One of the most memorable contract management slip-ups of all time is recorded between 20th Century Fox and Hollywood film director George Lucas (Star Wars, Indiana Jones). In a bid to minimize the potential losses, 20th Century Fox signed over licensing and merchandising rights of the famous Star Wars movies to its director Lucas. At the time, …
The year is 2013. Facebook’s team is trying to detect a breach of its contract with British consulting firm Cambridge Analytica. The latter had collected personal data of millions of users without consent, to be used for political advertising later. What followed next was a series of negative publicity that damaged Facebook’s stock value, eliminating …
Businesses revolve around contracts. And contracts pile up as organizations grow and the number of transactions increases. That’s when companies realize they need a process for storing, tracking, analyzing contracts to reduce financial risk and maximize operational and financial performance. A digital information system that saves and manages a company’s contracts and other contract-related documents is referred …
Contract management has always been a top priority for businesses, but managing them efficiently and intelligently, without putting in hours of effort, is something that many still find challenging. In this article, we will cover some of the ways in which you can save costs through an intelligent contract management software and how Revnue helps you in the …
The stage where a contract is drafted is called contract authoring. As simple as it sounds, the process of authoring a contract is no easy feat. Contract authoring involves considering and understanding the needs of both parties while drafting clauses in standardized format. Contract authoring is never a one-man’s job. It involves several people and …
A contract management software offers end-to-end management for your documents no matter what industry you’re in. It is important that your contract is flawless for many reasons. First, you want the document to be precise and accurate to create a clear understanding between all parties involved. Then you want your contracts to be managed well …
Do you still print your contracts and store them in filing cabinets? If you’re unaware, there is a better way to manage your contracts. Technology has made everyone’s lives more convenient, especially with dealing with contracts. With today’s digital contract transformation, users can now access their contracts anytime, anywhere, and make decisions at the speed …
Ever wondered how businesses involved in large-scale projects such as bridge construction draw up contracts? Recording and anticipating needs and expectations is indeed a herculean task in large contractual projects, apart from getting everyone to sign the contract. This is where the concept of contract administration becomes crucial. Contract Administration vs Contract Management Contract administration …
Businesses that don’t use contracts or manage them properly can face many challenges. Contracts help strengthen relationships and create a good workflow within the organization. So, every business must understand what contracts and agreements are and how they can benefit from them. We’ve all come across the words contract and agreement, but what is the …
As CFOs manage everything that the company buys and sells, they have to deal with hundreds and thousands of contracts on a daily basis. They are not only responsible for managing costs and improving operational performance but also drive innovations and play an active role in business strategy. And for this, they need the right …