Transforming Contracts Management
For most companies, the enterprise contracting process is inefficient and ineffective, resulting in a measurable loss of enterprise value for a company. This is because the current process needlessly extends sales cycles, results in revenue/margin leakage and increases legal/compliance costs and risks. It’s also a drain on legal and procurement staffing.
The inability to optimize contracting impacts businesses on a daily basis. Legal and procurement departments are overwhelmed with the volume of contracts. Sales and other departments complain about how long it takes to complete contracts with customers or vendors. Business executives complain that they don’t have visibility into their contracts, while legal and procurement are seen as roadblocks rather than enablers of business value.
The good news is that there is a solution. In the White Paper available below, we explain how companies can transform contracts management by simultaneously addressing four fundamental pillars: (i) contracting processes; (ii) content (templates/playbooks); (iii) technology and (iv) staffing. While addressing inefficiencies within any one of these four pillars can improve the current state, you will only optimize contracting and maximize business value by addressing the key problems within all of them.