Contract Insights

The decision to “build or buy” contract management software in the healthcare industry is a huge step in the process towards greater organizational efficiency.  Decision makers for hospitals, medical centers, and health plans must make this choice for a wide variety of software types including but not limited to: contract management software, billing and invoicing software, customer relationship management software, human resources software, or identity management software. 

In the business world, every professional is aware of what “workflow” is. Contract approval workflow, from the outside looking in, is just a giant chart of approvals and signatures that makes us all wonder, “Is all of this really necessary?” Of course, workflows are essential to keeping the buoyancy in every organization around the world. Processes must be followed in order to keep consistent, optimal production levels.

Cyber-security has become a huge concern for businesses today.  More and more organizations are falling victim to cyber-attacks due to improper handling and storage of sensitive data as well as lower security precautions. Our modern dependence on the convenience and connectedness that technology allows has made organizations more vulnerable to security risks. These threats have become so widespread that President Obama issued an executive order earlier this year mandating stricter cyber-security regulations and imposing stricter sanctions on organizations that engage in cyber-attacks that threaten national security and infrastructure.

No matter what industry you operate in, no matter what the economic landscape is, and no matter where you do business, ROI is critical. Contract lifecycle management software helps organizations across the world see a real return on investment. It really is a beautiful thing- leveraging technology to help manage your organization at a lower cost.

How does a CLM product provide return on investment? The following acts as an incomplete list that shows the real ROI possibilities when choosing an industry leading contract management software solution: