contract records
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Managing various types of media and entertainment contracts from varying locations with multiple departments and roles can be an arduous process – especially when relying on disparate methods such as emails, wet signatures, shared network drives and cloud-based spreadsheets. Dealing with and tracking a high volume of contracts – from intellectual property contracts to talent agreements, among many others – can be tremendously challenging without a leading contract management software that centralises your contract lifecycle management processes. Read on to learn how a centralised CLM software suite can help you achieve pre-award to post-award entertainment and media contract management success.
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Contract administration can bring forth a host of challenges. Between establishing a contract administration plan, following through with that plan within a set timeline, tracking contract financials, overseeing the contract lifecycle and planning for risk variables, contract administrators have a lot on their plate – and a lot of room for error, contract risks and bottlenecks. Fortunately, contract management software can help. Here’s how. Contract administration is the planning and execution of contracts. It involves oversight of contract lifecycle management and the tracking of counterparties, contract financials, employees, contractual risk, contract security and access, and contract management KPIs.
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Managing government contracts with disparate processes such as shared drives, email, disorganised documents, and disorderly spreadsheets can prove challenging and leave your organisation vulnerable to undue risk. Public contract managers implementing such disparate contract management methods can transform their processes and maximise their budget by fiscal year-end by investing in a robust contract management software system that can seamlessly evolve with their organisations’ needs. Contract management professionals can streamline their processes with the help of an end-to-end government contract management software suite.
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Reviewing contract risk can be time-consuming, challenging,and stressful. Manually assessing risk factors can cost your organisation extra time and money while increasing the risk of inadvertent human oversights. While you can do your best to carefully track risk factors, including negligent clause language, this can prove challenging when dealing with multiple stakeholders and pressing deadlines. Read on to learn how three contract risk management tools within contract management software can help protect your organisation from the risks of poor contract management and, in some cases, your job.
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Do you manage contracts in a small to mid-size organisation? Or, do you manage a large amount of contracts and need a basic yet streamlined contract management solution for optimal control and oversight? Regardless of the position or size of the organisation you are a part of, contracts are integral to your organisational processes. From client contracts to employee contracts – among many others – your organisation’s contract management KPIs can be hindered by contract non-compliance, disorganised pre-award contract processes.
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