Are you a small business owner? Do you manage contracts in a small business? Regardless of the position or size of the small business you are a part of, contracts are integral to your organizational processes. From client contracts to employee contracts - among many others - small business contract management KPIs can be hindered by contract non-compliance, disorganized pre-award contract processes, missed contract renewal opportunities, and more – without the proper contract management system in place. Read this blog to learn how to transform your process for streamlined, user-friend, and success-driven small business contract management.
Organizations of all sizes face the need to juggle multiple contracts at a time, with each contract being at a different stage of the contract lifecycle. Leading contract lifecycle management software is crucial in reducing risk, improving productivity, and maximizing a contract’s value.
Manual contract management processes involving spreadsheets, emails, internal billing systems, and Outlook reminders may suffice for organizations with a low volume of contracts. Unfortunately, when organizations manage thousands of contracts, challenges are revealed due to a time-consuming, error-prone, and inefficient manual contract renewal process. Moreover, a reactive contract renewal strategy increases risk and decreases opportunity realization. It’s time to take control of contract renewals. Learn how to digitally transform your processes from contract generation to renewal.