2. INTRODUCTION
• Contract management is the process of
managing contract creation, execution and
analysis to maximize operational and financial
performance at an organization, all while
reducing financial risk.
• Contract management proves to be a very time-
consuming element of business, which facilitates
the need for effective and automated contract
management system.
3. Stages of contract management
• Initial requests
• Authoring contracts
• Approving the contract
• Execution of the contract
• Obligation management
• Revisions and amendments.
• Auditing and reporting
• Renewal
4. Elements of successful contract management
When a contract management strategy is successfully
implemented, organizations can expect to see:
The expected business benefits and financial
returns are being realized
The supplier is cooperative and responsive to
the organization’s needs
The organization encounters no contract disputes
or surprises
The delivery of services is satisfactory to both parties
5.
6. Contract cycle time decrease
More deals
Revenue Leakage stop
Visibility Increased
Control and security increased
Benefits of Contract Management System
7.
8. PROCESS OF CONTRACT MANAGEMENT SYSTEM
Consolidation
Task automation
Process efficiency
Contract Performances
9. Contract Management software can be
used to manage the contact request,
capture the data related contract .
Based on this system we can improve
our business and relations in the
market.
