Contract Management of your organisation’s contracts will give you a better bottom line, less risks och and better flow in any deal-making.
Contracts are the foundation of all businesses and provide the basis for control of all customers, suppliers and inter-company relationships. Accurate knowledge and understanding of obligations, opportunities and risks are essential.
Compliance of treaties, laws and regulations becomes more and more complex for companies, not only with respect to purely legal terms, but also conditions, financial arrangements, logistical coordination, increased quality standards, performance guaranties, etc. To ensure contract compliance, transparency in the business and with relevant stakeholders is essential.
Any uneven level of information to all parties involved in contract management, lack of updates to contracts, the absence of control over their contents as well as the non compliance with deadlines are the main risks of the contract management.