Ben Kerschberg talks about the lack of contract management and the consequences thereof in his article Legal Contract Management And The Modern Enterprise originally published in Forbes.
He is pointing out that a lot of companies are failing routines on to actively know their contracts and following up on deadlines and milestones, all to leave money on the table.
His conclusion is that C-legal executives and directors must sponsor the implementation of Contract Management and be able to articulate its importance in terms of strategy, bottom line, and legal/regulatory compliance.
Do you buy into this picture? How is it at your company (or your friends’ companies)?