Remember the old saying, “If it ain’t broke, don’t fix it?” If you can honestly say that about your contract lifecycle management process, then you’re wasting your time reading this. But we’re hoping that you’ve stopped by for a reason – perhaps your contract management system isn’t all it should be, or even worse, you don’t have a system at all.
Unfortunately, in many organizations, agreements get bogged down in antiquated contracting processes that frustrate corporate counsel and their clients alike. When counsel rely on tools such as Microsoft Outlook, Word, Excel, and SharePoint as their contract management suite, it leads to a lack of transparency. Drafting, review and approval workflows come to a standstill as emails fly back and forth between stakeholders desperately trying to determine the status and versioning of their contracts. Disappointed business units point the finger at corporate counsel for delays that can extend negotiations and damage relationships with suppliers, vendors and customers. Meanwhile, the legal team loses opportunities for insight into the contracting process and data, making risk management and compliance more challenging.
Fortunately, hope is within reach in the form of a quickly deployable, user-friendly solution.
Our new white paper, co-authored with Consilio, offers the following insights:
- The problems associated with using antiquated and cumbersome contract management processes
- How the lack of transparency during the contract review and approval process affects a company’s bottom line
- The legal and contractual obligations of contracts and its affect on compliance and risk
- How technology can optimize your contract management process with workflow and collaboration
Download this new white paper, Making Contracting Easier for Legal to learn how to streamline and supercharge your contract management process today.