Contract Insights

As ESG (environmental, social, and governance) variables continue to play an integral role within organizations and serve as a prioritized component within business decision-making, ESG clauses in contracts are increasingly at the forefront of contract negotiations and compliance. 

Without the right contract management tools, ESG contract clause language can elongate negotiations and cause post-award compliance tracking difficulties.

Fortunately, AI-backed contract management software offers unique tools for reducing pre-award and post-award ESG contract clause bottlenecks so your team can address ESG principles and ESG goals. Read on to learn how.

Healthcare contract management relying on manual processes can reduce efficiency for healthcare contract stakeholders, decrease revenue, and increase liability.  Contract lifecycle management bottlenecks can decrease the efficiency of resources, compromise contract security, and disorganize crucial data.  Read on to learn how to leverage six healthcare contract management software tools for stronger contracts.

Government contract management is divided into three stages: procurement or acquisition planning, sourcing, and post-award contract management. 

The first two stages have had the most focused time and financial investment for improvement.  This approach leaves post-award management as a secondary duty for contract officer representatives (CORs) and contract managers within legal teams. Consequently, they are left unsupported for compliance, risk management, and opportunity realization. 

Arguably, contract processes after acquisition and sourcing are the most crucial stages for public-sector and private-sector contract managers. However, these stages notoriously lack proper visibility and resources.  This article will address the challenges and present actionable post-award contract management best practices with the help of contract management software.

Contract compliance is crucial for the success of a contract – and sets the stage for contract renewals. Unfortunately, many organizations are (sometimes unwittingly) exposing themselves to financial risk, breaches of contract, and legal penalties. Contract compliance mistakes can lead to contract failure, data leakage, a shattered reputation, lawsuits, and more.

Contract managers need to know their mistakes in order to correct course. As such, here are six contract compliance mistakes you might not know you’re making.