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Sheila Keller, Marketing Strategist

Contract management and the ECM business impact

Has your company spent a lot of time and energy negotiating terms to agreement s and contracts, but failed to inform the people who are affected by these negotiations or those who are responsible to meet those obligations?

Do you know if the contracts you have in place right now are meeting the obligations you committed to, or if Vendors you have contracted with are meeting their obligations to you on services and pricing?

How would you know – or prove it – if you can’t find the contract?

By implementing an Electronic Document Management solution (EDM) or Enterprise Content Management solution (ECM), you will have the ability to automate processes that allow you to easily store, retrieve, and route them to the appropriate people. A document management solution that addresses Contract Management can go even further by tracking a contract through its entire life cycle, alerting the right people to terms that go beyond renewals or terminations.

What would it meant to be able to take advantage of potential discounts and renewal incentives before contracts reach expiration. The right ECM solution can address can address contracts enterprise-wide from facilities management to IT contract management and more. Anyone with rights to access can view contracts in minutes with just a few simple mouse clicks, so it’s clear what vendors’ responsibilities are, what your responsibilities are and if pricing structures are being adhered to.