Encompassing a broad range of agreements with other business entities, your organization’s commercial contracts are an important tool for driving company performance and reducing any risks that are inherent in your dealings.Read More
As conversations about the capabilities of artificial intelligence and related technologies pick up speed, you might increasingly encounter unfamiliar terms and concepts – and the fact that notions such as “AI” and “machine learning” and other related things are frequently (and incorrectly) used interchangeably can only increase confusion around these emerging technologies.Read More
From employment agreements to customer and vendor contracts, businesses typically have a variety of types of agreements within their portfolios, which can have direct and indirect effects on the bottom line. And while service contracts – those with suppliers who provide business-related services such as internet and maintenance – may not have a direct line to company revenues, your ability to manage these contracts appropriately can affect overall performance.Read More
Communication. That’s the driving force that motivates the entire ContractWorks team, from sales and marketing to product development to customer service. By encouraging feedback and working hard to develop strong relationships with our clients, ContractWorks is always innovating and updating with one eye on “what can we do?” and another on “what do our customers need?”Read More
By combining automation with data intelligence, contract management software can help organizations tap into the previously untapped resource that is their contract management repository. At the center of this revolution lies automation.Read More
From budgets to best practices, contract management software can help small legal teams do more with less, whether you're a team of one or full-roster. In fact, because contract management software takes away much of the drudgery involved with signing and executing contracts, upgrading your current system can have a positive “ripple effect” across your department and throughout your organization.
So given all the advantages of dedicated contract management software, why isn’t every organization—large and small—making good use of it?Read More
While it may be obvious that using a contract management system will enable your organization to generate reports based on a variety of metrics, the true value of this added insight may not be so obvious. With the types of comprehensive reporting available with contract management software, you and your team can gain insight into budgetary elements like spending analysis, inventory status, and compliance trends.Read More
Lifecycle. Process. Whatever you call it, effective contract management doesn’t only involve developing agreements and getting them signed – it’s a series of actions that guide you from the earliest stages of developing holistic processes for handling each and every company agreement, through to the steps to seeing contracts through to their conclusion.
Having a clear understanding of what happens at each stage is an important way to ensure your contract management processes meet all of the requirements and objectives to deliver optimal results.
Here are the seven essential stages of contract management.Read More
Both at home and in the workplace, artificial intelligence (AI) has been hyped as a transformative force, improving the ease and efficiency of performing everyday tasks. “The future is now,” the tech blogs all tell us.Read More