The signing of a contract doesn’t mean the process is done, it only means the negotiation phase is over. This is when the real work begins; the beginning of the overly neglected responsibility of active contract management.
Active contract management is really about obligations management — all those terms and conditions agreed to during the back-and-forth of negotiations and tracking the contract post execution. It is critical that organizations have a specific process for managing those duties that each party is legally responsible for in a contract agreement. After all, that is the basis of contract obligation, which is essential to meet compliance and financial goals, while mitigating contract risk.
As living relationship-management documents, monitoring and measuring contract obligations (defined by the terms and conditions via milestone dates, delivery requirements, service levels, discounts, security, etc) — has to be ongoing, qualitative and flexible.
In this live webinar, Agile Management of Contract Obligations, Sally Guyer, Global Chief Executive Officer at IACCM (International Association for Contract and Commercial Management), Matt Markham, Vice President of Global Sales Engineering at Determine, a Corcentric company, and Constantine Limberakis, Senior Director of Product Marketing at Corcentric, will explore the challenges and opportunities for companies in taking an active contract management approach to obligation management, and how CLM technology can make the process more flexible, effective and easy for teams at all levels.
- The growing impact of automation on obligation management in raising efficiency and performance standards.
- Implementing frictionless contract management to evaluate a supplier’s compliance during the lifecycle of the contract to make better decisions as part of contract renewal, termination and amendments.
- Addressing developing capabilities within CLM technology to promote better visibility and decision making for improving contract obligation management.