A CFO’s Guide to Successful Contract Lifecycle Management.
As a CFO or other executive responsible for the financial function within your organization, you play a role in contract management – a role that has evolved along with the complexity of the contract lifecycle. Historically, CFOs have been responsible for the staff, infrastructure, policies, and processes involved in paying an organization’s bills, as well as collecting monies owed. In many instances the purchasing and procurement function may also report to this role. And depending on your industry, many of the terms and conditions associated with the flow of money between those from whom products and services are bought and sold are defined by contracts.
Inherent in those contracts can be significant financial and legal, as well as public relations and brand risk if they are not managed properly, or if key terms and conditions are not met. While mitigating risk is certainly a crucial aspect of contract lifecycle management (CLM), CFOs have the opportunity and responsibility to contribute to the commercial aspects of CLM.
Complete the form at right to download your copy of A CFO’s Guide to Successful Contract Lifecycle Management and learn about 10 contract lifecycle management best practices that focus specifically on the core components of: