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Contract Management Systems Have Evolved From Expiration Date Lists

The traditional mindset regarding contract management is changing. In the past, contract management tools consisted of a spreadsheet that listed each contract, an expiration date and a few key pieces of information. This let managers know what contracts were currently active and when they were scheduled to expire, but little else. Is this important information? Of course it is, but it is very limiting. If one is rigorous, it can allow managers to take appropriate actions like renewals and renegotiations prior to deadlines, but only if dates are not missed. In a similar manner, contracts have traditionally been executed, filed and generally not looked at again until it was time for renewal. T


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