Excel may seem simple, but it hides many potential “traps.” Below are the 7 most common mistakes businesses make when managing contracts with Excel.
1. One file per department
→ Data is not synchronized, leading to duplication and inconsistencies.
2. No restriction on editing permissions
→ Anyone can edit, delete, or change contract information.
3. No change history tracking
→ When disputes arise, it is impossible to know who changed what, when, and how.
4. Tracking contract deadlines with manual notes
→ Very easy to forget, especially when handling dozens of contracts at the same time.
5. Sending Excel files via email
→ Extremely high risk of data leakage.
6. No integration with accounting or sales systems
→ Data must be re-entered multiple times, increasing errors.
7. Over-reliance on a single employee
→ When that person leaves, contract data becomes chaotic.
The complete solution to these 7 mistakes
Only a dedicated contract management software system can fully address them by providing:
- Detailed access control
- Automatic alerts and reminders
- Full system activity logs
- Seamless integration across departments
Contract management system here