Contract administration can bring forth a host of challenges.
There needs to be an established plan and follow-through within a set timeline. Teams must track contract financials. There must be a plan for overseeing the contract lifecycle. Teams must have a plan for encountering risk variables.
Clearly, contract administrators have a lot on their plate. There is ample room for deleterious errors, contract risks, and bottlenecks – especially with manual contract methods. Fortunately, contract management software can help reduce the time-consuming need for manual processes. Here's how.