Contract Insights

Managing various construction contracts can be a challenging process to coordinate and streamline – especially when dealing with multiple stakeholders and ranging construction project timelines.  Relying on disparate contract management methods - such as postal mail, wet-signatures, filing cabinets, emails, shared drives, and paper-based negotiations – can waste precious time and energy.  With the help of a streamlined construction contract management software, you can centralize and streamline your processes and capture full contract lifecycle management oversight from contract requests to renewals, especially with the help of integrated eSourcing software that streamlines construction project bidding. Read on to learn how construction contract managers can maximize contract management with the help of key contract lifecycle management software features.

Procurement managers and procurement teams may have their work cut out for them without the right procurement tools.  Ineffectual procurement and acquisition strategies can lead to unnecessary risk, dark purchasing, harmful data inaccuracies, detrimental supplier issues, and an overall longer purchasing cycle.  Procurement teams need to avoid wasted time, squandered opportunities, and wasted resources that stem from ununified and inefficient procurement.  Instead, they should embrace a future-minded process with six tips for improved eProcurement and acquisition.  Read about these helpful tips below.

Managing contracts can be challenging for legal, procurement, and contract management professionals, especially when primarily relying on outdated processes.  Managing the contract lifecycle from requests to renewals can prove challenging with spreadsheets, emails, filing cabinets, and other disparate tools and systems.  Without accountability, visibility, a clearly defined process, and actionable insights, organizations can find themselves running into compliance issues, not realizing contract value, and encountering other setbacks. 

Legal contracts are the foundation for companies of every size in every industry, with your business being no exception. Contracts are the written handshake that solidifies your relationship and outlines the promises that both parties have made to each other. Once that contract is in place it’s important to your business and its bottom line that you continue to monitor your contracts to ensure the parties involved are living up to their best practices and standards.