Disorganized document and contract storage, workflows relying upon phones and emails, and manual document writing solutions won’t suffice in 2020. Don’t slip back into the success-minimizing habits of 2019. Revive your contract management new year’s resolution for this year with a process that leverages a secure contract repository, automated workflows, and streamlined document assembly.
Manual drafting processes, unsystematic document and contract storage, and workflows involving emails and phones lead to contract lifecycle bottlenecks, wasted time, and squandered opportunities. Contract management software can help alleviate these issues so that education professionals can take control of their contracts and “ace” contract management best practices.
Many organizations have integrated technology to streamline processes and improve productivity but still rely on a manual approach to contract and document storage. Storing documents and managing contracts may involve filing cabinets, massive stacks of files and papers, emails, and some rendition of a digital filing system. This approach makes it nearly impossible to keep contracts secure, retain version control, stay on top of key dates and milestones, or enforce contract archiving and retention rules. Storing contracts may sound like a simple task, but without a secure contract repository, organizations are missing the critical element that can support their ability to have control over contracts, reduce risk, and improve contract performance.
New Year Goals
The new year is hastily approaching, with resolutions swarming the office, and employees thinking about the months ahead. For contract and procurement managers, there are most likely processes within your organization that you and your team hope to improve. Whether your focus is compliance, communication, or overall better management processes, 2019 will be here before you know it, so why not be proactive with your new year goals and start preparing now?