Your business depends on ongoing revenue — as stipulated in contracts, which are created with customers and vendors. Part of nurturing these business partnerships with customers and vendors — and determining which ones are the most profitable and advantageous — is analyzing the value of these contracts.
Letting contracts expire or auto-renew results in missed opportunities, not only to determine the contracts’ value and success, but also to evaluate and maintain your business relationships. When you have hundreds or thousands of contracts to manage, how can you make sure contracts aren’t accidentally forgotten or overlooked?
Contract Management Software’s obligation management provides peace of mind and ensures accountability by managing and sending automated alerts and notifications. Simply input the guidelines essential to your company during implementation, and your legal department and contract managers will never miss a deadline, extension or renewal.