Contract Management Software Helps Construction Firms Mitigate Risk.
By Timothy Donaghy
Construction Today Magazine, August 29, 2018
Contract management software helps construction firms mitigate risk. After all, contracts are the cement and rebar that help form the foundation of any company. This is particularly true in the architecture, engineering and construction industries. In this arena, contracts not only serve as the agreed-upon terms that exist with suppliers, subcontractors and customers, but also stipulate how those terms will adhere to many of the laws that exist in this heavily regulated space. This has become such a specialized discipline that the American Society of Civil Engineers even offers a course dedicated to construction contract management.
This degree of regulation poses a significant compliance burden, as well as risk associated with being in breach of any of your contracts. In recent years, the advent of specialized contract management technology has begun to help many organizations mitigate their contracting risk. Below are a few examples of how automated contract management helps you address many of your construction contract compliance and risk challenges…
Read the full article at: http://www.construction-today.com/sections/columns/3490-keeping-track