Service: Contract Management
Contract Management - providing visibility into contractual obligations, and facilitating the contract negotiation process - is a key priority in “Best in Class” organizations.
Contract Management technology and its supporting processes provide visibility into key dates and milestones allowing businesses to avoid penalties and collect payments on a timely basis. Predefined templates and preapproved contract language streamline negotiations while maintaining control. Contract Management provides a central repository and historical record for addressing Sarbanes-Oxley concerns. It also provides collaborative authoring and redlining, check-in/check-out and version control, advanced workflow approval routing and escalation, audit tracking, and reporting on all documents, messages, and tasks.
With more business today conducted under negotiated agreements, effective contract management is essential. The business case is compelling. Aberdeen reports Toyota Motor Sales saved an estimated $14M over five years through enhanced visibility into contracts and compliance, resulting in 571% ROI. Young businesses should implement contract management software as an important part of building their infrastructure. More mature businesses should take this step to reduce risks and enable proactive management of negotiated agreements.
Let Paladin Associates help your company with our proven Contract Management methodologies, which clearly demonstrate rapid and favorable ROI.