2020 is quickly approaching and, with it, new advancements in contract management options. To that end, we’ve detailed five essential tools contract managers must empower themselves with to navigate the ever-changing landscape of contract management best practices going forward.
Creating value in an ever-expanding industry-agnostic competitive landscape requires that organizations improve performance, reduce spending, and make data-driven decisions. With the preponderance of spending locked into contracts, leading organizations must find a way to harness their complexity to create value and the following four strategies can help.
The IT Industry is facing unprecedented challenges with digital transformation. Whether you’re an IT service provider, CIO, CTO, or work in a corporate IT department, the future state of your organization is weighing heavily on your team. To future-proof and take control in the face of stringent compliance requirements, security threats, and privacy and data breaches, IT professionals must be able to respond effectively to organizational change, technological advances, cybersecurity demands, and behavioral, legal, and regulatory compliance requirements.
Virtually every organization in every industry has contracts to manage. More than ever, there are increasing opportunities to drive value with the contract management process by improving communication, negotiation, conflict resolution, leadership, and technical capabilities with the right contract management tools. Each contract manager’s challenge is to get buy-in on contract process improvement initiatives.