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BART Labor Issue Showcases Importance Of Contract Version Control

Contracts go through several different versions during the creation process and it's crucial for both sides of a negotiation to ensure they are always working off the most current version. In the case of the BART labor dispute, this was not the case, and now, additional legal action has been taken as a result. Amalgamated Transit Union Local 1555 and Service Employees International Union Local 1021 are two of the biggest unions associated with San Francisco Bay Area Rapid Transit (BART). Back in October, the two unions went on strike, which prompted rapid negotiations between workers and the agency to resolve their issues and get the unions back to work. One of the major areas of discussion

Why A CLM Solution Improves Transparency, Efficiency and Accountability

Transparency, efficiency and accountability have long been high on the government's list of priorities for its agencies. Due to the role technology plays in assisting these efforts, President Obama has mandated that federal agencies embrace new technologies, particularly when it comes to managing documentation. To this end, the administration has ordered all federal agencies to transition to paperless processes, which really speaks to the overall trends found in both public and private sectors. Streamline Business Processes In truth, most organizations can benefit from going paperless. Not only does this mitigate the risk of losing physical documentation from theft, misplacement or a natural

Overcome Typical Contract Management Challenges

The challenges that pertain to effectively managing your contracts are plentiful, and many have been discussed recently in this blog. While it is known that Contract Lifecycle Management (CLM) solutions play a major role in overcoming these challenges, you may be wondering just what you can do with your CLM solution to turn potential problems into successes. Here is a sample of some of the ways a CLM solution adds value to your organization: Automate the creation of your contracts - Tools designed to define terms and templates that pertain to specific contract types can help automate the contract authoring process. While most businesses use such templates as a starting point for their agreem

CLM Solutions Can Prevent Accidental Document Deletion

Making mistakes is an unavoidable part of running a business. No organization has a perfect track record and numerous examples can be found of companies with a record of mistakes ranging from the mundane to the egregious. The best any business can do is to equip itself with the methods, procedures and tools to help alleviate the risk of a errors and other problems. Many organizations have strict document retention policies related to their obligations to state and federal authorities. Health records, insurance records, real estate records, records for the IRS, the list is endless. It is in an organization's best interest to follow these policies, but accidents can happen. If a document with

The Simpsons: The Richest Off-Network Deal In TV History

The team behind "The Simpsons" has been making the world laugh for nearly a quarter of a century, and now they are about to get paid. Earlier this month, the producers of America's favorite cartoon family signed a massive contract to go into syndication on FXX — Fox's premium offshoot of its already popular cable channel FX. Variety reports that the deal is worth approximately $750 million, which makes it the most expensive off-network deal in television history. It isn't known if the studio executives said "careful, hot pen!" before the contract was signed, or if it was established that money can be exchanged for goods and services during the negotiation process. It also isn't known if the

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