Contract Insights

The IT Industry is facing unprecedented challenges with digital transformation.  Whether you’re an IT service provider, CIO, CTO, or work in a corporate IT department, the future state of your organization is weighing heavily on your team.  To future-proof and take control in the face of stringent compliance requirements, security threats, and privacy and data breaches, IT professionals must be able to respond effectively to organizational change, technological advances, cybersecurity demands, and behavioral, legal, and regulatory compliance requirements.

Virtually every organization in every industry has contracts to manage.  More than ever, there are increasing opportunities to drive value with the contract management process by improving communication, negotiation, conflict resolution, leadership, and technical capabilities with the right contract management tools.  Each contract manager’s challenge is to get buy-in on contract process improvement initiatives.

How many steps should be in a contract workflow? 

The correct answer is: It’s dependent on your organization’s needs. 

There is no set number of tasks for a “perfect workflow”.  You must determine what steps are necessary and in what order they should be executed, establishing the best workflow for your organization to achieve CLM (contract lifecycle management) success.

New Year, New Strategy

As we enter a new year, we expect changes in software that will affect how we do business.  It’s important to understand how to effectively adjust business processes to succeed, but in this new contract era, predictions indicate we will focus on how we can apply digital transformation to develop better outcomes.  With the amount of technology that’s rapidly transforming the contract management industry, contract and procurement professionals should understand how to respond to achieve better results.