How to Keep Track of Expiration Dates on Contracts

How does your team currently track important dates related to contracts? Spreadsheets or calendar reminders? Is there a single source of truth for every agreement or do teams keep them in separate trackers?

Whatever process your team uses probably involves several different tools and manual steps that can lead to problems. Contracts can expire or auto-renew without notice, which means unexpected service termination or avoidable penalties. The consequences can be particularly painful for legal or finance teams that are responsible for tracking many types of contracts across different lines of business.

If keeping track of contract dates feels impossible, you’re not alone. We studied the state of modern agreement management and found that roughly 50% of professionals are overwhelmed by the volume and complexity of their agreements. With so many important data points living across tools—some integrated with other systems, others disconnected entirely—it’s easy to fall behind.

Solution for tracking contract expiration dates: Docusign IAM

Intelligent Agreement Management (IAM) is a new category of AI-powered cloud software designed to connect and automate every step of agreement work. Docusign IAM includes an AI-powered repository that extracts key dates, like expirations, and a workflow automation tool that can automatically kick off renewal efforts.

Tracking expiration dates with Docusign IAM helps you:

• Renew service contracts before they lapse

• Cancel unused services before they automatically renew

• Initiate renewal negotiations on time

Navigator, an AI-powered agreement repository, does the heavy lifting to keep your teams informed and prepared for the key dates that matter to your organization. If an expiring agreement is valuable to your company and automatically renews, you can let it happen. If a vendor is falling short of your expectations, you can easily see how long you are committed to a relationship with them and plan a replacement. 

Maestro, an agreement workflow automation tool, connects all the technologies, people, and activities in the renewal process, so kicking off that workflow is as easy as a few clicks. Even if your workflow needs to involve traditionally complex steps like ID verification or notary services, Maestro can automate those steps to ensure the right activities happen in the right order.

With these tools, teams can sort their entire agreement portfolio by expiration date, access a prebuilt dashboard to prioritize clients and vendors, and receive automated renewal reminders.

See how more of what Docusign IAM offers with our free guided tour.