Name: Leadmark TRAC Governance Cloud
Author: Leadmark

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Leadmark TRAC Governance Cloud is a solution designed to streamline and empower outsourcing relationship management. According to the vendor, this product automates and streamlines governance processes, enabling collaboration and communication between suppliers and clients. The Leadmark TRAC Governance Cloud is said to be suitable for businesses of all sizes and caters to a range of professions and industries, including business analysts, procurement managers, vendor managers, outsourcing managers, and IT managers.

**Key Features**

**Collaborative Governance**: According to the vendor, this feature enables collaboration and communication between suppliers and clients by providing a single secure platform for both teams to work on. It is claimed to improve collaboration, reduce communication lead times, and enhance performance and value.

**Central Repository**: The vendor states that this feature acts as a central repository for all contracts and contract components, managing the entire contract lifecycle. It is said to eliminate the need for lengthy email threads and hard-to-maintain spreadsheets. The central repository securely hosts all necessary governance information, mitigating risks.

**Automated Workflows and Reporting**: According to the vendor, this feature automates workflows and reporting to improve governance performance. It is claimed to streamline routine and administrative governance processes, enhance information transparency without extra effort, and interlink critical activities such as meeting decisions with contract changes and risks with obligations.

**Improved Collaboration and Communication**: The vendor states that this feature provides a single secure platform for both suppliers and client teams, reducing communication lead times and improving collaboration. It is said to give users access to all necessary information for driving performance and value. The product supports access from any location using laptops, tablets, or smartphones.

**Efficiency Gains**: According to the vendor, this feature improves the productivity and effectiveness of governance teams. They claim that typical efficiency gains range from 20-30% and that it reduces effort associated with collecting and reporting performance data. It is also said to minimize time spent on distributing information and managing queries and questions.

**Affordable and Scalable**: The vendor claims that this feature offers a simple, affordable, and subscription-based solution pre-configured for sourcing governance. They state that it eliminates the need for costly configurations and provides a fast return on investment with a 30-day quick-start implementation methodology. The product allows rapid up/down scaling based on business needs, with data that can be easily extracted at any time.

**Professional and Secure**: According to the vendor, this feature offers the product via secure user-based access with tailorable security features. They state that it ensures the security and confidentiality of information by hosting it in ISO/IEC 27001 compliant facilities in the Netherlands.

**Simple and Intuitive**: The vendor claims that this feature provides a fully web-based and user-friendly platform accessible from any location using laptops, tablets, or smartphones. They state that it delivers a familiar and intuitive user experience, making it easy for users to navigate and utilize the product effectively.

Efficient Setup Process: Users have found the setup process of TRAC to be quick and easy, requiring minimal resources. Several reviewers have praised its simplicity and efficiency, making it a hassle-free experience.

User-Friendly Interface: TRAC is highly regarded for its user-friendly interface. Many users appreciate how easy it is to navigate and keep track of tasks within the software. Its fully trackable nature allows users to stay organized and focused on their assigned tasks.

Flexibility with Python Plugins: The availability of Python plugins in TRAC has been commended by numerous reviewers for providing a high level of flexibility and adaptability. With enough time for customization, these plugins allow businesses to tailor TRAC to meet their specific needs effectively.

Cumbersome Ticket Editing: Some users have found editing tickets in TRAC to be cumbersome and time-consuming, requiring a significant number of clicks. This can be frustrating, especially when attaching files or screenshots. 

Lack of Documentation and Support: Several reviewers have expressed dissatisfaction with the lack of documentation and support for TRAC. Users have stated that the incomplete documentation and unclear administration controls make it difficult to understand how to use the software effectively.

Outdated User Interface: Many users feel that TRAC's user interface is outdated and lacks a modern look and feel. The software appears dated, which may deter some users who prefer more visually appealing interfaces.

Trac has become a valuable tool for many users, offering an easy-to-use bug tracker and a free software solution for evaluating release processes and tracking technical issues. Users have found it effective in quickly providing feedback and reporting issues, helping to keep their development activities organized. With its integration with SVN repos, users have heavily relied on Trac's ticket system for bug tracking and milestone tracking. 

