How to automate contracts for multiple parties

This week, Agiloft implementer Geoff Wilson hosted an in-depth training session on configuring Agiloft’s no-code CLM platform to handle multiple contract parties. While adding two or three counterparties is possible without much configuration, adding several additional parties creates an exponential web of complexity that most contract management systems cannot handle without months of code changes. Fortunately, Agiloft’s no-code platform gives admin users the power to map this complexity in their own systems. Let’s take a closer look at how this works below:

Simple solution: replicating existing fields to accommodate 2-3 counterparties

Building a CLM system for 2 or 3 counterparties training slide

The simple solution is suitable for a small, predictable number of counterparties. To accomplish this, admins must build additional linked sets that replicate the existing party or counterparty fields.

Complex solution: background tables

Building a dynamic multiple contract parties solution training slide

The more complex solution is suitable for contracts with many counterparties, or an unpredictable number of counterparties that can quickly change. This solution requires admins to build a flexible system using background tables to allow virtually any number of parties. This solution can also be configured to produce dynamic print templates with e-signature. For more on print templates, read our print templates documentation here.

Watch a replay of our latest training session to learn how to set up these solutions:

Join us for more training and informative webinars on contract management with the Agiloft Webinar Series. Watch past and upcoming webinars on our events and webinars page.