By Joan Honig, DocuWare:

If your company is dealing with more contracts than ever before, you’re not alone. The causes for this exponential growth include an increasing number of regulatory requirements, supply chain issues and the complexity of business relationships that are a result of globalization. In addition, employees change jobs more frequently and working as an independent contractor is more prevalent. So, there are more employment contracts, and confidentiality and non-compete agreements to manage. Sales contracts and vendor agreements are a concern for any company that sells or manufactures products and successful contract negotiations are critical because of the pressure to reduce costs. Business partnerships are more common too.

It’s time to stop relying on your memory, reminders on your calendar, checking an Excel spreadsheet or hopping onto Google Docs to find out when a contract is scheduled for automated renewal or about to expire. Missing one of these deadlines can result in paying for services you no longer use or missing out on negotiating better terms for the next contract period.


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SOURCE DocuWare

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