Meet Parker Eliot, Implementation Manager at ContractWorks

At ContractWorks, our team represents the spirit of our company: innovative, agile, and committed to fulfilling the needs of our customers. Our employees come from a variety of experiences and backgrounds, each with a unique set of skills and talents that align with our overall mission of providing simple, smart document management solutions.

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How to Implement Exceptional Commercial Contract Management

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.

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Machine Learning: What It Is and What It Isn't

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.

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Contract Management Software: Things to Watch Out For & Avoid

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.

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ContractWorks Tops G2 Crowd List for Top Contract Management Software

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?”

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Contract Management Power Duo: Automation and Data

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.

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Contract Management Software: The Right Fit for Small Legal Departments

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?

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Using Metrics to Find the Hidden Value in Your Contracts

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.

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7 Essential Stages of Contract Management

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.

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Your Contracts Are an Untapped Resource

Contract management software can help businesses manage expenses and increase net revenue.

How?

By gaining greater control of their contracts.

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