Concord makes it all easy!
Rating: 9 out of 10
February 12, 2021
Vetted Review
Verified User
2 years of experience
Concord is used across departments to manage contracting needs for our entire organization, which includes parent company and 8 subsidiary agencies. It has provided a streamlined solution to managing contracts and agreements across their life cycle from review, to negotiation and approval, to execution via electronic signature. Concord is very easy to use and has saved our organization valuable resources by reducing the time and people needed to track hundreds of contracts.
- Organization of documents via tags and folders which drive access and allows us to manage documents securely.
- Incorporation of a clause library and automated template features to draft many contracts with just a few clicks of a button!
- Easy to use automated workflow for vetting your important documents and ensuring the right people have reviewed, approved, and signed your agreements. We can now set the order of signatures as well!
- Summary fields for important data points and Discussion tab for reviewers to post comments so all the context and commentary around the document can be seen in one place (with internal vs public settings so third parties are unable to view internal comments during the review process if you don't want them to).
- Special fields that allow you to set due dates or reminders which push notifications to you via email, such as upcoming termination notices, end dates, or financial clauses for payments due.
Cons
- It's great that third party documents can be uploaded into Concord as either a word doc or PDF; however, Concord does not yet provide users with the ability to insert comments onto a PDF version of a document.
- Concord has implemented the use of Smart Fields that are fields within your template (created by your agency) that auto-populate fields on your summary tab to save time in identifying and highlighting important pieces of data. Unfortunately, for agencies who receive a lot of third party payer agreements, these fields can not be used.
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- Increased efficiency with approval workflows, managing pending contracts, and ensuring life cycle dates are tracked.
- Concord ensures a professional presentation when interacting with third parties- our company's branding is included with all electronic correspondence that comes out of Concord and custom messages can be saved and used to communicate consistently and professionally.
- The ability to track contract life cycles via an organized, easy to use, platform offers us the opportunity to stay ahead of the game with our buyers so that we can plan better for negotiations during contract renewal periods resulting in increased revenues.
Concord is more user friendly and gives the user the power to change settings, change workflows, and customize to meet their own needs without having to wait on customer service or support to make the changes for them. In fact, I was able to do most of our implementation myself just the way I wanted it, and it was easy! There aren't any hidden costs or fees- you simply pay for the number of licenses you need and get all the support you need for free (if you ever need it!). And by the way, the storage is unlimited so there are no worries about maxing out on how many contract or documents you can have!