ROI for Contract Management Software
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ROI for Contract Management Software

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Unlock the value of your contract portfolio. Calculate the return on investment for contract management software. Change how you think about contract management and contract management software. This ...

Unlock the value of your contract portfolio. Calculate the return on investment for contract management software. Change how you think about contract management and contract management software. This presentation puts both in fresh light. Use a new framework to unlock the value of your contract portfolio. This presentation outlines three common myths about contract management. Learn how to improve financial performance through better contract management.

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  • 1. ROIContract management software An executive’s guide to assessing value Contract Analyst 10260 SW Greenburg Road, 4th floor Portland OR 97223 United States ! 1 (855) 517-2193 North America +1 (503) 517-4293 Worldwide ! www.ContractAnalyst.com info@contractanalyst.com
  • 2. ROIContract management software 3 myths about contract management A better method for return on investment evaluation The ROI for Contract Analyst TM
  • 3. Mythsabout contract management 1. Administrative task This myth views contracts as paperwork, necessary only for record retention in the event of litigation. Organizations struggle to keep contract documents together over the entire lifecycle: amendments, exhibits, correspondence. There is little tracking of important provisions. ! 2. Process problem This myth focuses on reducing the cost of the contracting authoring and negotiating process. To improve financial performance organization attempt to optimize the speed of contracting, often with poor results. ! 3. Document management This myth makes the understandable assumption that contracts are documents, so its a document management problem. Document management is a small part of contract management. Businesses need data more than documents to manage the
  • 4. Facts 1. Improve financial performance Businesses operate on a network of contracts for revenue, expenses, assets, and liabilities. Careful management improves financial performance. Software designed to expose the financial structure of contracts and to identify risks can help grow the business. ! 2. Demand expertise To extract more value from contracts, requires a thorough understanding of the risks and opportunities embedded in the terms of a contract. Reports that show performance obligations, insurance requirements, and indemnification provisions add more financial value than processing a language change more quickly. ! 3. Use data to gain insight When contracts are managed as data, instead of words, they can provide insight into the business, especially for the entire contract portfolio. about contract management
  • 5. MethodBENEFITS COSTS Direct financial Protect revenue: prevent revenue contract expirations; structure revenue contracts for best revenue recognition ! Expense control: prevent unexpected auto renewals Licensing: fees, users, documents ! Subscription or maintenance: annual fee, escalations ! Services: third party services, internal services Risk management Identify and prevent breach of contract, by either party ! Manage legal policy exceptions, like choice of law and indemnification ! Insurance coverage tracking Unexpected losses: adverse legal rulings with unknown scope ! Loss of remedies: lack of data prevents timely use of contractual remedies ! Uncovered risks: lapsed insurance Compliance Avoid or mitigate regulatory violations with compliance reviews based on external legal requirements Government regulatory reviews ! Third party enforcement: private enforcement rights
  • 6. ROIBENEFITS COSTS Direct financial Protect revenue: prevent revenue contracts expirations; structure revenue contracts for best revenue recognition ! Expense control: prevent unexpected auto renewals Contract Analyst provides fixed price licensing model. The Enterprise Edition allows unlimited users and unlimited documents. ! Services are defined with a firm price Risk management Identify and prevent breach of contract, by either party ! Manage legal policy exceptions, like choice of law and indemnification ! Insurance coverage tracking Contract Analyst supports risk management with detailed tracking of legal provisions and policies. Compliance Avoid or mitigate regulatory violations with compliance reviews based on external legal requirements Contract Analyst supports improved compliance programs with regulatory tracking and compliance reviews
  • 7. ROIContract management software An executive’s guide to assessing value Contract Analyst 10260 SW Greenburg Road, 4th floor Portland OR 97223 United States ! 1 (855) 517-2193 North America +1 (503) 517-4293 Worldwide ! www.ContractAnalyst.com info@contractanalyst.com