Traditional contract management software is expensive to install and customize and requires lengthy and expensive implementation. Because these software solutions are so expensive, companies try to implement the whole process (to get the full value of their investment) all at once when that process is not well understood or agreed upon. The result is poor process automation, not streamlined contract management.
Based upon IACCM's and Aberdeen's research and input from customers, the following seven best practices that will help you overcome the above challenges and put you on the path to contract management success.
- Find a Conductor
- Start Small and Grow Gradually
- Focus on Quick Wins
- Communicate Successful Usage
- Measure
- Benchmark
- Say NO to Managing Technology and YES to Managing Contracts
