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Top 3 Challenges To Effective Contract Management

There are challenges that pertain to just about every area of business. Managing contracts, whether, they originate internally or externally, is no different. Companies that develop and maintain contracts with multiple parties, particularly those that originate off shore, face many challenges that could impact the effectiveness of their contract management processes. There are several challenges pertaining to contract management that can be difficult to overcome without proper Contract Lifecycle Management (CLM) tools. Here are a few of the more prominent potential difficulties: Tracking global contracts: Suppose your organization either has geographically dispersed offices or you conduct bu

International Contract Management: CLM Solutions Provide the Information You Need

Make no mistake about it. Managing contracts at a large firm can be a daunting task. As a minimum, there are several pieces of critical information to be cognizant of at all times. The terms, the expiration dates and cost to terminate are just some of the data pertaining to each contract you will need to know. Now multiply that by 1,000 or even 10,000, depending on the size of your organization, and the challenges become even greater. Throw in an international component to your operation and managing all of this information could seem like an impossible endeavor. Unless, of course, you have the right Contract Lifecycle Management (CLM) solution. That's what Deb Weidenhamer, the chief executi

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