Contract Management Blog

Contract management’s relationship to supply chain management is often thought about in purely operational terms – meeting milestones, collecting all allowable revenue, speeding contract approval, etc. But contract management has a much broader application within the supply chain; it is a key source of knowledge for an enterprise about what is really occurring with the contracts it has with suppliers and vendors.

Contract Management and Operational Excellence Operational excellence can’t be achieved without reliable, efficient, continuously improving business systems. “Operationally excellent enterprises possess the processes and structures — or the ‘intangible assets’ — that give them the visibility, control, tools, and management practices necessary to drive greater operational effectiveness and efficiency,” sums up Faisal Hoque, the founder…

When Contract Management Goes Wrong The costs and benefits of contract management are often not properly quantified, and that lack of clarity leads many enterprises to neglect this vital aspect of business success. But sometimes the evidence is so obvious that it can’t be ignored — which is what happened in Seattle earlier this year….

Outcome-Based Contracting Requires Contract Management Outcome-based contracts are becoming increasingly popular in B2B contracting, and their use is likely to continue growing — making the adoption of contract management software even more imperative than it already has been. An outcome-based service contract doesn’t require a customer to pay until a specific outcome, as defined in…

Toward Contracting Excellence   It’s easy to understand that contract management is important to business success. It’s not so easy to actually implement contract management practices that contribute to this success. At the operational level, enterprises often can’t envision a nuts-and-bolts strategy toward contracting excellence. “There is plenty of evidence that improved contracting delivers better…

The Human Element of Contract Management Software Implementation Many enterprises implement new technology with unrealistic expectations, erroneously thinking it will immediately and automatically lead to increased profit, says Henry Hornstein, who teaches HR development and organizational behavior at Algoma University in Canada. In a recent article in the Ivey Business Journal, Hornstein acknowledges that new…