Your contract management system (CMS) is the beating heart of your business, capturing your relationship with customers, suppliers, employees, projects, assets, and liabilities, but your system should be more than an expensive electronic filing cabinet. Without a modern CMS, you are missing out on opportunities for efficiency, shorter cycle times, partnership-based operating procedures, and growth. While the contract lifecycle hasn’t changed that much over the years, how people create, implement, and manage the full lifecycle of contracts has drastically shifted—prompting software to advance with the ever-demanding business times.
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Article first appeared in Modern Contractor Solutions magazine August 2016. Byline contribution by Richard Eckerstrom, CEO of Ecteon.