You know how important contract management can be to your organization’s success. And you know better than anyone the potential risks of trying to manage contract data using an outdated system.
But how can you convince senior management that it’s time to take action and invest in a new system? By building a solid case that demonstrates how smart contract management can address your company’s most pressing business challenge.
First, you need to identify that challenge. Which of the four core business needs is top priority in your organization?
- Sales growth. Companies in high-growth situations have a laser focus on increasing revenue as rapidly as possible.
- Reduce costs. Companies in a cost-reduction environment are focused on budget cuts, budget sweeps, staff reductions and outsourcing.
- Improve productivity. Businesses focused on productivity typically seek to optimize the front line for total throughput and/or optimize the support and back-office functions.
- Ensure compliance. All companies must ensure compliance with regulations, however, compliance rises to the top concern of senior executives when there are or have been threats to the organization.
How can contract management help?
The right contract management system can help meet all four of these business needs – by providing the key information that other departments need, when they need it. To do that, the system must have the following capabilities:
- Centralized storage
- Controlled access
- Quick and detailed search capabilities
- Proactive reporting
- Automatic alerts and notifications
- Full scalability
Interested in learning more to help you make your case? Download our complimentary white paper, “Contract management and business needs: Find the driving business need in your company”
Merrill DataSite® 