Contract Renewals: Mastering Contract Management Series

    By Sean Heck on 09/7/23

    reading-minutes-icon-one-color 4 min read

    Manual renewal methods with spreadsheets, emails, emailed reminders, and wet signatures may suffice for organizations with low contract volume and complexity.  

    Unfortunately, organizations managing thousands of contracts of ranging types can face challenges.  Moreover, such an outdated contract renewal strategy can increase the risk that a contract expires with a desired renewal having been overlooked.  It's time to take control of how you manage contract renewals.  Read on to learn how to leverage contract renewal process best practices with contract management software.

    Continue Reading

    The 8 Stages of the Contract Lifecycle

    By Jamie Reedy on 03/8/23

    reading-minutes-icon-one-color 4 min read

    Contracts are legally binding - and thus need to be executed properly.  Legal teams should equip themselves with a thorough understanding of the contract lifecycle.  The contract lifecycle is the process under which a contract is authored, reviewed, sent for signature, executed, and - potentially - renewed. 

    The "lifecycle" is an archetype used to compartmentalize and understand a contract's complex evolution.  The lifecycle begins with contract requests and concludes when these requests are fulfilled - with the possibility of managing contract renewal.  Let's further explore the eight stages of the contract lifecycle below and how contract management software can help streamline your contracting processes. 

    Continue Reading

    Reap the Rewards of Post Award Contract Management

    By Maria Votlucka on 10/24/22

    reading-minutes-icon-one-color 6 min read

    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.

    Continue Reading

    What is Contract Lifecycle Management?

    By Sean Heck on 06/28/22

    reading-minutes-icon-one-color 8 min read

    Organizations of all sizes face the need to juggle multiple contracts simultaneously, with each contract being at a different stage of the contract lifecycle.  Leading contract management software reduces risk, improves productivity, and maximizes a contract's value.  But what is contract lifecycle management?  Read on to find out!

    Continue Reading
    Website Graphics_Collage for Website Module copy
    RESERVE MY SEAT
    REGISTER TODAY

    Lists by Topic

    see all

    Posts by Topic

    see all