Contract Insights

This blog post was updated on March 9th, 2022.  Its original publication date was February 4th, 2019.

Contract tracking can be a significant challenge for legal teams, contract managers, and other industry professionals.  Manual contract management processes may suffice for organizations with low contract volume and contract complexity.  However, when the number of contracts increases to hundreds, thousands, and beyond, contract failure rates increase exponentially.  Read on to learn how to master contract tracking with leading contract management software.

Clause management can be challenging for contract, procurement, and legal professionals.  Manual contract administration tools such as spreadsheets, emails, and disconnected software tools prove to be less than effective or efficient ways to generate optimal contract documents and clauses - and rarely lead to fast approvals.  Contract clauses can support standards and reduce contract risk and, when used to their potential, can positively impact your contract management process.  Learn how to master contract clauses in this blog.

Generation of contracts can be challenging for contract, procurement, and legal professionals.  Manual contract generation can be tedious, time-consuming, and error-prone.  Moreover, a manual approach to document assembly can inadvertently put organizations in the precarious position of facing significant process bottlenecks, compliance issues, risks, fines, or legal ramifications.  It’s time to take control of contract generation.  Learn how to transform your manual contract generation process into a value-centric strategy with the help of leading contract management software.

The contract approval process can prove challenging for many contract management and contract administration professionals.  Without the proper contract lifecycle management tools in place, bottlenecks and human error can lead to longer contract lifecycle times. Delayed contract approvals may fail to meet business rules, business processes, and business and regulatory compliance standards - potentially leading to missed opportunities for time-sensitive pricing options and special terms.  The challenges and problems of inefficient contract administration are apparent, but what are the root causes of the issues with contract approvals?