Contract Insights

As a regular old consumer and - perhaps - a part of a successful business, you know that technology evolves so speedily that it is sometimes overwhelming. Adopting new technologies follows distinct stages that can influence an organization’s competitiveness and growth. These technology adoption lifecycle stages, often categorized into innovators, early adopters, early majority, late majority, and laggards, provide a bell curve framework for understanding how technologies diffuse across markets. Here, we explore each stage and outline a robust adoption strategy to navigate them effectively.

Organizations across every industry are responsible for tracking, managing, and storing their contracts and agreements with vendors, clients, and partners.  For many companies with contracts and committals with vendors, tracking the sourcing of those agreements is essential.  Whether agreements with vendors are reached with simple or complicated procurement processes; a software suite with full procurement and contract lifecycle management can be enormously beneficial to any organization.

You’re in need of contract lifecycle management software. You’ve found a product that is a good fit for your organization. However, some of these products are offered as a SaaS deployment, some products are offered as a local deployment, and some products can be offered as both a SaaS or local deployment option; and you are unsure which option is the most beneficial for your business. Do not worry. Your questions, concerns and uncertainties about which deployment option is right for your business will be answered in the reading that follows. Before you make a decision, the benefits of both the SaaS and locally deployed option should be outlined.

Electronic signatures are a must to streamline your contract management process.  They allow organizations to create efficiencies that expedite preexisting processes and reduce financial costs.  However, there are still individuals and organizations that question whether or not contract electronic signatures are legal and whether eSignatures will hold up in court.  The question is valid; potential litigation is a serious threat to any organization.  Judicial decisions and legal precedent in the United States have left very little ambiguity on whether or not contract electronic signatures are equivalent to handwritten signatures.  Organizations that use eSignatures should take comfort knowing that the courts have been on their side since 1869.