Inefficient contracting, from drafting, negotiation to signature, not only slows down deals and expose the company to risk, but can also increase costs. Here are some quick tips for improving contract management efficiency at each phase of the contract management lifecycle by taking a collaborative approach.
For legal departments with limited resources and budget constraints, managing a large number of contracts is cumbersome. But even at lower amounts proper management can be tricky. Let’s explore 4 ways automation helps you drive efficiency and compliance across the business while elevating your department to a value-delivering function.
As the March 29th deadline to negotiate the terms of UK’s exit from the EU looms, it appears as though talks will go right up to the wire. Arguments over the exit terms continue and it looks like nobody knows for sure what is going to happen next. The chance of a no-deal Brexit is increasingly likely. While many businesses […]
Inefficient contract management can take its toll on overburdened legal departments. But it’s not only a matter of wasted time. Poor contract management can also cost your business dearly. According to the International Association for Contract and Commercial Management (IACCM), inefficient contract management can cost businesses as much as 9% of annual revenue. In fact, inefficient processes can result in financial losses […]
Contracts are the lifeline of your business: the vast majority of business transactions are indeed determined by a contract. Any mistakes or inefficiencies in this process can increase the company’s liability and have a significant impact on the business. Rightly so, contract automation tools are gaining in popularity. However, according to an Apttus survey less than half of respondents have invested in an automated contract management tool. […]