Contract Management Blog

Using CMS to Manage Freelancers Many enterprises find it more cost-efficient to fulfill their creative needs by hiring freelance programmers, graphic designers, event planners, writers, editors, photographers, etc. The advantages of using freelancers are apparent. Enterprises only pay for the services they need, which often aren’t enough to justify a full-time position, particularly for small…

Ignoring Contract Management Reduces Profitability Contracts are the lifeblood of business. They facilitate and govern virtually every B2B transaction conducted. Yet most enterprises are too lax in their management of contracts throughout the contract life cycle — from creation to monitoring of provision compliance. Inexplicably, many enterprises don’t focus on minimizing costs and maximizing revenue…

Management Skills and Successful Contract Management: Part 2 Maximum-efficiency contract management requires automation, but automation alone isn’t sufficient. Even with the best contract management software, the people tasked with managing contracts need to possess certain aptitudes to enable the enterprise to realize the full benefits of automation. The benefits of automation are many, including smarter…

Management Skills and Successful Contract Management: Part 1 Automation should be considered an absolute necessity in contract management. Without it, an enterprise will be hard-pressed to efficiently manage its contracts to maximize cost savings and revenue opportunities. But automation doesn’t work in a vacuum, and it’s not an instant panacea. To realize the many benefits…

Managing Government Contracts with Automation   Contracts with government agencies require a high level of accounting accuracy and fiscal management. And with the level of today’s technology, government agencies prefer to award contracts to enterprises that have automated contract management to ensure this accuracy and facilitate more-efficient management. When it comes to meeting the accounting,…

The Vital Role of Contract Management in Government Contracting Federal, state, and local governments are rich sources of revenue for many suppliers and contractors, but working with government agencies can be complex due to their often-stringent reporting requirements, tight budget controls, and bureaucratic nature. Enterprise contract management software can help organizations manage this complexity with…

Empower Sales Staff with Contract Management Software In many enterprises, contract management automation is still seen primarily as cost containment. That thinking underestimates the potential of contract management software to also increase revenue by providing critical assistance to sales. Poor contract management leads to revenue leakage of 5% to 9%, according to a recent article,…

Integrity in business is a more complex topic than it might at first appear. Integrity could be summed as a list of “Don’ts” such as: don’t lie, don’t mislead, don’t conceal, don’t steal, don’t break professional ethics codes, and so on. Seen this way, integrity in business is simply about doing the right thing — as individuals and organizations.