![]() ![]() Software that offers automated contract workflows reduces contract lifecycle delays because it engages the right people at the right time with features such as automatic alerts, unlimited contract notifications, and task reminders. Say Hello to Intelligent Contract Workflow Management Delayed task completion on the part of anyone involved brings contract lifecycle workflow to a screeching halt, forcing entire teams to wait for the fulfillment of tasks.Īdditionally, overseeing contract changes, key dates, milestones, and employee task performance on a shared spreadsheet or a cluster of spreadsheets leaves a lot of room for data entry mistakes – possibly leading to error-filled contracts and a lack of employee accountability.Ĭontract managers must leave spreadsheet-driven workflow management behind and adopt a more efficient system for 2020 and beyond. Say Goodbye to Spreadsheet-Based Workflow ManagementĬontract workflow management involving spreadsheets is an outdated process that necessitates contract managers to oversee every stage of the contract lifecycle to verify that all involved parties are completing their assigned tasks. Thus, organizations should step into 2020 with contract management software that reduces cost, unifies and secures contracts, streamlines operations, expedites compliance, and saves valuable time. ![]() ![]() Say Hello to Next-Level Contract ManagementĪlthough investment in cutting-edge and advanced contract management software may initially seem substantial, the long-term positive effect on organizations makes it clear that the spreadsheet approach to contract management will be much more costly in the long run. However, once the number of contracts managed per year reaches hundreds or more, organizations reach a point at which spreadsheet-based contract management no longer suffices – potentially leading to detrimental consequences regarding transparency, security, compliance, productivity, and accountability. Low-cost contract management involving spreadsheets may seem like a good idea at first, given the fact that it provides a base level of control over contracts and seems cost-effective for organizations with a small number of contract records. Such practices should stay in the past contract management professionals should begin 2020 with practical, centralized, user-friendly, and scalable contract lifecycle management solutions. Spreadsheet-driven contract management processes are error-prone, time-wasting, inefficient, disorganized, and lacking in security. ![]()
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