Create a new SharePoint site or use an existing one. 2. Set up document libraries to store contract documents. 3.The basic setup is a simple library which uses a document set for each clients. This document set can hold contracts, statements of work etc. Discover how to manage contracts in SharePoint without switching between multiple different tools in this Juro howto guide. Microsoft SharePoint stands out as the perfect tool for contract management to create, review and approve contracts, streamlined workflows and audit trails. I'm working with a contracts AI company to do some market research on how in-house legal teams are using SharePoint to manage their contracts. Create a new document library for contracts. On your SharePoint Contract Management System, contracts are easily routed to the right party at the right time to complete various tasks. You may need to access documents from anywhere in the world at any time all while increasing data security for your legal team and company.