Contract management software is increasingly being seen as must have rather than nice to have software. Why is this and why choose ContractsWise?
Research by the International Association of Commercial and Contract Management (IACCM) has shown that on average organisations are losing out on the equivalent of 9.2% of revenue through the lack of effective contract management.
To enable the full scope of benefits to be realised will require organisations to engage with a wide range of stakeholders to ensure that the contracts are delivering what the stakeholder expects of them. To do this an organisation can’t afford to lock the contract away never to see the light of day again. Equally an organisation must not let its commercially sensitive information be unsecure.
Contract management software, especially when provided by an ISO27001 certified provider will enable an organisation to refer back to a single source of truth, ensure only authorised people can see the information and also help prevent the leakage of commercial knowledge as people move on to other roles either inside or outside of the organisation.
Systems such as ECMS (The Effective Contract Management Solution) from ContractsWise as well as providing that single, secure location for contract data along with automatic alerts for key dates will also automate engagement with key stakeholders. From this engagement Contract Managers can quickly learn what is working well, what is working not so well and be given ideas on how contract performance can be improved and contract risks can be mitigated.
Contract management software is no longer just the domain of huge businesses or organisations. With the proliferation of cloud based systems, really effective and easy to use and implement software is available at remarkably low costs given the potential benefits and is now being adopted by SME businesses and public sector organisations as well as large international businesses.
So why choose ContractsWise? ContractsWise is an ISO27001 certified business. Its software is easy to use, easy to implement and affordable for any size of organisation. Its ECMs system offers an unlimited number of stakeholder users at no cost enabling full stakeholder engagement. Its ECAS system enables reminder e-mails to be sent to any e-mail address whether or not they are a licenced user, which again enhances stakeholder engagement.