It took innovative thinking to successfully negotiate that contract for new equipment; the documents are signed and sealed and the equipment installed. Job well done. But it isn’t over yet. Because although today all the salient facts are at your fingertips, three years from now this contract will not be top of mind. You might remember the renewal date is coming up, but wasn’t there also a clause in there about getting an early upgrade? If only you could find the file.
And that’s just one contract. What about all the others with various suppliers? What are their obligations; what are yours?
Every business has contracts of some description. An estimated 80% of business-to-business transactions are underpinned by legally binding contracts and agreements. Whether those contracts are big or small, managers need to keep track of each one; their lifecycles, renewal dates, provisions, special clauses, and the myriad of details that are so easy to forget once the papers are signed, sealed and filed away.
If not proactively managed, contracts can put your business at risk for hundreds of thousands of dollars in unrealized benefits or non-compliance penalties. Organizations are increasingly looking to contract management as a way to keep bottom line costs down and increase net revenues from business-to-business transactions. A comprehensive contract management system provides control over manual contracting processes and provides an alert system for finance, legal, procurement, sales and other stakeholders who must keep track of milestones, commitments and obligations.
Dolphin Contract Manager, a contract lifecycle management solution, helps you streamline your contract management needs, capture information previously relegated to dusty files and give managers the information they need with the push of a button, ensuring their organizations aren’t losing money, business or their reputation due to sloppy contract management.
The solution improves visibility into each stage of a contract’s lifecycle. Through the use of advanced reporting and analytics, organizations are able to automate important processes involved in contract creation, management and archiving. Built on Microsoft SharePoint, Dolphin Contract Manager easily integrates with your current technology investments and offers a familiar look and feel with the flexibility to grow with your business.
Valuable information is right at your fingertips. To learn more about how Navantis’ Dolphin Contract Manager can help contact firstname.lastname@example.org today!