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ConvergePoint Contract Management Software is an easy-to-use and effective tool that allows an organization to implement these methodologies to improve efficiency, reduce costs, and deliver added value to clients.
Many have heard the term Six Sigma. Yet many are not exactly sure what it means. In some organizations, Six Sigma is merely used as a term to indicate the measure of quality with the ultimate goal of perfection. Six Sigma is actually defined as “a disciplined, data-driven approach and methodology for eliminating defects (driving toward six standard deviations between the mean and the nearest specification limit) in any process.” This quality improvement process can be applied in almost any type of organization and has been used in manufacturing, professional, and service industries.
“Lean Six Sigma” is a tool used by businesses to streamline their manufacturing and production processes. The primary goal of Lean Six Sigma is to eliminate unnecessary and wasteful steps in a process to ensure that only the steps that directly add value to the product are considered. In the Lean methodology, to determine the value of a step or component is to think about whether a customer would be willing to pay for it. Anything in the process that fails to add value is to be removed. This will result in an extremely streamlined and profitable process that will flow smoothly and efficiently.
Although Six Sigma and Lean Six Sigma strive for the same objective, they have separate approaches as to how to achieve this goal. Simply put, they determine the root cause of waste in different ways. Lean says that waste is derived from unneeded steps in the process that do not add value, while Six Sigma proposes that waste is the result of variations within the process.
There’s a growing trend in corporate law departments and in law firms to implement Lean Six Sigma as a means of continuously improving the way these professionals deliver their services beyond the traditional cost control approaches. ConvergePoint Contract Management Software is an easy-to-use and effective tool that allows an organization to implement these methodologies to improve efficiency, reduce costs, and deliver added value to clients.
By effectively managing the contract lifecycle in your organization, legal departments and other professional organizations are uncovering these unneeded steps in the contract management process that do not add value. For example, the Contract Request Management allows your organization to:
When everyone in business is expected to make greater contributions to the bottom line and to do more with less, implementing a tool that creates an environment of process improvement and increased efficiency is critical to getting ahead in today’s market.
After investing time and resources creating these policies, make sure employees read, understand and apply them to their daily job responsibilities! How? Read the Guide on How to Ensure Employee Accountability & Compliance through Effective Policy Management.
Manage employee and teacher contracts, sponsorship deals, city and state regulations, and partnerships.
Create and manage employee contracts, improve organizational transparency, reduce risk factors, and mitigate lawsuits.
Comply with HIPAA, HITECH, ICD 9, ICD 10, and FDR CFR regulations for contract management, and handle active directory contracts for your organization.
Comply with SEC, FDIC, FINRA, OCC, CFTC, and Federal Reserve regulations on contracts, handle employee contracts, and partnership deals.
Manage supplier and vendor contracts, employee and staff contracts, distribution contracts, and facility leasing and ownership contracts.
Abide by local, regional, state and federal regulations, manage contractor information, develop third-party outsourced contracts, and handle facility agreements.
Comply with FAA, DOT, FMCSA, FRA and FTA regulations for contracts, outline contracts for drivers and vendors, and reduce potential risks.