Getting Started with ContractRoom#
ContractRoom is a cloud-based Contract Lifecycle Management platform that allows you to streamline the process of creating Agreements and negotiating from end to end.
An Agreement is a contract, that typically binds arrangement between an Agreement Originator and a Counterparty as to a course of action.
The Agreement Originator creates the initial contract and negotiates with the counterparty.
The following sections include quick guides for creating Agreements, assigning counterparties, negotiating terms as a counterparty, and accepting and signing Agreements in the platform.
For a deeper dive into the platform features and user guides, navigate in the sections of this Knowledge Center or use the Search tool on the top part of the page.
Platform User Interface#
This section gives a visual description of the user interface of the platform and the ContractRoom main tabs and options.
1. Navigation Bar#
This section of the platform allows you to access to the main ContractRoom features:
- Agreements: Here you can find a list of all the Documents related to your user. From here you see the status of your Documents and you can take action on the selected items.
- Activity: This is the page the platform displays when you access ContractRoom through the Home Page. Here you can see your Activity Feed, your Tasks, and you can start creating Documents from the New Agreement button.
- Reports: Here you can run reports using the data from all your Documents. You can save and load filters with your search criteria. and you can also access your Documents directly from your Reports.
- Queues: Here you can access your Task Queues. These Tasks include creating Agreements based on Requests and the Approval of Agreements during the negotiation. To know more about Queues, go to the Task Queues section of this guide.
2. Settings, Help Center, and Profile#
This section of the platform contains the following options:
The visibility of the Settings menu and the following options depend on your account permissions, and are only available for Admin Users.
The Settings menu is represented with the icon and it contains the following options:
Admin Panel: Here you can access the Admin Panel to configure your site. You require a specific set of permissions to access this option.
Framework Builder: Here you can access the Framework Builder, where you can create new Frameworks, edit, or delete existing ones, and make general adjustments to the Frameworks in which you have access. You require a specific set of permissions to access this option.
Workflow Builder: Here you can access the Workflow Builder, where you can create a specific path for the users of your company to follow when working on a series of Documents. You require a specific set of permissions to access this option.
Smart Table Library: Here you can create and configure a Smart Table. Smart Tables are used to connect a third-party service and bring data by entering specific information in a tag. You require a specific set of permissions to access this option.
The Settings menu is represented with the icon and it contains the following options:
Help Center: Here you can access directly this ContractRoom Knowledge Center to find support materials such as User Guides, Video Materials, Release Notes, and other useful resources.
Contact Support: Here you can submit a Support Ticket by entering your email address, a subject, provide a description of your ticket, and attach files if needed. Our Support Team will contact you as soon as possible to help you with your inquiries.
Profile: The Profile option allows you to access your Profile Settings. Here you can see and change your basic information such as your email, screen name, legal name, company, among other data. You can also change your Password, consult, regenerate, and reset your API keys if you have assigned.
Logout: Here you can log out of the platform, after clicking this option the page takes you back to the Login Page.
3. New Agreement#
The New Agreement button allows you to create a Document in ContractRoom such as an Agreement, submit a Request, or upload a legacy document to the platform to create a Record.
Here you can see the upcoming Tasks for Agreement, Records, or Requests in which you are involved. These Tasks are created automatically and you can schedule Tasks at certain times in the history of your Documents, to be used as reminders to take action in Documents before they expire, among other cases.
5. Activity Feed#
The Activity Feed contains an overview of your Documents, and shows the updates of the Agreements, Records, or Requests in which you are involved. You can access an Agreement to sign it, approve it, or perform whatever action you have pending.
6. "Get Help" Assistant#
The "Get Help" Assistant allows you to access to a menu of guided tours, support materials from the ContractRoom Knowledge Center, and search for useful information about the site. It includes a built-in search function that allows you to find information quickly.
Creating an Agreement in ContractRoom#
The platform allows you to create Agreements based on digital templates, named frameworks.
If you have multiple frameworks assigned to you, you can choose one as a template to generate your Document. If you have only one framework assigned, you are automatically directed to create your Agreement.
When you select a framework to work with, the system prompts you with a questionnaire if you have different Document assembly options configured. When completing the questionnaire, the system pre-fills your Agreement accordingly.
Once you log in the platform, the system displays your personal dashboard.
To create a new Agreement:
Click the New Agreement button next to the Activity Feed section. Select Document from the dropdown menu. The system displays the Start New Document dialog box.
There are more options for Document creation. To learn more, refer to the ContractRoom User Guide.
In the Start New Document dialog box:
- Fill the Name field.
- Add an optional description.
- From Document Source, select Use Framework to use one of your available templates to draft the Agreement.
There are more options for Agreement creation. To know more, refer to the ContractRoom User Guide.
- Fill the Company Name field with the name of your company.
- From Allow offline edits select Yes
Click Next to continue with the process.
If you have more than one framework assigned to your account, select one to work with for the new Agreement. Otherwise, you are automatically directed to the Contract Editor.
If the system prompts you with the questionnaire for Document assembly, answer accordingly. If not, continue to the next step.
In the Collaboration Settings dialog box, choose I will work alone and click Next.
Enter the email of your counterparty, click Next. Confirm the email, click Next. Enter the company of the counterparty who will be receiving this Agreement and click Next. The system displays the Contract Editor.
Review your generated Agreement, fill the term tags if applicable, and edit text from your Agreement according to your needs.
When you finish drafting, the system highlights the Next icon in red (indicated with an arrow).
Click the Next icon. The system displays the Begin collaboration dialog box. Add a comment if needed and click Send.
After you complete these steps, the system sends the Agreement via email to the counterparty you previously designated.
Reviewing and Negotiating an Agreement as a Counterparty in ContractRoom#
When someone assigns you as the counterparty of an Agreement, you receive an email invitation with a link to the Document in the platform.
To review an Agreement as a counterparty:
- Follow the link inside the email received from ContractRoom.
- Log in or create a ContractRoom account if you don't have one.
- Now that you are logged in, the system displays the message "You have been assigned as the Controller for this collaboration." If you are the person designated to review this Agreement click the I'm the Controller button. Otherwise, click Reassign to designate the right person.
The system displays a preview of the Agreement. If you want to negotiate the terms in your Agreement, click Make Edits. The system displays the Contract Editor screen.
If you don't want to make changes to the Agreement, click Complete and Sign to sign and accept the Agreement.
Accept or decline terms in tags according to your needs, edit text if needed.
- Once you're done making changes, the system highlights the Next icon. Click this icon to send back your Agreement to the originator for his review.
Once the Agreement originator agrees with your changes, you can accept the Agreement.
Reviewing the Status of your Agreement in ContractRoom#
ContractRoom allows you to visualize the entire contracting process status.
To review the status of your Agreements:
- Click the Agreements tab on the navigation bar located on the top of the page. The system displays a list of all the Agreements you have collaborated in.
- Find the Agreement of which you want to see the status. You can manually search the Agreement on the Search bar.
- Select the Agreement. The system redirects you to the Contract Editor.
- On the toolbar, click the History icon, indicated with a small clock. Select Summary from the options displayed.
The system displays the Summary of the Agreement. If there are pending activities on you, you can proceed to take action.
After following these steps, you were able to create an Agreement as an originator, review an Agreement as a counterparty, negotiating terms, accepting an Agreement, and see the status of all your Documents. For more information on the usage of ContractRoom platform, refer to the ContractRoom User Guide.