Contracts are legally binding agreements that define and govern the exchange of goods or services. A contract’s journey – from creation to fulfillment and completion – is complex and leaves room for errors and oversights. As such, a process has been generally agreed upon for the handling of contracts. This process is referred to as contract management.
But what is contract management, and how can it be approached? Here’s what you need to know.
This article was originally published on October 14th, 2020 and updated on April 18th, 2022.
As a government contract manager in 2022, it would behoove you to explore the most up-to-date tools to streamline government contract management, purchasing, and sourcing processes - especially as the industry keeps evolving. To that end, here are six user-friendly government contract management software tools you can leverage to streamline your source-to-contract lifecycle management processes.
This blog post was updated on March 7th, 2021.
Contract termination should involve rigorous financial analysis, contract performance data analytics, and the creation of a notice of termination. With tight deadlines and specific terms required to terminate a contract, organizations need a strategy to identify contracts not meeting contract KPIs, write notices of contract termination, and secure proper contract closeout. This article will show you how to implement this strategy readily with the help of contract management software.
Contract creation management plays a vital role in the contract lifecycle, where contract contributors band together to form a cohesive contract. However - inefficient contract creation management can stem from unorganized contract templates, obsolete contract language, and subcontracts divorced from original contract versions. Read on to discover how leading contract management software can help streamline contract creation management in three steps.
