Many organizations understand the potential value, positive impact, and negative impact of their contracts. They reach a point where they’re committed to creating a strategic contract lifecycle management process that’s supported with the right contract software, tools, and people.
Running a small business is hard work. It can be taxing on your mental health when it feels like the weight of the entire operation falls squarely on your shoulders. When tasks are in large supply, but staff, resources, and bank accounts are limited, the stress of owning your own small business can seem overwhelming.
Contract management software from CobbleStone Software can go a long way towards cutting down the amount of underperforming contracts you have to deal with on a regular basis. When you deal with a large volume of contacts every day, there will always be one or two that just aren’t cutting it. Underperforming contracts can impact profits if not dealt with appropriately, so here are four tips you can use to handle a contract that isn't performing properly.
When managing contracts, performance monitoring is one of the most important ways to ensure your success. With a large variety of contracts, all with different terms, it can be difficult to know what exactly to look for when assessing each contract’s performance. Luckily, you can boil down the success of each contract, no matter the complexity, to four metrics.