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All organizations face risk, it's part of doing business. For most, a great part of this risk is contained in and governed by their third party contractual relationships.
The effective management of these contracts presents a real challenge, one often addressed only in part by Contract Lifecycle Management software.
And therein lies the problem: the value and return associated with any Contract Lifecycle Management solution has to make the following assumptions:
- The organization knows where their contracts are. Does your organization?
- The organization has all the key terms and information already extracted from their contracts and ready to migrate to the Contract Lifecycle Management solution? Does your organization?
- The organization will be able to ensure that on-going contracts will be diligently and consistently uploaded and the key/relevant attributes extracted, reviewed and entered. Is your organization able to ensure this?
Deploying a Contract Lifecycle Management process or solution, without addressing these challenges, will lead to ineffective reporting and alerting, while limiting its adoption.
Join Steve Tucker, senior vice president at Seal Software Group for a free 30 minute webinar to learn about:
- Contract Management Best Practice
- How to make good use of contracts management technology to support and enhance policies and processes
- Seal Software's unique, automated Contract Discovery and Analytics