What contract metrics should you track?
There is a lot of information to keep track of in your contracts, from sheer contract volume to contract value and cycle time, to name a few. Fortunately, with a dedicated contract lifecycle management program, businesses can accomplish these tasks and more. But, which metrics will aid businesses in unlocking contract values that have not […]
How To Create A Contract Repository
Contract Repository: Where To Start Creating a database to manage your contracts does not require expensive contract management software (though it is useful for a myriad of other functions). Contract and procurement teams can develop a simple contract repository with free templates so that contracts are neatly organized from the very beginning of their […]
How Has COVID-19 Effected In-House Legal Teams?
The COVID-19 pandemic has fundamentally changed many aspects of how we live our lives and operate our businesses. For example, in the past year, legal departments have set their sights on resource management and spending reduction. Partially due to the fact that COVID-19 restrictions have led to profit losses, legal departments have been forced […]
How In-House Teams Are Adapting During A Pandemic
The COVID-19 pandemic has fundamentally changed many aspects of how we live our lives and operate our businesses. For example, in the past year, legal departments have set their sights on resource management and spending reduction. Partially due to the fact that COVID-19 restrictions have led to profit losses, legal departments have been forced to […]
8 Questions to Ask When Auditing Your Contract Management Process
8 Questions to Ask When Auditing Your Contract Management Process How confident are you in your organization’s contract management process? Have you ever missed a contract renewal date or failed to comply with a reporting or payment obligation? Are you satisfied with your risk assessment and management processes and the amount of time your team […]
4 Contract Management Misconceptions To Leave In 2020
To better understand how contract automation can benefit your businesses in the coming year, it’s important to first break down the different misconceptions about contract automation. Misconception 1: Contract automation doesn’t affect all departments Contract automation benefits many business departments including sales, operations, procurement, finance, and HR. Fortunately, the world has evolved from a time […]
Choosing the Right CLM Partner
When it comes to resolving your company’s contracting challenges, the right contract management partner is critical. On top of organizing contracts and their deadlines, a good CLM program will help ensure the success of your company. Because there is a selection of CLM software on the market today, the right decision may be difficult […]
Presenting the Value of CLM
Presenting the Value of CLM It may be difficult to present the benefits of a contract life cycle management system to your superiors, especially during a pandemic when budgets are tight. By effectively describing the current issues that manual contract management presents, it becomes easier to present solutions. Offering these solutions can help decision-makers within […]
Does Your Business Need Contract Management?
Contracts are complex yet crucial in the intricate relationships between businesses. At a given time, companies may have hundreds or even thousands of contracts stored within their database or filing system. While having a plethora of contracts is a normal part of company processes, it’s important to ensure each contract is carefully organized. This is […]
Making a business case for contract management
If you’re reading this article, you might have recently taken on the task to find a contract management solution for your company or you might be looking for how to justify securing internal resources to centralize all of your contract data. It might also currently be your job to look after your business’s contracts and, […]
