Contract Insights

Colleges, universities, and school systems can encounter unique contract management challenges.  Educational institutions manage a large volume of contracts, vendor contracts, suppliers, and providers of goods and services.  A disorganized, risk-prone, and slow-moving education contract management system can cause:

• confusion among departments.
• wasted time.
• widened gaps between legal, procurement, and contract administrators within academic systems. 

In order to avoid these issues, we need to first address the question. What exactly is education contract management - and how can it be improved with contract management software?

Colleges, universities, and other education institutions draft, negotiate, and approve a myriad of contracts with vendors, partners, suppliers, and employees every year. Actively managing contracting processes and maintaining formal relationships can be difficult and time-consuming. This holds especially true for the many universities that don’t have a system in place for the contract management process.

The COVID-19 pandemic has left educational institutions in a state of disarray.  In such unprecedented times, education contract managers - especially when overseeing contract management teams remotely - cannot rely on antiquated education contract management procedures.  Amidst such unforeseen circumstances caused by the COVID-19 pandemic, education contract managers can learn how to leverage the following key digital contract management processes within a scalable and centralized contract lifecycle management system to maximize their contracts’ value and optimize their workflow.

Manual drafting processes, unsystematic document and contract storage, and workflows involving emails and phones lead to contract lifecycle bottlenecks, wasted time, and squandered opportunities.  Contract management software can help alleviate these issues so that education professionals can take control of their contracts and “ace” contract management best practices.