fynk fynk Logo
EN · DE

fynk contract management blog

All you need to know about contract management - from drafting to signature. The fynk blog contains all kinds of useful insights to support you along the way.

Blog post cover image: cover.jpg

How to Write a Great NDA? + Checklist

Want to create a great Non-Disclosure Agreement (NDA) to protect your valuable data? Writing a comprehensive NDA requires careful consideration; from choosing between unilateral and mutual NDAs to ensuring all necessary …

Portrait:

10 min read
Blog post cover image: cover.jpg

15 Types of Contracts and Agreements+Templates

No business runs smoothly without concrete contracts and agreements. No matter how small or big your business is, contracts help you set terms and conditions to protect your interests and ensure a smooth operation. …

Portrait:

12 min read
Blog post cover image: cover.jpg

We're Empowering Non-Legal Teams with AI-Driven Legal Workflows: fynk Raises €3.1 Million Seed Round

We are thrilled to announce that fynk has raised €3.1 million in a seed round led by 3VC, with co-investment from 10x Founders. Our existing investors also participated, reaffirming their belief in our mission. This …

Portrait: Constantin WintoniakPortrait

Constantin Wintoniak

6 min read
Blog post cover image: cover.jpg

How to Manage Contracts with an Excel Template? [2024 Update]

Managing contracts is not easy, but with the right contract management template Excel, managing and renewing contracts can be simplified. While we generally recommend using modern contract management software like fynk, …

Portrait: Markus PreslePortrait

Markus Presle

7 min read
Blog post cover image: cover.jpg

Signature Forgery Explained - Types, Risks, and Protection Tips

Signature forgery is the unauthorized imitation or duplication of a person’s signature to commit illegal activities like fraud or identity theft. The forger may fake the signature on paper or digitally, often resulting …

Portrait:

9 min read
Blog post cover image: cover.jpg

Authority Signatory - Who, Why, & How to Authorize?

An authority signatory is someone in a company who has the official and legal power to sign documents, approve spendings, and make important decisions. They are responsible for all financial and contract-related actions …

Portrait:

11 min read
Blog post cover image: cover.jpg

Contract Management Checklist: From Initiation to Renewal

Contract are backbone of any business and to run a smooth one, you need to keep track of the process efficiently. From the preparation and execution to renewal and monitoring stages, there are many things that you need …

Portrait:

8 min read
Blog post cover image: cover.jpg

What Makes a Contract Enforceable? 7 Important Criteria

An enforceable contract is a valid, legally binding agreement between parties that can be upheld in a court of law. It needs to fulfill several conditions, such as a clear offer and acceptance, mutual consent, …

Portrait:

7 min read
Blog post cover image: cover.jpg

Demystifying Legalese: Your 2024 Guide to Simplifying Legal Language

Legalese often complicates legal documents with its dense and complex language. Our guide helps you understand, speak, and simplify legalese, ensuring clarity in your contract management processes.

Portrait: Felix ScholzPortrait

Felix Scholz

7 min read
Blog post cover image: cover.jpg

fynk launches on ProductHunt a Product of the Day!

We are thrilled to announce the public launch of fynk! Our hard work has paid off, earning us a top position in ProductHunt’s prestigious Product of the Day competition.

Portrait: Felix ScholzPortrait

Felix Scholz

2 min read
Blog post cover image: cover.jpg

Contract Renewal vs. Contract Extension: A Comprehensive Guide

Explore the distinctions between contract renewal and extension, including their advantages and drawbacks, along with practical examples that help in making informed decisions in contract management. This guide offers …

Portrait: Felix ScholzPortrait

Felix Scholz

10 min read
Blog post cover image: cover.jpg

Contract Breach: A Comprehensive Guide to Forms, Consequences, and Prevention

Discover the different forms a contract breach can take, the legal and financial consequences that result, and how effective contract management can help you minimize risks and act more securely. This guide offers …

Portrait: Felix ScholzPortrait

Felix Scholz

6 min read
Blog post cover image: cover.jpg

Severability Clause: Essential in Every Contract

In a world where legal uncertainties and changing conditions are part of daily life, the severability clause is an indispensable component in contract drafting. This guide traverses the complex terrain of contract law to …

Portrait: Felix ScholzPortrait

Felix Scholz

15 min read
Blog post cover image: cover.jpg

What does 'commencement date' mean?

