Contract Management - providing visibility into contractual obligations, and
facilitating the contract negotiation process - is a key priority in “Best
in Class” organizations.
Contract Management technology and its supporting processes provide visibility into
key dates and milestones allowing businesses to avoid penalties and collect
payments on a timely basis. Predefined
templates and preapproved contract language streamline negotiations while
maintaining control. Contract
Management provides a central repository and historical record for
addressing Sarbanes-Oxley concerns. It
also provides collaborative authoring and redlining, check-in/check-out and
version control, advanced workflow approval routing and escalation, audit
tracking, and reporting on all documents, messages, and tasks.
With more business today conducted under negotiated
agreements, effective contract management is essential.
The business case is compelling.
Aberdeen reports Toyota Motor Sales saved an estimated $14M over five
years through enhanced visibility into contracts and compliance, resulting
in 571% ROI. Young businesses should implement contract management software
as an important part of building their infrastructure.
More mature businesses should take this step to reduce risks and
enable proactive management of negotiated agreements.
Let Paladin Associates help your company
with our proven Contract Management methodologies, which clearly demonstrate
rapid and favorable ROI.