Mergers and acquisitions are some of the most complicated business events an organization can face. The transaction is complex. There are seemingly endless moving parts to consider. Executives need to integrate or restructure entire business systems, set strategic goals, and assign the right people to direct projects and programs throughout the process. Not to mention that a merger or acquisition often involves transitioning hundreds of employees, and thousands of contracts, which, if neglected, can introduce dangerous risks for the business.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