Beyond software development, Trac has also been leveraged by organizations to manage various aspects of their businesses. It serves as a centralized platform for bug tracking, milestone tracking, distributing work to team members, and generating reports. One particular advantage of Trac is its ability to coordinate large teams across multiple time zones and countries, allowing for progress tracking against new product versions and fostering discussions about bug reports and feature requests. The online accessibility of Trac has proven to be a significant value-add for distributed teams, ensuring that the entire conversation remains easily accessible. Furthermore, the wiki functionality offered by Trac has been helpful in building up a knowledge base within companies. Overall, Trac has aided users in becoming more structured in their code and release schedules.

Leadmark's TRAC drives discipline and accountability in outsourcing relationship management. Typically, only 8% of outsourcing governance efforts are spent on decision making, the core value adding component. The remainder is mostly routine and administrative work. TRAC aims to enable the effective management of these critical but routine governance processes in one tool.

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DocuSign CLM, formerly SpringCM, is a cloud-based platform that can be used to manage documents, contracts and related collateral.  The solution includes workflows that can be tailored to an organization's  business processes. It is also designed to accelerate team collaboration. SpringCM was acquired by DocuSign in the summer of 2018.

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Leadmark TRAC Governance Cloud

Contract management software is a program or series of related programs for storing and managing legal agreements such as contracts with vendors, leases and licensing agreements.

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Contract Authoring

Features related to the contract authoring process.

Contract creation

Includes a document generator and tools for creating new contracts.

Contract templates

Allows users to set up templates or templatize old contracts in order to make new contract creation easier and more consistent.

Clause library/saved fields

Users can save certain fields of a contract for re-use; these may be stored in a template or a clause library.

Integration to CPQ

Integrates to CPQ software so that calculated quotes/configuration details can feed into contracts. This is an important element of automation in the contract authoring process.

PDF generator

Users can generate PDFs of contract documents.

Contract attachments

Users can attach other documents, like invoices, images, meeting minutes, memos, etc, to contracts.

Guided logic

Automated questions (based on company policies and the circumstances of the deal) help with the contract authoring process; this is an example of partial automation.

Contract Collaboration

Features related to collaborating on contracts.

Contract sharing

Users can easily and securely share contracts with internal users and external users. Contracts are accessible.

Contract editing

Contracts can go through multiple drafts and revisions; the software supports multiple versions and version comparison.

Contract merge

Multiple versions of a contract can be merged.

Collaborating on contracts

Internal and external users can collaborate on contracts without changing the text of the contract; this may be done through comments, questions, and/or message board conversations.

MS Word plug-in

Users can make changes to contract language using Microsoft Word.

Approval process

Approval workflows can be configured to streamline and automate the approval process; the approval process is helpful and convenient.

Parallel approvals

Users can set up complex workflows to handle parallel approvals.

Interdepartmental workflows

Users can set up interdepartmental workflows so that contracts can flow between teams in a logical and organized manner.

Contract Monitoring

Features that enable users to monitor the status of contracts.

Contract database

Contracts are stored and organized in a central repository.

VORs

Allows users to send/receive variation order requests and coordinate these with contracts.

Contract search

Users can easily look up contracts within the database.

Contract milestone reminders & alerts

Users can schedule reminders and/or trigger alerts according to contract milestones.

Custom contract reports

Users can create custom reports about the status of contracts, contract timelines, efficiency, and revenue tied to contracts.

Tracking contract status

Users can track the status of a contract as it moves through the approval process and beyond.

Salesforce integration

Integrates to Salesforce so that contracts are tied to contact’s CRM records.

Compliance check

Users can define and enforce complex business rules related to compliance regulations; helps automate or partially automate contract compliance check.

Tools and features to aid in contract management and formation.

Contract Storage

Centralized storage and management of all contracts in one place.

Ability to upload, organize, and track changes to contract documents.

Advanced Search and Filtering

Efficient search functionality and advanced filters to quickly locate specific contracts or clause language.

Version Controls

Ability to track and manage different versions of contracts, including changes made and the history of revisions.

Customizable Contract Templates

Pre-defined templates that can be customized for different types of contracts.

Workflow Acceleration

Streamline the contract approval process by automating workflows and notifications.

E-Signatures

Capability to electronically verify user signatures, eliminating the need for physical signatures and enhancing efficiency.

Reminders and Alerts

Automated alerts and reminders for important contract dates, deadlines, and milestones.

Analytics and Reporting

Generate reports and gather insights on contract status, performance, and compliance.

Integration with other Systems

Ability to integrate with other tools, such as CRM or ERP systems, to exchange contract data seamlessly.

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Leadmark TRAC Governance Cloud

Overview

What is Leadmark TRAC Governance Cloud?