Management of contracts made with customers, partners, or employees to ensure compliance with the terms and conditions. As well as supporting a efficient execution, maximizing financial and operational performance with minimized risk.
Contract management is an essential process for any organization in their business relationships with other entities.
It involves the administration of contracts from initiation to execution, including moni-toring and evaluating performance.
An effective contract management will support operational excellence, will partnership benefits, customer satisfaction and cost savings. In this article, we will discuss the top 10 points of contract management.(reading time 7 minutes)