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Why Reducing Paper Use through Contract Management Software is Good
One of the many benefits of implementing contract management software is a reduction in the use of paper. This shift away from a reliance on paper has many competitive benefits, so it’s not surprising...
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Contract Management Software Leads to Procurement Cost Savings
Enterprises are increasingly recognizing the immense potential of technology to lower the costs of procurement processes, particularly contract management. A survey by SAP and the Procurement Leaders...
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Contract Management Ethics
The National Contract Management Association’s code of ethics calls for professionals in the contract management industry to “continuously improve” their “professional knowledge and job performance in...
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The Full Scope of Contract Management
“Contract management” is often thought of as a function that primarily occurs after contracts are closed. But the enterprises which are the most successful at maximizing revenues and minimizing costs...
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The Human Element of Contract Management Software Implementation
Many enterprises implement new technology with unrealistic expectations, erroneously thinking it will immediately and automatically lead to increased profit, says Henry Hornstein, who teaches HR...
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When Contract Management Goes Wrong
The costs and benefits of contract management are often not properly quantified, and that lack of clarity leads many enterprises to neglect this vital aspect of business success. But sometimes the...
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Contract Management and Operational Excellence
Operational excellence can’t be achieved without reliable, efficient, continuously improving business systems. “Operationally excellent enterprises possess the processes and structures—or the...
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Tragedy Reveals Importance of Contract Knowledge and Control
On Nov. 24, 2012, a fire swept through the Tazreen Fashions clothing factory in Bangladesh, killing 112 people, including workers stitching together Faded Glory shorts for Wal-Mart. Wal-Mart—along with...
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The Importance of Integrity in Contract Management
Integrity in business is a more complex topic than it might at first appear. Integrity could be summed as a list of “Don’ts”—don’t lie, don’t mislead, don’t conceal, don’t steal, don’t break...
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Empower Sales Staff with Contract Management Software
In many enterprises, contract management automation is still seen primarily as cost containment. That thinking underestimates the potential of enterprise contract management software to also increase...
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The Vital Role of Contract Management in Government Contracting
Federal, state, and local governments are rich sources of revenue for many suppliers and contractors, but working with government agencies can be complex due to their often-stringent reporting...
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Management Skills and Successful Contract Management – Part 1
Automation should be considered an absolute necessity in contract management. Without it, an enterprise will be hard-pressed to efficiently manage its contracts to maximize cost savings and revenue...
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Management Skills and Successful Contract Management – Part 2
Maximum-efficiency contract management requires automation, but automation alone isn’t sufficient. Even with the best enterprise contract management software, the people tasked with managing contracts...
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Using Contract Management Software to Overcome Cost from Human Error
Even the most diligent people make mistakes, forget things, and overlook important details. This potential for human error is well-known in business planning, and to counter it, automation of routine...
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Achieving Operational Efficiency through Cloud Technologies
Created by the E-Government Act of 2002, the Federal Chief Information Officer of the United States (US CIO) oversees federal technology spending, federal IT policy, and strategic planning of all...
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The Power of Cloud-Based Contract Management
Cloud computing has come a long way from buzzword to a reality affecting businesses around the world. Ranging from hosted email solutions to hosted IT servers to hosted contract management software,...
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Taking Action Steps in Contract Management
“If you know anything about magic, you know that the best tricks are the ones that are the most simple to perform. Levitation relies on pulleys, floating dollars need thread, and the disappearing coin...
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Legal Clinics Could Benefit from Cloud-Based Contract Management
“Larger [legal] clinics could be better positioned to leverage technology and/or develop partnerships that actually expand client access to clinic law services,” states a report from Legal Aid Ontario,...
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Implementation and Control of Government Contracts
Each fiscal year your company goes through the same exercise of reviewing its client portfolio to determine what can be done to improve the profitability of existing accounts and what can your team do...
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Beyond Word and Excel: Taking Contract Management to the Next Level
Contract management software empowers businesses of any size to gain better insights into its contract lifecycle processes. The use of a refined tool simplifies contract administration, data entry,...
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