SYSTEM AND METHOD FOR DYNAMIC TRANSACTION MANAGEMENT AND COLLABORATIVE AUTHORING OF A NEGOTIABLE DOCUMENT
A system and method for enabling coordinated, collaborative, data-driven document negotiation among multiple, divergent parties, either internally or externally, in a virtual environment. A comprehensive, singular, transaction management platform that transforms documents from a manual, text-based and paper-laden business and legal process into a data-driven experience via a negotiable transaction environment. The system streamlines and automates coordination of the life cycle of a binding document from deal origination to collaborative negotiation to executed agreement to archival to system-generated analytics. A term-based engine replaces the manual business and legal processes, and streamlines management of communication, approvals, signatures, commenting, recordkeeping and documentation. It provides a collaborative process for authoring text-based terms, as an alternative to an iterative, sequential drafting process; and an online, real-time searchable history of all changes for later discovery and/or compliance. As the system gathers data from transaction activity and final agreement, it dynamically builds workflow deliverables as well as analyzes resultant data and creates actionable business intelligence.