The old adage “confidence is key” is no truer than in the projects industry. Often though, project-focused organizations lack confidence because they cannot obtain a clear and accurate picture of project and portfolio data. This inability can often be attributed to their use of a fractured web of third-party software, home-grown solutions and Microsoft Excel […]
13 Best Practices for Contract Management
April 9th, 2020
Poor contract management costs companies 9% of their annual revenues. Specifically, once contracts are signed, there is a laid back attitude and a tendency to react to issues late rather than addressing them proactively. On the other hand, having good contract governance practices in place can result in cost savings of 30% to 50%, long-term […]
What is Contract Lifecycle Management (CLM)?
April 3rd, 2020
Most companies, regardless of their size, outsource a significant part of their operations. Yet, contract lifecycle management remains as one of the under-invested disciplines amounting to less than 1% of total spending. Unfortunately, the impact of poor contract governance is huge. For starters, the quantitative impact is estimated at 9% of annual revenues. Additionally, there […]