Contract Management is the process of managing contracts between a firm and its clients and administrative tasks need to be extremely efficient and effective. For more details please visit https://www.violintec.com/contract-management/contract-management-all-youll-ever-need-to-know/

1. Contract Management: All You’ll Ever Need to Know
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2.  Contract management and administrative tasks need to be
extremely efficient and effective.
 To begin with, it must guarantee that all relevant parties are
satisfied with the agreements.
These contractual connections remain in place and are
profitable, ensuring that the company reaps the rewards of every
agreement and maximizes its financial gains.

3. What Is Contract Management?
Contract Management, often known as contract lifecycle
management (CLM) or contract administration, is the process of
managing contracts between a firm and its clients, suppliers,
distributors, contractors, and employees.

4. What Are The 5 Stages Of A Contract?
 Contract creation
 Contract negotiation
 Contract approval and execution
 Obligation management
 Reporting, auditing, and contract revisions

5. What Are The Four Components Of Contract Management?
 Relationship management
 Performance management
 Establishing Governance
 Contract administration

6. What Is Most Important In Contract Management?
 Making monitoring and tracking performance easy
 Streamlines contract approval process
 Store all contracts in one place
 Set automated contract alerts
 Integrate with your ERP

7. What Should A Contract Manager Know?
 Keeping close business relationships with customers and
seeing to it that their needs are addressed
 Meeting with clients to discuss legal and business issues
 Drafting and amending a variety of customer contracts
 Ensuring that every record is current and accurate
 Letting interested parties know about the deal
 Investigating contract-related problems, including any
violations of the contract
 Tracking contracts and choosing whether to renew, extend, or
terminate them
 Helping clients follow statutory requirements

8. For more details please visit
https://www.violintec.com/

9. Thak You
Your Global Contract Manufacturing and Sourcing Partner
THANK YOU