Every day we talk to companies about their enterprise contract management systems, and every day I hear substantially the same thing. Help us automate the drafting of our contracts and we’ll be all set.
Contract Management is not about business process efficiency. Sure, you can be more efficient by using a template system, but contract management is really about risk. What’s in your contracts is more important than what’s on the paper.
The reason many contract management programs struggle is that they fail to deal with the elephant in the room; legacy contracts represent the current risk view, not future contracts. Without addressing your legacy contract assets, you’re not addressing the areas of risk most likely to jump up and bite you.
Unfortunately, most contract management systems focus on document automation and workflow. While companies need these things, they are often the most difficult to implement because they represent change- change in both processes and organizations- and they can be VERY expensive.
That’s why we developed the Contracts Hub. The Hub gives you the ability to store, report and analyze your legacy contracts regardless of how they were created. Once you have that mastered, you’ll be able to see the areas of risk in your contract assets. That’s step one in our maturity index. The Hub is cloud-based for easy implementation, fixed price for both implementation and number of contracts so it’s easy to budget for. The end-user reports are pre-built so a user can be viewing contract data in less than an hour of training.
Make your life easier. Start where the risk is greatest- and the value.