Loading...
 
 

Building a business case for the right Contract Management solution

Published: 23 Oct 2014 Average Rating: unrated Print
 

Author: Merrill DataSite

When companies do business with hundreds, thousands, or even tens of thousands of customers and vendors, it is often impossible to standardize contract terms. And yet, a single miss of a detail can cost a company millions of dollars in lost revenue, unnecessary expenses, or both. Worse, such losses often happen under the radar. They frequently go undetected and are usually inadvertent.

These unnecessary expenses and lost opportunities arise from internally grown practices known as 'reactive management.' The best reactively managed departments respond quickly and efficiently to the needs of the
organization as they arise and are requested, whether it is the sales organization hunting down renewal opportunities or the purchasing department working to bundle contracts.

 
 
 

Related Discussions

Please sign in or register to post on this forum

Inland Revenue
2019-08-24 21:03:55

How to present multiple contracts review

Hi. I need to provide a commercial strategy for a data center exit. It involves hundreds of contacts and about 40 vendors. Does anyone have any experience in this to l...
 
 
Replies: 1

Nokia Networks
2019-08-21 18:39:27

reasonable day rates for freelance Contract Mgr in Germany

Hi all, I am in discussion with a small (20 Persons) and highly specialized, high tech start-up (Management-buy-out) a Telco-offspin active in the aerospace industry....
 
 
 
 
Replies: 3

Tieto Finland Oy
2019-08-20 07:06:33

CLM experiences

My company is looking into a new CLM solution, and I'd love to hear from other companies what experiences they faced in the RFP/RFI phase or selecting a CLM vendo...
 
 
 
 
 
Replies: 4

Seplat Petroleum Development Company Plc
2019-08-10 20:51:14

Digital Contracts

Please does any one have experience of having contracts prepared electronically and executed electronically? The parties do not receive any hard copies after execution...
 
 
 
Replies: 2

sussex university
2019-08-02 11:41:07

Establishing Contract Management within a Digital Team: consolidation, asset management, systems

Does anyone have experience of establishing a contract management framework in a digital team? I am mulling over which risks/areas to prioritise first (Asset Managemen...
 
 
 
Replies: 2