Difficulty and confusion arise when an organization’s contract management software and its CRM (Customer Relationship Management) system function separately. The romance between these two symbiotic partners must not be compromised and should be preserved for contract management success.
Managing contracts takes a lot of time and effort, especially with the economy booming as we lead in to the year 2020. With this increased workload, contract managers need smarter ways to manage their contracts better. Legal professionals carefully review contracts with a sharp eye for details, excellent reading skills, deep comprehension, business acumen, and sufficient time management skills, but their process can be improved even more with new advancements in contract lifecycle management.
Healthcare organizations and large health systems face ever-thinning margins and an industry-wide move away from fee-for-service contracting models to complex, value-based contracting models and reimbursement structures. Most of these organizations still take a manual approach to managing hundreds to thousands of payer contracts, provider contracts, vendor contracts, and more.
Contract management professionals oversee important contracts and agreements with sensitive data, clauses, details, and information. Given the importance that such classified data is kept confidential, rules pertaining to data access and classification must be precisely and carefully reviewed. Learn how AI-based contract management software can help contract managers to categorize, safeguard, and protect data.
A variety of industries such as banking, insurance, real estate, private equity, stockbroking, and venture capital make up the financial industry – all of which keep businesses of every sector seamlessly operating every day. Given the high-risk and high-value nature of the contracts they manage, the need for adherence to a variety of compliance regulations, and a critical necessity for contract security and accessibility, BFSI organizations are encouraged to leverage cutting-edge software for efficient contract generation, next-level security and visibility, and a holistic and unified compliance management system.
Contract management conferences are a great opportunity for contract administration, legal, procurement, and government professionals to learn best practices and keep current with industry trends, discover new technology, and network. Contract volumes and complexity are increasing rapidly across most industries, so don’t miss the opportunity to find new ways to take control of contracts and integrate emerging contract management technology. Here is a list of 2020’s top ten contract management conferences.