Recent Posts by Tara Naughter

ContractWorks Spring Resource Round-Up

A quick visit to ContractWorks’ resources page will provide you with a variety of insightful free ebooks, guides, webinars, case studies, and more.

With so many great resources to choose from, we thought we would highlight three guides that many of our blog readers are finding useful and we thought you may as well.

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4 Tips to Ensure Successful Contract Management Implementation

How effectively your business can manage contracts is a significant to your organization's overall success. According to research from the International Association of Contract and Commercial Management (IACCM), improving contract management can improve corporate profitability by nearly 10 percent annually.

Where do so many contracts go wrong? While businesses can put their best foot forward by taking steps to draft well-defined contracts with clear deliverables and terms, many contract related losses and missed opportunities to improve value occur after a deal has been negotiated and signed. In other words, how a contract is implemented plays a direct role in its outcome.

According to the IACCM, contracts that are not managed diligently throughout their term risk leaking value. For example, the IACCM reports that 77 percent of companies lose value due to project delays and cost overruns, a risk that may be mitigated or avoided altogether through stronger contract management implementation.

Here are four tips to reduce risk and improve value from your contracts through successful contract management implementation.

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Artificial Intelligence: The Basics

It’s hard to escape the footprint of artificial intelligence. Though once thought of in futuresque, sci-fi terms, artificial intelligence (AI) in its various forms has proliferated everyday life both at home and in the enterprise. According to a report from Gartner, the number of enterprises using AI has tripled in the last four years, meaning that from Amazon product recommendations to voice-controlled light switches to automated functions that improve key pain points and boost productivity at work, AI is now everywhere.

But what does AI actually mean and what do you need to know about it now? Keep reading to learn the basics.

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5 Reasons Contract Management Software Can Alleviate Pain Points for Your IT Department

Business units and IT departments are often seen as being at odds with each other within the enterprise. While employees want fast, cutting-edge solutions that can help them do their work more efficiently, information technology workers are sometimes seen as overly conservative and out of touch with the needs of business users.

But as the gatekeepers of company technology, achieving IT buy-in is a crucial step in implementing any new solution that is aimed at improving business results – and contract management software is no exception. One way to improve the alignment between business and tech teams is by understanding and championing the ways a solution can alleviate existing IT pain points. Here are five reasons contract management software specifically can also bring about improvements to your company’s IT department.

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What's New at ContractWorks

The first quarter of 2019 was a busy one for ContractWorks. We rolled out some great product updates that our customers are already finding really useful.

Here’s a quick rundown of what’s new at ContractWorks.

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Productivity Alert: You Might Need Contract Management Software

Selecting a contract management solution can be a daunting task.  There are many different software providers available, all with different features, and it can be hard to know where to start. In addition, depending on your company’s resources and capabilities, there may be a small team tasked with overseeing a rather voluminous contract portfolio. With so much at stake - and so many irons in the fire - how do you decide which contract management solution is right for you?

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Introducing a Quick, New Way to Tag Documents in ContractWorks

 

You asked. We listened. Tagging contract metadata in ContractWorks is now even easier with our new In-Viewer Tagging feature.

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Electronic Signing in ContractWorks Just Got Better:

Now’s a great time to start digitally signing in ContractWorks. Our built-in electronic signature feature has been enhanced with powerful new features to help you quickly and easily get your documents signed. Read on to learn more.

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Are You Maximizing ROI from Your Current Electronic Contract Strategy?

An effective contract management strategy is designed to help your organization reap the greatest benefits – and reduce risks such as penalties or lost sales – along the way. But if you’ve ever questioned whether your current strategy, and the contract management software you’re using to support it, are delivering the full benefits you're hoping for, you wouldn’t be alone: according to the International Association of Contract and Commercial Management (IACCM), just one third of sales people believe their organization’s contract management process is effective at maximizing value and minimizing risks.

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Contract Management Procedures: 4 Reasons Why Excel Won't Cut It

One of the biggest challenges of contract management is finding a solution for dealing with volumes of contracts that can reach the tens or even hundreds of thousands. Though cost-effective software solutions exist that help organizations seamlessly manage each stage of the contract lifecycle, it’s also easy to understand why manual tools such as Excel spreadsheets are so popular.

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