Many businesses’ operations and compliance processes depend on annual tasks being completed correctly and in a timely manner. Whether it’s contract and license renewals, procedure renewals, or internal and industry certification requirements, there is little room for delays or errors. Treeno Software offers Electronic Document Management solutions designed to help clients with renewal management tasks, providing a simple, cost-effective solution to maintain accreditations and certifications, ensure contracts are renewed, meet annual licensing or registration update requirements, and ultimately protect clients’ interests.
The Risk of Handling Renewal Management Manually
The reality is that any time a process involves multiple human interactions or depends on manual reminders, there’s a very real risk that something will break down with the renewal management process.
When organizations rely on internal spreadsheets, calendar reminders, or paper-based systems, the risk of missing a renewal deadline is very real. Delays can be costly. In the context of contract renewals, a delay could mean missing out on contract incentives or concessions. With certifications or license renewals, delays can result in regulatory fines and reputational risk.
Automated Reminders Ensure Renewals are Processed in a Timely Manner
Automating the renewal management process means you are essentially removing the element of risk that comes from too much reliance on humans to remember to send out certifications to users, or to send a contract renewal notice to vendors or third-party service providers. With automated processing, you determine up-front what those renewal periods should look like and which areas of your company “own” or have responsibility for various parts in the process. From there, the system does the rest.
Case Study: Certifications
For example, let’s say your company requires employees to complete an annual certification each year by the end of the year. Depending on how an employee answers certain questions, their certification form may need to be escalated for review by a higher-level supervisor or the compliance department.
When you use a manual certification process, staff has to prepare the certification forms and distribute them. Then comes the waiting and follow-up periods, not to mention staff hours spent poring over responses and determining whether escalation is warranted. There are several spots in this process that can be problematic, where things can be missed or the proverbial ball can be dropped, leading to potential risk for your company.
With automation, your company’s forms are designed with smart logic that automatically routes them to the next-level reviewer depending on how questions are answered. The system – not employees – can send automated reminder messages if a certification deadline is approaching and someone hasn’t turned in their form yet, as well as sending “late” notices to stragglers.
Reduce Your Risk and Ensure Renewals are Managed Appropriately
If your company has not implemented automation for its renewal management programs yet, there is much to be gained from doing so. To learn more about workflow automation and electronic forms, and to discover if this solution might be the answer you’ve been searching for to make year-end renewals faster, smoother, and less risky for your organization, contact Treeno Software today.