Managing Contracts for Maximum Efficiency and Minimum Risk
By Timothy Donaghy
Transport Topics, June 4, 2018
Trucking fleets work every day to draft, negotiate and execute contracts with suppliers, employees, subcontractors and customers that maximize revenue and produce efficiencies for all involved. But in a heavily regulated industry such as trucking, compliance issues related to federal, state and local laws must be directly reflected in these contracts, and that can get burdensome.
The emergence over the past decade of specialized contract lifecycle management software has helped companies manage this challenge. This technology can help trucking companies maximize their efficiency and mitigate their risk in the following ways:
• Streamline contract creation and approval;
• Limit legal team involvement in contracting;
• Ensure contract milestones are not missed;
• Identify how new and changing regulations impact contracts;
• Quantify the impact of corporate policy changes;
• Enforce contractual compliance.
Read the full article at: http://www.ttnews.com/articles/opinion-managing-contracts-maximum-efficiency-and-minimum-risk