Build Vs. Buy: Contract Management Software

Many companies have both the drive and wherewithal to solve their own problems, and this frequently involves the development of company-specific software to handle various business operations. There is a raging debate - okay, that might be an exaggeration - but there is definitely disagreement as to whether it makes more sense to build needed software solutions in-house or buy them from an outside source. Here are some of the pros and cons of both approaches when it comes to contract management software:

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Why Is Some Contract Management Software So Expensive?

Companies with an active contract portfolio often need contract management software to help them stay on top of their executed contracts, and they will benefit in many ways from using a service that offers practical features. However, many companies are hesitant to transition away from traditional contract management processes, primarily due to concerns about the efficiency and price of contract management software.

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When Contracting Requires Subcontracting: Plan for Success

Contract managers know that keeping track of different contracts and their many terms and conditions can be rather complicated. It takes serious organization and diligent monitoring to ensure that contractual obligations are met and responsibilities fulfilled. This can become even more difficult when a company’s contractual duties require a subcontracting plan, which will generate additional contracts with even more clauses to oversee. Additionally, there may be multiple individuals involved in a company’s general contract management process and different personnel needed to supervise any subcontracts.

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