Process Change: Rethinking Your Legal Department's Structure

In today's business landscape, one of the only constants is change. Organizations constantly need to adapt and evolve in order to respond to new market trends and customer demands.

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ContractWorks' New Vice President of Sales: Meet Casey Roberts

SecureDocs, Inc. announced that Mr. Casey Roberts has been named Vice President of Sales. Roberts’ new role places him responsible for overseeing the growth of the SecureDocs, Inc. account management team, ensuring that prospective customers have a tremendous experience from their first point of contact, through the evaluation process, and as a customer.

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5 Technologies to Implement in Your Legal Department in 2018

In recent years the rise of cloud-based technologies in corporate culture has become undeniable, and by now, it should be clear that legal departments need to take full advantage of technology in order to maximize their productivity and efficiency.

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3 Tips for Keeping Track of Contract Versions & Amendments

During contract negotiations and drafting, there is a lot of unavoidable back and forth as each side jostles for the inclusion or exclusion of certain terms and conditions. Once the contract begins to take written form, the round and round suggestions and changes can get pretty difficult to keep track of and remember. As a result, it is critical for there to be a coherent data management strategy in place. This is particularly important for contracts and any related documents, as revisions, amendments, and addenda are fairly common practices for these kinds of documents. Here are the three main things to keep in mind to help keep track of contract versions and amendments:

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4 Tips for Better Outcomes in Contract Management

Company leaders often find the contracting aspect of running a business risky and frustrating. Nonetheless, entering into these legally binding agreements is something that businesses have been doing and will be doing for centuries. Despite this reality, it is often surprising how many companies fail to devote sufficient resources to this part of their operations. In many cases, once legal counsel has negotiated and drafted the agreement, the actual administration of the contracts is often neglected in favor of other pressing matters. Of course, this can become a costly oversight given the legal and financial ramifications associated with contract breaches. Here are 4 tips for ensuring better contract management outcomes:

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4 Common Pitfalls that can Derail Contract Management

As contract management teams know all too well, overseeing a large contract portfolio can be downright complicated. As the portfolio grows, it becomes increasingly important for the team to stay organized and committed to implementing its contract management strategy. Unfortunately, even the best laid plans can go awry, and there are certain pitfalls that are more prevalent than others. Here are four common pitfalls that can derail contract management and some tips to avoid them:

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How to Get Stakeholders To Support Your Procurement Efforts

Every company obviously has various stakeholders with varying levels of influence and power from the investors to the board executives to middle management to lower level employees. Given their varying interests and responsibilities, these stakeholders often have different views with respect to what is significant and what is perhaps less important. Procurement professionals have a very discrete skill set and business goals in mind to fulfill their objectives. In many cases, however, those goals and objectives do not always perfectly align with those of the stakeholders within the larger organization. The procurement folks are tasked with establishing workable supply chains while seeking maximal value as they simultaneously try to ensure cost savings. This may run a bit counter to what professionals in other departments are accustomed to worrying about, and when different departments have an incongruent focus this can lead to friction and stall operations. Here is how to get stakeholders to support procurement efforts:

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How to Solve Communication Issues in Manufacturing Procurement

Across all sectors, strong relationships are integral to successful contracting arrangements. Of course, communication is one of the most critical aspects of a good working relationship. In many contracts, there are a ton of intricate details and multiple steps involved in each phase of the contracting process. Manufacturing tends to be particularly detailed and each link of the supply chain is crucial to the next. Thus, any disruption in manufacturing procurement can have significant consequences on the entire production process. This is why solid communication among parties is absolutely key. Here are some ways to avoid communication issues:

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What You Can Do With The Money You Save By Using Contract Management Software

Creating the company budget and then actually sticking to that budget throughout the calendar year can be annoyingly time-consuming and downright exhausting. It obviously behooves a company to figure out ways to cut costs and utilize resources as effectively as possible, and establishing a surplus is no doubt a wise decision. Fortunately, the cost of investing in the technology needed to run the business has gone down markedly due to unprecedented advancements and fierce competition in the space. Being able to shave off the cost of some of these investments from the company budget can prove life-changing for startups and smaller firms. An example of a helpful business solution that is surprisingly affordable and also facilitates efficiency is contract management software (CMS). Here is what you can do with the money you save by using CMS:

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How Contract Management Radically Improves Employee Productivity

For startups and smaller businesses with relatively few employees, each person’s role and responsibilities within the company may be rather substantial. This has the potential to become problematic when someone has to be involved in multiple areas of the company’s operations, especially when those discrete segments of the business are highly detail-focused. A prime example of a company operation that requires a keen attention to detail is contract management. Virtually all contracts contain a slew of important dates and deadlines, and they obviously impact the company’s budget in a myriad of ways. Thus, for those folks helping to oversee the contract portfolio, whether exclusively or in conjunction with various other responsibilities, there will be a lot of important details to attend to and remember. If the team is not organized appropriately or has not instituted an effective contract management system, the consequences could be disastrous. Of course, in addition to hindering overall productivity, any wasted time and resources will inevitably hurt the bottom line. Here is how contract management radically improves employee productivity:

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