The commencement date is the time or date that a contract becomes officially effective and therefore, legally binding. This guide demystifies the concept, offering clear definitions, the distinction from effective dates, …

Portrait: Felix ScholzPortrait

Felix Scholz

8 min read
Blog post cover image: cover.jpg

Mastering Digital Contract Management: A Comprehensive Guide

In today’s fast-paced business environment, managing contracts efficiently and securely is more important than ever. Digital contract management provides a streamlined, intelligent approach to handling every aspect …

Portrait: Felix ScholzPortrait

Felix Scholz

8 min read
Blog post cover image: cover.jpg

Difference Between Contract and Agreement

Contract or agreement? If you’ve ever wondered what exactly the difference between an agreement and a contract is. While the two share similarities and overlaps, they also have important differences. In this …

Portrait: Felix ScholzPortrait

Felix Scholz

9 min read
Blog post cover image: cover.jpg

Freedom of Contract: Comprehensive Guide - Meaning & Examples

Freedom of contract means parties can independently and fairly negotiate and set their own terms, conditions, and responsibilities without the government restictions. Although this freedom seems the opposite of …

Portrait: Felix ScholzPortrait

Felix Scholz

10 min read
Blog post cover image: cover.jpg

Understanding Wet Signatures: Meaning, Importance and Evolution

A wet signature refers to physically signing a paper document by hand with a pen, ink, seal, or other identifying mark. While wet signatures have largely been replaced by electronic signatures, they are still required …

Portrait: Felix ScholzPortrait

Felix Scholz

14 min read
Blog post cover image: cover.jpg

How Contracts Are Usually Signed

Contracts are usually signed either physically (handwritten) or electronically, by all involved parties to confirm their agreement to the terms. Each party typically signs on designated signature lines, along with the …

Portrait: Felix ScholzPortrait

Felix Scholz

8 min read
Blog post cover image: cover.jpg

Mastering the Art of Bartering: A Modern Guide to Ancient Exchanges

In an era where digital transactions and virtual currencies dominate, the ancient practice of bartering is experiencing a renaissance. This timeless method of exchange, where goods and services are traded directly …

Portrait: Felix ScholzPortrait

Felix Scholz

12 min read
Blog post cover image: cover.jpg

How to sign on Behalf of Others: p.p., for/on behalf of, etc.

Correctly using abbreviations like p.p., for/on behalf of, and as authorized agent while signing on someone else’s behalf is crucial. It’s not just about formal correctness, but also clarifying legal powers …

Portrait: Felix ScholzPortrait

Felix Scholz

11 min read
Blog post cover image: cover.jpg

The Best AI Contract Management Assistants for ChatGPT Users in 2024

In this article, we explore the top AI contract management tools for ChatGPT in 2024, tailored for SMEs seeking to streamline their contract processes. We showcase how these tools simplify legal document drafting, …

Portrait: Felix ScholzPortrait

Felix Scholz

3 min read
Blog post cover image: cover.jpg

Revolution of the legal system: Legal AI

In a world where technology is permeating almost every aspect of our lives, the legal industry is not immune. The advent of artificial intelligence (AI) has unleashed a transformative wave that is not stopping at the …

Portrait: Markus PreslePortrait

Markus Presle

2 min read
Blog post cover image: cover.jpg

Contract Administration Software: Governance & Compliance

Contract Administration Software is not merely a tool, but an essential strategic component of modern business management. The implementation of such solutions enables companies to optimize their contract management and …

Portrait: Markus PreslePortrait

Markus Presle

3 min read
Blog post cover image: cover.jpg

Efficient proposal generation thanks to contract management software

In today’s competitive business environment, efficient and accurate proposal generation is critical to a company’s success. Traditionally, quotes have been created manually, which can be time-consuming and …

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

Importance of Contract Monitoring: Risk Management

This blog post highlights the importance of contract monitoring for effective risk management in businesses. It minimizes financial risks, ensures legal compliance, and improves business relationships. Investing in …

