Contract Management Blog

One of the current buzzwords in IT circles is ‘Cloud Computing’. From trade-shows to industry publications, IT decision makers and purchasers are being bombarded about how “cloud computing is going to transform your business”.

Being the best at managing data is every bit as important as being the best at managing service and cost. When it comes to contracts, savvy companies are learning that they need better tools to turn contract data into actionable items. One of those tools is cloud-based contract management software.

The Cloud provides small- and medium-sized businesses access to enterprise-grade computing power without a heavy, upfront investment in servers. This is why several businesses are considering virtualizing their applications.

The first step to streamline any business activity is to use a tool that allows team members to collaborate in faster and better ways. Using any kind of paper-based system puts the team at a disadvantage due to the lack of real-time information.

During the 2013 MIT Sloan CIO Symposium, several big topics were discussed. From the convergence of data, analytics and the cloud to the potential of social business, the conference had an underlying trend: the current CIO role is an increasingly powerful and…

“We continue to see frustration among cloud services users over the form and degree of transparency they are able to obtain from prospective and current service providers,” said Alexa Bona, Vice President and Analyst at Gartner. According to surveys from the research firm, Gartner predicts that through 2015, 80 percent of IT procurement professionals will remain dissatisfied with SaaS contract language and protections that relate to security.

As more and more businesses are adopting cloud-based solutions to increase their productivity, there is an ever-growing need to educate users about best practices in security. One group in particular requires special attention.

On October 2013, analysts at Gartner released results from a survey predicting that 28 percent of CIOs expect to source all critical applications and operations via the cloud by 2016, and 55 percent expect to do so by 2020.