Contract management is for dysfunctional companies too

Dropped ice cream cone

If you are considering buying contract management software, but think your company is too dysfunctional to implement it, take heart.

I can assert with some (very minor) authority that as a former business reporter I wrote about many businesses and more than a few had some kind of dysfunction. That didn’t, however, prevent them from operating normally or even being wildly successful.

So if you think your company’s contract chaos is too much to implement contract management software, don’t panic. Most companies are probably at the same level of chaos as yours when it comes to contracts.

Does your department generate dozens of contracts a year – and promptly files them in hard copy and electronic versions in a dozen locations? Does nobody in your company have a clue who has the most current version of a revised contract?

Join the club! The simple fact is, contract chaos is often the “norm” when there is no contract database. One study confirmed that 75 percent of companies don’t store contracts efficiently.

Chaos = Opportunity

Take heart, though, there are solutions that are made to cut through the chaos, such as Contract Assistant. As an added bonus, the benefits can be immediate and long lasting as well.

Upon converting their scattered, unorganized files into electronic records in one database, you may discover (as other customers have):

* The full scope of how many contracts your company generates

* The distribution of types of contracts your company both generates and signs.

* Discrepancies between contracted costs and invoiced costs (which can result in immediate and significant savings).

* You can now produce financial information summary reports that will be useful for budgeting, planning and operational needs.

* Your department and company can stop being surprised by contract end dates thanks to the ability to set alarms on key dates and events (such as 60-days from the end of a contract).

These are just a few of the immediate benefits. Want to find out more? Here is what our customers say.

Hint: A bigger win for you

Another thing to keep in mind: Whoever leads the charge to bring order to chaos and succeeds will earn more than a few gold stars from their employer.

You don’t need to be a database expert either to manage Contract Assistant. Ease-of-use is not just some talking point with Contract Assistant – it’s a reality.

While some of the people who manage our software are database administrators, there are just as many (indeed, more) who have all types of titles and roles.

So no matter where you fit in your company’s organizational chart, there’s a good chance you can be the one to create order (and benefits) from the chaos that is your current contract mess.

[About the author: Todd Hyten is a former business journalist who now writes about B2B topics and consults on content marketing. You can find him on Twitter and ]

Photo Credit: Johnath via Compfight cc

 

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