Process Improvement for Contract Management
Know What and How to Improve Your Contract Process.
“Process improvement” means to make things better. The best way to improve the contract management process is to identify the root cause of an issue and think of ways to correct it. This may not be an easy fix. Most of the time process improvement involves analysis of why events occur with a certain result. This requires an examination of all of the factors impacting the process: the resources used in the process, the methods and tools used, the roles and responsibilities of those on the contract team, and the people performing the work.
This examination produces key learnings as to what causes things to happen in a process. Once the negative or undesirable activities are identified, this knowledge can be used to reduce variation or inconsistency, eliminate and remove redundant activities that offer no additional value to the process, and then realize a greater return and improved efficiency.
“Process improvement” encompasses both a global and microscopic view of seeing how a team can do its work better, which means increased productivity and reduction of most of these expenses.
ConvergePoint’s Contract Management Software can play an integral part in the process improvement for the entire contract management function in your organization. By implementing our best practices solution, your organization will leverage an effective tool to automate manual processes that are part of the contract lifecycle, as well as product reports for further process improvement analysis.
The ConvergePoint Contract Management Software has unique and dynamic tools that will ensure your organization’s contracts are being approved through the appropriate levels of management, executed in a timely manner, contain all necessary information for auditing, and will notify you of renewals to save recurring costs. These are the typical issues in contract management.
Two comprehensive and turn-key SharePoint sites streamline your complete contract management lifecycle. This easy-to-use solution lets you request, create, approve, manage, and renew contracts on a single contract management site with extensive search and reporting functionality. Our Contract Request Management allows your organization to:
- Implement the solution quickly with seamless migration and customizable plug-and-play features;
- Create custom workflows and automatically assign contract types;
- Coordinate the approval process with a multi-tiered approval process;
- Access real-time status updates throughout the contract process;
- Set task priorities by parameters such as contract dollar amount; and
- Scale our solution to your needs and grow it along with your organization.
In addition to these valuable components of ConvergePoint Contract Management Software—most critically—it allows you to manage all aspects of the contract creation and negotiation process on a single system.
“Process improvement” is more than an event; it’s a mind-set. The leaders in your organization must constantly check reports on the critical processes like contract management to maintain an environment that only progresses. Providing quality tools and techniques that aid in this pursuit as a regular and on-going part of the process allows you to automate busy work like searching for documents, and generate reports to locate your bottlenecks.
An emphasis on process improvement shows your employees, clients, and prospects that your organization’s leadership is forward-thinking and proactive with its expectations on how your organization works with others.