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 8 Steps to Selecting a Contract Management SolutionOnce you've decided that improving your contract management is crucial, you'll be seeking a technological solution. At this point, another danger looms: an ill-defined process that causes delays, leads to "project creep," and threatens to replace one set of risks with another. Here are eight action steps to prevent delays and help you reach your goal. Establishing Selection Criteria for Contract Management SoftwareOnce you've determined that doing a better job of managing contracts is a priority and you've decided to look at off-the-shelf software, the next step is to establish selection criteria. Achieving Effective Contract Management: First Steps Toward a SolutionYou may have suffered a costly oversight or a scary close call. Whatever the reason, once improving contract management has become a priority, the next step is figuring out what shape the solution should take. Before you can achieve this goal, you're faced with some basic decisions. Important vs. Urgent: The Crisis TrapConstantly operating in crisis mode is exciting but dangerous. Contract management is a good example of an important but not urgent issue that has a nasty habit of demanding attention in the most expensive way at the worst time. Here are suggestions for a process that can help shift the balance from short-term firefighting to true productivity. The Case for Better Contract Management: Reducing Risk, Cutting CostsBusinesses can't live without contracts. But it's often questionable how well we're living with them. What's hidden in the fine print in your filing cabinets can threaten the health of your organization. Avoiding the 4 Icebergs of Hidden Business RisksThere are the business risks we're all aware of. And then there are the ones that lurk in the fog of day-to-day corporate life. Like icebergs, what pokes above the surface only hints at the danger. Here's how to recognize and deal with four of these hidden risks.
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