Contract Insights

Retail property management organizations often need to handle many different types of requests and contracts – including construction contracts, leases, rental agreements, retail management contracts, vendor contracts, maintenance agreements, property management contracts, and more.  With the need to handle numerous of contracts per year and support updated lease accounting standards, manual contract management processes may prove insufficient – potentially leading to contract lifecycle delays, missed key dates, lost revenue, unsatisfactory lease accounting, and wasted time.  These organizations need to leverage integrated contract management software for enhanced retail property contract management.  Here’s how.

In contract lifecycle management, efficient collaboration between stakeholders is a must.  Contract requests, renewals, and almost everything in between can involve many moving parts – with a high potential for inefficiency if adequate measures are not introduced.  In the interest of avoiding communication delays and contract lifecycle bottlenecks, organizations should leverage robust contract collaboration tools offered by leading contract management software.  Here are four steps to foster healthy and productive collaboration and expedite the contract lifecycle.

As technology evolves and organizations shift to adapt, business process changes should increase productivity rather than hamper it.  Contract managers who primarily utilize manual methods with their team may encounter difficulties in efficiently managing contracts.  Contract mismanagement can decrease productivity, hinder communication regarding task responsibility, and increase avoidable inefficiencies.  As contract administration changes for the future, organizations can attain greater control over their contract management processes by avoiding the following pitfalls of contract mismanagement.

In the face of unforeseen circumstances, many organizations allow employees to work from home.  Professionals in a variety of industries must be supported with adequate tools to maintain contract management, procurement, and sourcing operations. CobbleStone Software’s Contract Insight^® can help your organization to continue with - and further enhance - effective source-to-contract practices.  This article will show you how.