What is Contract Repository?

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 …

What is Contract Administration? A Comprehensive Guide

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 …

Difference Between Contract and Agreement

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 …

A CFO’s Perspective On Contract Management

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 …

5 Common Contract Drafting Mistakes

In one way or another, all businesses will have experienced initiating a contract. A contract is legally binding and creates a mutual agreement between all parties. They are used for vendors, clients, partners, and employees. That is why when drafting a contract, it’s important that all clauses are clear and all agreements are stated to avoid confusion. …

Service Level Agreement (SLA): The Ultimate Guide

Among the several quirks of Dr Sheldon Cooper from the TV series The Big Bang Theory was the infamous room-mate agreement. And even though the agreement was more than 100 pages long and was hilariously elaborate, there were loopholes pertaining to the lack of clarity about certain terms. For instance, the term ‘emergency’ was not defined, an …