Portrait: Markus PreslePortrait

Markus Presle

2 min read
Blog post cover image: cover.jpg

Corporate Housekeeping: The Key to Success and Compliance

Corporate housekeeping is critical to the success of any business. It involves keeping accurate records, monitoring compliance with legal and regulatory requirements, and implementing good corporate governance practices. …

Portrait: Markus PreslePortrait

Markus Presle

2 min read
Blog post cover image: cover.jpg

Legal Design: Making complex simple

The legal system is widely known for its complexity, which makes it difficult for people without a legal background to navigate and understand. In a society where access to justice is a fundamental right, it is …

Portrait: Markus PreslePortrait

Markus Presle

3 min read
Blog post cover image: cover.jpg

How a contract generator can save time and effort

In this blog post, we take a closer look at the benefits of using a contract generator, staying compliant, and choosing the right one for your business. Whether you’re a small business owner, a freelancer, or a …

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

Potential of Chat GPT in the legal industry

Chat GPT 3 and other artificial intelligence and natural language processing technologies are beginning to transform the legal industry. Despite fears of job displacement, it is important to recognize that these …

Portrait: Markus PreslePortrait

Markus Presle

6 min read
Blog post cover image: cover.jpg

Contract Management Software Comparison: TOP15 Vendors

Contract management software is an indispensable tool for companies looking to streamline the process of contract creation, execution and maintenance. It can help companies save time and reduce the risk of errors by …

Portrait: Markus PreslePortrait

Markus Presle

3 min read
Blog post cover image: cover.jpg

Contract management responsibilities: Overview & analysis

Contract managers play a critical role for an organization by managing and monitoring contracts throughout their lifecycle. For example, they serve as a liaison between companies, employees, customers, suppliers and …

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

Contract Creation: 8 Ways to optimize

There are many benefits to fully coordinating all contract management processes. By optimizing the contract creation and approval phases, contract management processes can be made sound and efficient at the same time.

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

Contract negotiation: How to negotiate in the 21st century!

Contract negotiation hasn’t changed since the advent of email, but new technologies are making it faster, smarter, and less risky. In this article, we explain what it is, why traditional approaches introduce …

Portrait: Markus PreslePortrait

Markus Presle

5 min read
Blog post cover image: cover.jpg

Contract Management Security: 5 Best Practices

All sensitive information of a company is contained in its contracts. Therefore, contract management security is enormously important for companies of all sizes, but at the same time it is often a major vulnerability.

Portrait: Markus PreslePortrait

Markus Presle

6 min read
Blog post cover image: cover.jpg

Contract Management Process: how the optimal process looks like

The contract management process is the foundation of every contract and therefore critical to successful contractual relationships. Streamlining the workflow of this normally time-consuming process comes with significant …

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

Digital contract signing: This is what you need to consider!

A contract is only valid if all parties involved sign the agreement. Only with a valid signature does a contract have legal force. Therefore, it is important to consider some points when using digital contract signing.

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

Legal automation: The future of law

Legal automation is the use of software and technology to streamline, manage, and execute legal tasks or workflows in order to increase efficiency.

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

What is contract automation and what are its benefits?

Contract Automation is the process of optimizing the creation, management and execution of contracts through digitization and automation. It simplifies and streamlines the process of creating contracts.

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

Contract management: 4 steps to optimization

Proper contract management helps meet deadlines and increase productivity while reducing liability issues. Every company needs streamlined contract management - here’s how to successfully improve your contract …

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

Contract management via Excel: Why this is not a good idea!

For most companies, Excel usually plays a role in contract management at some point. Excel is one of the most accessible and widely used software programs in the world, yet it is far from optimal for effective contract …

Portrait: Markus PreslePortrait

Markus Presle

3 min read
Blog post cover image: cover.jpg

What is digital contract management?

