Contract Management Blog

The career of the pharmaceutical sales rep is fast-paced. It rewards assertiveness, persistence, and knowledge.

In a previous post, we discussed the importance of implementing risk management in your contracts. In this post, we will discuss a business and liability risk that companies in the finance industry are facing now more than ever. These two topics are related with the ever-growing threat of malicious hackers. As many trend watchers claim, this is the era of big data, and with big data, comes big cybersecurity threats.

In a previous article, we explored how to improve SOW change management and how this process benefits the overall contract management lifecycle. Within that discussion, we touched on how important it is to develop a transparent process for managing changes and claims.

In all industries, building valuable relationships is an essential skill. Particularly in the supply chain process, that is getting goods or services from the point of origin to the end user, relationships need to be credible and reliable.

68% of M&A sales processes failed in 2012. While 2013 saw the value of mergers and acquisitions in the U.S. rise to $1.1 trillion ($130 billion Verizon Wireless takeover and $24 billion Dell buyout), there were still many massive deals that didn’t materialize.

A main challenge in contract management is client management. One of the top reasons why client defections occur is because of “indifference by supplier”. This can range from inferior client service to passive communication. The bottom line is, there are many different issues that will signal indifference to a client. You should not only know them but also know how to prevent or overcome them.

Here are the key findings from those surveys:…

To maintain a steady cashflow, companies often end up entering into more contracts than they can “chew”. When resources are spread too thin, those same companies  need to hire a third party to successfully perform the tasks stipulated under the original contract. This process is known as subcontracting.