Proper management of your organization’s contracts significantly increases operational efficiency and profitability while mitigating risk. IACCM (International Association for Contract and Commercial Management) notes that contract automation can accelerate negotiation cycles by 50% and cut operating and processing costs associated with managing contracts by 10-30%. Given that contracts are the vehicle by which we all do business, improving efficiencies in this area is a leading 2017 initiative for many organizations.
Robust Contract Lifecycle Management (CLM) Applications address all aspects of a contract’s lifecycle – including contract creation, contract negotiation, contract signature and compliance and obligation management as well as reporting, alerting and escalations. With proper contract management processes and automation solutions in place, contracts can be closed more efficiently, costs and penalties can be reduced or avoided, and what has become the strategic task of managing your contracts can take place more effectively.
In this 45-minute complimentary webinar, we reviewed how the different aspects of CLM software can positively impact your organization.
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