In business, a lot revolves around contracts. And contracts pile up as companies grow and the number of transactions increases. That’s when companies realize they need a system to store, track and analyze contracts …

Portrait: Markus PreslePortrait

Markus Presle

3 min read
Blog post cover image: cover.jpg

Drawing up a contract: 9 steps to create an effective contract

A contract should clearly identify the parties, detail obligations, specify payment terms, outline duration and deadlines, include termination conditions, address dispute resolution, and provide signature lines for all …

Portrait: Markus PreslePortrait

Markus Presle

7 min read
Blog post cover image: cover.jpg

How contract management software reduces costs

From small businesses to large corporations, companies of all sizes rely on contracts to protect themselves and manage every aspect of day-to-day operations. Deliveries to customers, services from suppliers, leases for …

Portrait: Markus PreslePortrait

Markus Presle

3 min read
Blog post cover image: cover.jpg

Artificial Intelligence and Automated Contract Review

Contract review technologies have been around for years, but they have primarily been used to store and organize contracts. But more innovative tools are now available to companies that eliminate the tedious, manual, and …

Portrait: Markus PreslePortrait

Markus Presle

2 min read
Blog post cover image: cover.jpg

Contract management vs. document management

There is much confusion between the definition of contract management and document management. Some people use the terms interchangeably, while others consider them to be completely different solutions. So what is the …

Portrait: Dominik HacklPortrait

Dominik Hackl

6 min read
Blog post cover image: cover.jpg

Contract management software as the basis of business success

Contract management software makes it possible to ensure that a company’s entire contract lifecycle is flawless and legally compliant. In this blog post, we’ll explain the benefits of contract management …

Portrait: Markus PreslePortrait

Markus Presle

6 min read
Blog post cover image: cover.jpg

The 8 phases of contract management

Effective contract management can essentially be divided into eight phases. The following article provides an overview of these phases and outlines the lifecycle of a typical contract.

Portrait: Markus PreslePortrait

Markus Presle

4 min read
Blog post cover image: cover.jpg

Contract management vs. contract lifecycle management (CLM)

Although contract management and contract lifecycle management seem synonymous at first glance, they are not interchangeable. When looking for ways to improve legal workflows in an organization, it is important to know …

Portrait: Markus PreslePortrait

Markus Presle

3 min read
Blog post cover image: cover.jpg

8 advantages of contract management software

Contract management software serves as a central software for companies to handle all their contract processes. It connects with existing systems, automates the entire contract lifecycle, and improves contractual …

Portrait: Constantin WintoniakPortrait

Constantin Wintoniak

4 min read
Blog post cover image: cover.jpg

What are the benefits of document automation?

Automation is becoming increasingly important in everyday business. Attached are some reasons why companies are turning to this technology to create and manage documents in an automated way.

Portrait: Markus PreslePortrait

Markus Presle

1 min read
Blog post cover image: cover.jpg

What is Contract Redlining?

Contract negotiations can be incredibly complex. Many contracts are sent back and forth between different parties several times before they are finalized. This back and forth is called “redlining” and is …

Portrait: Constantin WintoniakPortrait

Constantin Wintoniak

10 min read
Blog post cover image: cover.jpg

Why is contract lifecycle management so important?

Contracts go through a long journey, with numerous stages between creation and execution. Without proper contract lifecycle management, a company can be exposed to serious financial and operational risks. Especially when …

Portrait: Constantin WintoniakPortrait

Constantin Wintoniak

1 min read
Blog post cover image: cover.jpg

What is legal document automation?

Legal document automation is a blessing for law firms, legal departments and even users of legal services. In the past, legal departments spent countless hours creating and managing legal documents. But with the advent …

Portrait: Markus PreslePortrait

Markus Presle

3 min read
Blog post cover image: cover.jpg

Why contract management streamlines processes

Regardless of the industry, contract management is an essential part of any business. Contracts form the backbone of daily business operations and are an important risk management tool. As a company grows, so does the …

Portrait: Markus PreslePortrait

Markus Presle

3 min read

Your workflow. Supercharged.

Reduced costs compared to manual processes
Saved time when processing contracts
Faster deal-closing time

Boost your productivity. Get started with fynk today.

Companies using fynk's contract management software get their work done faster than ever before. Ready to give valuable time back to your team?

Schedule demo
fynk Application Screenshot