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Policy management resources, best practices articles, guides and how-to's can help optimize your processes.
Contract management resources, articles, guides and how-tos can help you improve efficiency.
Resources, best practices, articles, guides, and how-tos to effectively manage incidents.
Articles and guides on conflict of interest disclosure on how to properly handle potential conflicts.
Strategies on building frameworks for managing risks and staying up to date with regulatory developments.
How do your paralegals and legal administrators spend the majority of their day? Do they go on wild goose chases looking for contract information? Are they worried about missing emailed contract approvals or contracts that have mysteriously fallen off the priority list?
When it comes to contract management, here are the top five most frustrating and time-consuming activities that paralegals and legal administrators deal with (but shouldn’t have to):
It may seem like it only takes a few minutes to search for a saved email or scroll through a few pages of search results, but that time adds up — especially when your contract management professionals have to sift through hundreds of old contracts while juggling dozens of recently created contracts.
Having good contracting processes equates to stronger annual revenue numbers, according to an International Association for Contract and Commercial Management article. In fact, “on average, weaknesses in contracting resulted in losses equivalent to 9.2% of annual revenue,” according to research done by IACCM.
So how can your legal department resolve a large number of these issues to increase efficiency and streamline the contract lifecycle?
The solution doesn’t have to be complex, costly, time-consuming or training-intensive. Your system, in fact, needs only to have a few basic features:
Want to take it a step further without spending a lot of money, time and resources on deploying and learning a new system? Contract Management Software offers all of these features and more, and will alleviate many contract management issues. At the same time, Contract Management Software enables your legal team to stay on top of their processes, from contract requests and signoffs through contract renewals and obligation management.
When you are looking for guidance on how best to organize and streamline the contract management process, ConvergePoint can help. We’ll discuss your goals, challenges and how Contract Management Software will save your paralegals and legal administrators’ time, boost productivity and alleviate frustrations.
Next step: Read a step-by-step guide on how to set up an automated contract management system.
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.
Manage supplier and vendor contracts, employee and staff contracts, distribution contracts, and facility leasing and ownership contracts.
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.
Create and manage employee contracts, improve organizational transparency, reduce risk factors, and mitigate lawsuits.
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.
Visit our resource library for industry best practice tips and for case studies on how our software has helped clients in your industry.