Review on Contractpedia by Nate Mims
Contractpedia is a cloud based platform that allows companies to create contracts and automate their business processes.
We use contractpedia for our company, the main reason was because we wanted to see where we stood with regards to our invoices. Our contract with our vendors states that we have 90 days to pay the invoice and if not paid within that time frame, the vendor gets legal action against us. This is a great tool for us to check if we have any outstanding invoices. Another thing that we like about contractpedia is that it allows us to automate processes such as paying invoices. In other words, if the payment process goes through successfully, it will record the transaction in our accounting software. Also, the app allows us to easily track our payments in real-time.
Pros
- Very easy to setup and configure
- We like how the system allows us to quickly check for invoices without having to log into our account portal each time we want to do this.
Cons
- Does not provide enough flexibility to add new vendors
- The system does not allow us to import contracts from an excel spreadsheet.
- No ability to export reports/data
