What is Asset Lifecycle Management? An asset is any resource owned or controlled by a business that can provide future economic benefits. These assets can span from physical tangibles, such as buildings, machinery, and inventory, to digital intangibles like software, customer data, or the very infrastructure that supports the digital presence of a business. No …
As the world adapts to rapid technological changes, many of the traditional ways we conduct business are swiftly becoming obsolete. Paper trails are being replaced by cloud storage, in-person meetings by virtual conferences, and most notably, physical signatures are giving way to electronic signatures. This digital revolution is moving companies away from towering stacks of …
Navigating the corners of business is much like a journey; in the same way a hiker may need to improvise tools or find new paths, businesses need to innovate constantly to overcome challenges and stay ahead. In a world where time is money, every second spent on contract negotiations can feel painstakingly long. Businesses yearn …
The world of business is like a swirling cauldron – innovative concepts, strategic insights, and proprietary technologies are bought, sold, and exchanged. These deals are vulnerable as the exchange of confidential information is common. This sensitive data can only be protected against third parties by creating a confidential relationship between parties. To establish this relationship …
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. An electronic 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 …