standards for the exchange of information with clients.

● It comprises of a centralized document repository and a system for constant monitoring over client’s messages and crucial notifications, plus a system for approvals as well.

● The business enjoys flexibility in fixing workflow levels segregated by role-based authorization of files.

● The module is very approachable as its easily accessible through laptop/desktop and mobile phones.

● A predefined folder structure and document types for outward communication with the client.

● Also, with this module, one can categorize the communication types in accordance with the task in hand. These categories include routine, contractual, delay and other aspects of business communication which can be a great option to sort internal affairs before bringing the second party angle.

● This drastically churns the communication cycle reducing the time of claims and dispute settlement.

● The system also supports cloud deployment option, hence securing aspects of data recovery, flexibility and universal access.

● A special alert mechanism with workflow and configurable SLA’s and multiple escalations directed to each person involved in the project. In simpler words, the module sends an alert on different levels like- 1st escalation to Site Contract department officer & Project manager after 7 days.

In other words, Contract Development management brings a new simplified flavour to the construction, infrastructure and real estate industry. It restores the natural communication flow and helps find loopholes in the current system. Hence, an effective and immediate communication plan is formulated which earlier was a fragile chain of emails and approvals. The module might focus on digitalization of hardcopies albeit the tangible paperwork will never run out of fashion. Keeping that in mind, there is an option for printing as well but that comes to post the approval process just to sign the copy. By doing that, one eliminates all the needless print copies from both sides.

Result
Communication is the blood of any business, if there is any problem in its natural course then it disrupts the entire working. This results in growing tensions and a constant struggle of blaming each side for the loss of information and time. The module covers you for that and maintains harmony cross both sides facilitating smooth business operations.

                                                                                                                 Upagupta Patnaik – Global Delivery Head, Highbar Technocrat

About the author –
Upagupta Patnaik – Global Delivery Head, Highbar Technocrat Ltd.- Mr Upagupta Patnaik is a global contract management expert. With nearly two decades of experience of having worked across India, Middle East and Europe, Mr Patnaik is in sync with the workflow of tendering and contracts of the Engineering, Procurement & Construction (EPC) and Real Estate Industry. Mr Patnaik ensures seamless IT delivery and effective consulting experience. Mr Patnaik is a specialist in Metro – IT Management in India.

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