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    Tuesday, May 24, 2005
    Six tips to succesfull Contract management
    Six Tips for Successful Contract Management...
    • Maintain contracts in a centralized location - The entire enterprise can
    utilize the centralized and searchable system of record to answer any
    contract related question
    • Implement contract policies and best practices - Contract management
    software allows companies to easily establish and maintain contract
    policies and force usage of company approved contracts, templates,
    clauses, and terms .
    • Validate enterprise transactions - Just because your financial system
    validates that a payment or receipt has data in all required fields, doesn't
    mean that data represents the contractual obligations specific to that
    transaction. Contract management software is built specifically to validate
    transactions against contracts.
    • Automate research and reconciliation of contract disputes - Workflow
    based contract management solutions significantly reduce the time, effort
    and expense to research and resolve contract related disputes, including
    payments, deductions and chargebacks.
    • Contract Analysis - In addition to product, customer and segment
    profitability analysis, perform contract profitability analysis. Often times,
    customers, products or even entire segments are unprofitable because of
    contractual inconsistencies or flaws.
    • Collaborate on-line with trading partners - Collaboration on contracts over
    the Internet expedites contract negotiation cycle times and allows for a
    complete history capture of the entire negotiation and all component parts
    of the contract.

    Igor Gramc @ 4:40 AM
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