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Targeting Risk with Effective Contract Management
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"Targeting Risk with Effective Contract Management"

In the contract management life cycle, what does “risk” entail? What are the areas of greatest risk? How can risks be addressed effectively?

Many organizations use their contract management platform primarily for contract storage. But in reality, a robust contract lifecycle management (CLM) solution offers so much more than that. 60 to 80 percent of B2B deals are managed by contracts, with companies managing on average 20,000-40,000 contracts per year.  If this critical business process is not handled accurately and efficiently, it can create significant risk and losses for an organization.

Comprehensive contract management – facilitated by a CLM solution – is critical to mitigating risk and reducing loss related to contracts. A contract management platform is an investment that offers tremendous ROI to any organization, including:

  • Process streamlining and efficiency gains
  • Improved business flow though insight into how contracts move, perform, and bottlenecks
  • Reduced risk and improved compliance
  • Source policy and contract language enforcement
  • A way to develop policies and best practices around contracts

Integrating a comprehensive CLM solution can lead to 60% faster contract cycles, 50% faster negotiations, a 40% savings in administrative costs, and a 10-30% saving in operating costs.

Even more importantly, a good CLM can provide overall ROI of 150-200% in one year. This is why you can’t afford not to have a CLM platform.

Download this eBook, to learn more about how contract management improves compliance, reduces risk and improves business efficiency, providing tremendous ROI.

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