Contract Management Library

24 May 2012 | Viewed 509 times

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Contract Management -

Author: Tim Cummins

What is happening with contract management in your organization? In many businesses, contract management has been viewed as a tactical activity – a problem to solve, historically undervalued by management. But recent studies are indicating that elevating the importance of contract management and implementing effective strategies can improve revenue and serve as a strategic advantage in the marketplace.

Now, from financial services to telecoms, engineering to oil and gas, contract management is steadily featuring on Board agendas. Driven by unexpected losses, impending regulation and poorly managed risks, executives are awakening to the importance of contracts as instruments for business control. But it isn't just the fear of losses that is behind this surge in attention. There is a wider understanding that good contract management is a source of competitive advantage and a fundamental contributor to 'lean' quality systems.

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