Ticketing for Contract Management: A Must-Have Tool

Ticketing for contract management helps organizations coordinate tasks, track progress, and streamline communication. Learn more and get a free demo.

A ticketing system is a valuable tool for managing service requests and keeping track of progress. In this blog post, we'll dive into the benefits of using a ticketing system and how it can streamline communication and organization within a company.

What is ticketing for contract management?

A ticketing system is a management tool that processes, catalogs, and manages service requests from submission to resolution. As organizations grow, coordinating tasks across different groups typically becomes unmanageable by email. Ticketing systems have long been used by IT help desks and IT development teams to help manage workloads and provide visibility across the organization.

Ticketing software takes all service requests and converts them into a single point of contact. Tickets identify the source and nature of the requests, who will be in charge of them, their status, and the due date. The system can also develop customized KPIs to be able to measure performance metrics as well as extract a wealth of data.

Akorda’s request management system automatically organizes and prioritizes support requests in a central dashboard. Users can tag, categorize, and assign tickets upon receipt. Each request displays the ticket status and its percentage of completion so that you can keep tabs on active requests. The platform also serves as a hub for responses, streamlining communication between contract professionals, and other stakeholders such as sales, and counterparties. Furthermore, in the case of contractual requests, the ticket’s status will automatically be updated to reflect changes to the document in question.

For example, contract professionals can use the request system to view tickets assigned to them, prioritize their work, and ensure that no deadlines are missing. Managers can view all tickets track progress, identify bottlenecks, and, if appropriate, reassign tickets to available resources.

How does legal ticketing work?

1. Create a request and generate a ticket

The first step is to create a request. Akorda provides a number of pre-built requests, such as requesting a new contract, reviewing an inbound contract, creating an amendment, or some other type of request. In each case, the user is guided through a series of questions to initiate the request appropriately. 

2. Assign and track the request

Each request ticket contains detailed information about the request, to whom it is assigned, and the request timeline. The ticket also collects any relevant attachments for each access.

3. Monitor all requests

All tickets are aggregated in a comprehensive dashboard that can display either the user’s requests or all requests. In addition, users can search for specific tickets.

 4. Extract Data

The system is able to pull out a variety of data from the tickets, as demonstrated below:

Why use a Request System?

Now, and for the first time, all contractual and non-contractual requests can be managed from a single location. This allows Managers to get insights into bottlenecks and implement procedures to refine their use of resources based on real time data. Other benefits include:

  • Organize high volumes of requests in a centralized system.
  • Consolidate interactions into one thread.
  • Maintain customer service standards.
  • Provide context for requests.
  • Improved communication between contract professionals and others
  • Easy and efficient team collaboration.
  • Automate procedures and manage workload
  • Increase efficiency, productivity, and speed to execution
  • track key service metrics

Click here to arrange a demonstration of Akorda’s powerful, new CLM tool.

Kingsley Martin

Kingsley is a founder of Akorda. He holds law degrees from Oxford University (First Class Honours) and Harvard Law School, and has 30 years of experience in the practice of law, software design and development, strategy, and management. Kingsley pioneered the new discipline called contract analysis. He is a founder of KMStandards and has developed software capable of automatically analyzing legal agreements and creating contract standards.

How Telos is using Akorda

Telos is a 770 person rapidly growing organization that mainly works with governments and agencies. The company is the global leader in enterprise, cyber and cloud security.
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About Akorda
Akorda is a CLM platform that accelerates the contract process for teams within a unified workspace, using AI to speed up legal review and negotiation time.
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