Contract management is among the most critical aspects of project management. It involves creating, negotiating, and administering contracts between two or more parties. Contracts ensure that all project stakeholders know their obligations and responsibilities. This blog post will discuss the stages of contract management, the features of a good contract, and the importance of contracts in project management.
Month: January 2023
In partnership with In-House Connect (IHC), CounselLink recently hosted a webinar that discussed Diversity, Equity, and Inclusion (DE&I). These tools and tips will allow you to proactively manage law firm diversity.
Risk management in this post-raging COVID-19 pandemic era is more important than ever. Industry benchmarking surveys over the past year make it clear: More tasks and data are under management with fewer vendors and in-house resources to handle the workload. Budgetary pressures are greater. Executive scrutiny is higher.
Guess what? Your business might be losing a major portion of its annual profit due to inefficient contract database management systems. Contracts are an essential part of any business, as they contain information about every dollar that enters and exits the business. Not being able to keep track of this information can cause serious financial and reputational harm to organizations.
With a functioning contract management database in place, businesses can streamline their contract management lifecycle, protect confidential information, and improve productivity. But, how exactly do you create a functioning contract management database? Read down below to find out.
One of the most tedious and high-stakes tasks in any business is managing contracts. In the past 10 years, we’ve seen a proliferation of tech tools that proclaim to make contracting easier, faster, and automated. By 2022, technology was essential for maintaining the visibility of contracts and their progress along the contract lifecycle. Digitization became much more of a need-to-have. However, all the technology in the world will still fail if you don’t have a solid workflow and adoption plan in place first.