Alerts help organizations deal with contracts by streamlining the administration process. They assist in tracking contract statuses, renewals, and amendments, allowing for efficient management of contractual agreements.
Alerts can be set to notify contract managers and stakeholders when contracts are nearing their termination or expiration dates. This allows them to promptly take appropriate actions, such as initiating contract renewals or renegotiations. Notifications can be used to remind contract managers about upcoming renewal deadlines. This helps them proactively engage with the relevant parties and initiate discussions well in advance to ensure a smooth renewal process.