Contract Management

Contract Management, ThurmanCo, Angela Thurman

9 Benefits of implementing a structured Contract Management system

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Contract Management is critical in helping organizations ensure that contracts are executed effectively and efficiently and that the contractual obligations of all parties are consistently upheld. While many can understand the rudimentary basics of contract implementation, a comprehensive Contract Management system with well-documented processes and procedures can go a long way toward improving company performance …

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What is contract management, and why is it important?

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What is Contract Management? Contract Management involves creating and maintaining agreements with customers, vendors, partners, and employees. Beyond creating these agreements, management over the long-term includes modifying and gaining approval when necessary, sharing and archiving these contracts, and analyzing performance compared to contractual obligations. Formal contract management helps organizations save time, minimize cost, mitigate risk, …

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