U.S. Federal Contractors - no matter which government agency or department they are contractually involved with - can face several challenges throughout the contract lifecycle. With many different tasks to perform, there is a lot of room for errors or missteps that may lead to contract lifecycle bottlenecks, compliance challenges, regulatory violations, wasted time, and lost revenue. Luckily, government contract management software can help. Here’s how.
Nursing home networks face a unique set of challenges around healthcare contract management. Since they are subject to strict laws and regulations, nursing homes need to be vigilant when establishing and maintaining contracts - as to avoid litigation costs, witness depositions, and the frantic retrieval of mismanaged contracts. With disorganized or manual processes, nursing homes increase the risk of lawsuits, misplaced documents, data entry errors, contract lifecycle bottlenecks, damaged reputation, wasted time, and revenue loss. Luckily, contract management software can help nursing home networks establish a seamless contract lifecycle, remain compliant, reduce wasted time, unify and secure documents, efficiently and accurately enter data, and manage contracts with varying complexity and volume. Here’s how.
There is a significant need for automation in contract management software processes. When collaborating within the contract management community, we often find that most organizations do not currently leverage meaningful automation for better contract management. Yet, most organizations have developed or plan to develop strategies to implement contract automation. It is clear to see that the industry is evolving in favor of contract automation. Don't get left behind. Get ahead with robust and user-friendly contract management software. Here's how.
Vendor, customer, and employee compliance management are essential for organizations to maintain adherence to compliance standards, mitigate risk, and uphold their reputation. However, as contract volume grows, it can be difficult for organizations to track the records of vendors, customers, partners, and employees regularly. To achieve and maintain compliance, it is paramount that organizations, regardless of industry, remain aware of violations committed by entities they are performing business with. Such violations include failure to adhere to economic and trade sanctions under The Office of Foreign Assets Control (OFAC). Contract management software with intelligent national sanction compliance checks and risk analysis snapshots can help organizations to avoid these issues by providing them with a comprehensive and centralized OFAC search process.