Flaws in Contract Management

Contract Management Flaws that are Submarining your Business

(from apttus.com, link to original article at the end of the post)

Whether companies realize it or not, Legal is at the crux of everything your company does, from compliance risk to payment agreements to customer relationships. Yet most companies are under performing when it comes to contract management, causing a tremendous amount of administrative heartburn for legal and worse costing your business bottom-line revenue. When Legal struggles, your enterprise suffers.

Apttus recently conducted a survey to understand how Legal departments in Fortune 1000 companies are performing in regard to contract management and process efficiency. This report identifies the three critical obstacles – poorly optimized processes, wasted legal expertise, and a general lack of visibility into contract obligations – that are hindering legal and companywide goals. Key findings include:

  • 40% of companies’ legal departments lack insight into critical contract information
  • 61% of companies admit they aren’t easy to work with
  • 57% of companies don’t know their customers’ needs

 

http://apttus.com/legal-survey-contract-management/

You may download the report from the above link.

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