Contract Management 101: Change your life and embrace the basics

Contract Management 101: Change your life and embrace the basics

This guide will help you understand the principles behind contract management and how, with just a little structure and organisation, you can revolutionise how departments work together and how your organisation does business.

Contract management is the process of managing contract creation, execution and analysis to maximize the operational performance of your business and to reduce financial risk.

Contracts are the foundation to driving revenue, so it’s critical that businesses have a process that ensures contracts are signed in a timely manner, risks are minimized and obligations are met.

A prerequisite requirement for the enforcement of a contract, among other things, is the condition that the parties to the contract accept the terms of the claimed contract. Historically, this was most commonly achieved through signature or performance, but in many jurisdictions - especially with the advance of electronic commerce - the forms of acceptance have expanded to include various forms of electronic signature.



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