Spreadsheet-driven contract management processes are error-prone, time-wasting, inefficient, disorganized, and lacking in security. Such practices should stay in the past; contract management professionals should begin 2020 with practical, centralized, user-friendly, and scalable contract lifecycle management solutions.
Intelligent contract workflows help accelerate the contract lifecycle but must be used in combination with workflow escalations to achieve a completely streamlined process. You and your team may be 90% compliant with getting contract management tasks completed in a timely manner, but sometimes workloads change, and you may not get to complete that assigned task by its due date. Contract workflow escalations can help eliminate this challenge by having a back-up individual who can complete the task instead.
If you’re frequently encountering delays or bottlenecks at a particular step in your contract process, contract management workflow escalations can help eliminate the slow down.
The Challenge: Missed Renewals and an Inefficient Process
CobbleStone’s award-winning contract management software, Contract Insight™, is a fully configurable system, able to meet any industry’s needs with a few configurations. Both large and small educational institutions, from community colleges to leading universities, use Contract Insight as their preferred education contract management software. Learn from this real-world example how one of Washington’s largest higher education institutions chose Contract Insight as their contract management system and utilized the user-friendly software’s configurability to set up the system to meet their needs.
How many steps should be in a contract workflow?
The correct answer is: It’s dependent on your organization’s needs.
There is no set number of tasks for a “perfect workflow”. You must determine what steps are necessary and in what order they should be executed, establishing the best workflow for your organization to achieve CLM (contract lifecycle management) success.