New Ebook: Managing Contracts in 2021

The year 2020 was unlike anything any of us have ever experienced, and threw businesses and individuals across the globe into a state of disarray. Companies of all shapes and sizes from every industry had to adapt on the fly, regroup, and do whatever it took to stay afloat. Long term goals and strategic plans were replaced with temporary, short term plans to address the most immediate needs.

But after many companies spent the last 12 months reacting and responding, 2021 presents a new opportunity to refocus and reset organizational priorities, and proactively plan for the months ahead.

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3 Ways to Optimize Your Legal Department Operations

Improving the way your legal department operates is an ongoing process that must be continuously fine-tuned and adjusted over time. While there aren’t many quick fixes, there are things you can start doing right away that will put your team in position to take advantage of new opportunities, drive efficiencies, and strategize for the future. 

Here are three ways to optimize legal operations to increase productivity, reduce costs, and strategically grow your department.

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6 Key Clauses Found in Commercial Contracts

Commercial contracts are needed for any business to partner with vendors, bring on new customers, or hire new employees. But what goes into a commercial contract? This blog explores some of the most common clauses found in commercial contracts, as well tips for effectively managing these agreements throughout the contracting process.

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Why Contract Managers Need Contract Management Software

Any organization with a sizable contract portfolio counts on their contract manager, or contract management team, to ensure that every agreement is carefully monitored from signing through the closeout process. Depending on the number of contracts, the value of those agreements, and the risks associated with not managing them effectively, various solutions can be implemented to help ease the burden of keeping up with them manually.

What kinds of tools do contract managers need to be successful? This blog covers why dedicated contract management software should be at the top of the list.

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The Top ContractWorks Blog Posts from 2020

As we look forward to a fresh start in 2021, we also want to review the last 12 months of contract management news, tips, and more from the ContractWorks blog.

This article revisits some of the most popular ContractWorks blog posts from 2020, covering topics like remote working, important contract terms, and the value of analyzing your agreements.

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ContractWorks Partners with Cenza to Expand Client Services

ContractWorks is pleased to announce a strategic partnership with Cenza to support the migration of legacy contract data to the ContractWorks platform.

ContractWorks is known for its easy-to-use contract management software, industry leading support team, and quick implementation process. Now, using a combination of ContractWorks’ built-in artificial intelligence and Cenza’s contract migration services, customers are able to migrate their data and enable the full functionality of the ContractWorks software even faster.

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Contract Review: 6 Things to Look For + Downloadable Checklist

Conducting a contract review is a key part of the contracting process, and serves as an opportunity to fully understand everything you and your business are agreeing to before putting pen to paper. A contract review helps you reduce organizational risks and increases the likelihood that an agreement will make a positive business impact for all parties involved. Without a comprehensive contract review, you run the risk of committing to obligations that you can’t fulfill, damaging your company’s brand and reputation, and wasting valuable time and financial resources resolving disputes that could have been prevented.

This article covers some of the most important things to look for during a contract review at various stages of the contracting process, and includes a downloadable checklist for contract review and management.

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Meet Katy Neal, Implementation Manager

At ContractWorks, 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.

We’re proud of the team we’ve assembled, and we think it’s about time you get to know the people that are innovative, agile, and committed to fulfilling the needs of our customers.

In this post, we're catching up with Implementation Manager Katy Neal. Katy plays an important role helping clients find success using the ContractWorks platform, and works to provide both initial training and ongoing customer support. Read more about Katy below.

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Starting a New In-house Counsel Role: A Step-by-step Guide

Starting a new in-house counsel role typically involves months of learning and working through speed bumps as you adjust to your new organization, teammates, and routines. Even the most experienced professionals need time to settle in and learn company policies and procedures and what is expected of the legal team.

Luckily, there are some steps you can take early in the process that will help you get up to speed as quickly as possible so you can start planning for long term success.

Below is a step-by-step guide to help you get acclimated in a new in-house counsel role.

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KPIs to Measure Your Contract Effectiveness and Efficiency

There are countless KPIs you could implement to evaluate your contract management performance, so identifying which indicators best help illustrate the health of your organization is key. It can be tempting to measure every aspect of your process, and there’s no reason you can’t get to that point over time, but it often makes the most sense to start by measuring and working to improve the areas that really move the needle. 

Here are a few KPIs to consider implementing to measure the effectiveness and efficiency of your contract management process.

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