Managing hundreds and thousands of contracts can be a difficult task. Contract lifecycle management best practices like these 7 tips we have put together can help eliminate bottlenecks and increase, as well as recognize, revenue.
Create and Use Templates
Companies should create and use templates that are used throughout the organization. Utilizing contract templates will help ensure concise and consistent formatting on each of the company’s contracts. Above format, templates for contracts will also standardize language regarding various parts of the contract such as terms and clauses. This increases professionalism and integrity across the enterprise.