The first best practice in our Contract Management Best Practices series requires leveraging a centralized and secure contract repository. Relying on manual and disparate systems - such as shared drives, emails, and spreadsheets – can cause you to fall into contract mismanagement pitfalls. Discover how contract management software can empower you to leverage a centralized and secure electronic contract repository.
Organizations of all sizes face the need to juggle multiple contracts simultaneously, with each contract being at a different stage of the contract lifecycle. Leading contract lifecycle management software is crucial in reducing risk, improving productivity, and maximizing a contract’s value. But what is contract lifecycle management? Read on to find out!
Managing contracts from requests to renewals can prove difficult when relying on primarily manual processes. Without accountability, visibility, a clearly defined strategy, and actionable insights, you can find yourself running into compliance issues, minimizing contract value, and encountering other setbacks. Read on to learn how leading contract management software can support each contract management best practice below.