Contract managers are under increased pressure to deliver value with reduced contract risks, decreased contract costs, and improved contract performance. When you regularly measure progress and the success of contracts against contract management key performance indicators (KPIs), you can proactively readjust your contract strategy to ensure goal alignment drives critical and positive organizational impact. Read on to learn how contract management software can help maximize three important contract management KPIs for success.
The 3 Contract Management KPIs for Success
By Maria Votlucka on 07/22/24
Contract Reports for Robust CLM Data Analytics Oversight
By Joshua Hansen on 07/2/24
Collecting, analyzing, and tracking contract management data with manual and disparate processes throughout the contract lifecycle can prove challenging. You can waste time and energy without readily accessible contract management reports for the following.
- Contract Financials
- Contract Terms
- Workflows
- Budgets
- Key Performance Indicators (KPIs)
- Vendors
- Contract Compliance Data
- & Other Essential Contract Data
Fortunately, leading contract management software can provide you with contract reports for optimizing contract performance management oversight.
How Can Your Contract Process Be Improved?
By Sean Heck on 05/27/24
A healthy contract management process should constantly be adapting to technological advancements. As contract volume and contract complexity begin to grow, organizations must embrace digital transformation to be furnished with the right tools to streamline the contract management process. Such innovative CLM tools can be found within a trusted contract management software system. Read on to learn more.
The 8 Stages of the Contract Lifecycle
By Jamie Reedy on 05/20/24
Contracts are legally binding - and thus need to be executed properly. Legal teams should equip themselves with a thorough understanding of the contract lifecycle management process. The contract lifecycle is the process under which a contract is authored, reviewed, sent for signature, executed, and - potentially - renewed.
The "lifecycle" is an archetype used to compartmentalize and understand a contract's complex evolution. The lifecycle begins with contract requests and concludes when these requests are fulfilled - with the possibility of managing contract renewal. Let's further explore the eight stages of the contract lifecycle below and how digital contract management software can help streamline your contracting processes.