3 Sample Contract Lifecycle Management Use Cases

3 Sample Contract Lifecycle Management Use Cases

By Contract Lifecycle Management

By eliminating most of the tediousness, oversights, and loopholes that often plague legal agreements, contract lifecycle management (CLM) has the potential to significantly improve your company’s bottom line, protect brand reputation, and boost overall synergy between your organization and the other companies that you frequently do business with. Even better, the benefits and usefulness of CLM are not limited to any industry – every industry needs it. However, as a business owner, maybe you are still hesitant, or you’re not yet convinced about what CLM can do for your kind of business. 3 Sample Contract Lifecycle Management Use Cases Below…

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5 Stages of Contract Management - All You Need To Know

5 Stages of Contract Management – All You Need To Know

By Contract Lifecycle Management

Explained in the simplest terms, a “contract” is a legally binding agreement between two or more parties involving the exchange of money, goods, services, or promises. As organizations aim to get their business done faster while delivering the best services to their clients, contracts will continue to play a vital role in every industry imaginable. In the past, contracting used to be a simple and relatively straightforward process; a contract started with an agreement to exchange and concluded when that exchange was fulfilled. But with some contract figures now running into millions of dollars and multiple parties across different continents…

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4 Main Contract Lifecycle Management Benefits

4 Main Contract Lifecycle Management Benefits

By Contract Lifecycle Management

These days, it is a common business practice for organizations to regularly rely on legal agreements to get important business tasks done. From vendor-related processes to supply chain and procurement, from staff recruitment and employment to facility management and real estate matters, etc., contracts play a pivotal role in how we get work done. However, successful contracts don’t happen based on set-and-forget principles. Rather, it is necessary to manage and track every stage of a contract’s lifecycle to achieve the best performance and compliance. Traditionally, this process was managed through manual paper systems that left too much room for errors….

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5 Reasons Why You Need A Central Contract Repository

5 Reasons Why You Need A Central Contract Repository

By Contract Lifecycle Management

If your business has been in operation for a number of years, the chances are high that you must have participated in a number of contracts over the years. But if you were asked to provide some contract information from a couple of years back, how long would it take to find that information? Can you pinpoint for sure your best and worst performing contracts? On closer scrutiny is the  answer you just gave accurate? Have you made more profits or losses from contracts so far? As more years roll by and your business continues to sign even more contracts,…

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When Should a Business Get an IWMS

When Should a Business Get an IWMS?

By Property Management

As the owner or manager of a considerable real estate holding, you are often in a position where you are actively seeking innovative and viable solutions to optimize your business operations. A leading solution that you will no doubt come across during your search will include integrated workplace management systems (IWMS). But let’s assume that you’re not fully convinced yet about the need for an IWMS. After all, this is a major step for any business that will also require full commitment on your part. In view of that, here are just a few telltale signs that show that your…

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Transitioning from an Old to a New IWMS

Transitioning from an Old to a New IWMS

By Property Management

There may come a time when you find that your current integrated workplace management systems (IWMS) no longer serves your purposes, e.g. maybe it has become cumbersome, outdated, or it’s no longer supported. Or maybe your organization has simply outgrown it. Whatever your reasons, moving from an enterprise-wide software platform like an IWMS to a new one comes with challenges especially when you consider the most critical concern – preserving the data integrity of hundreds, thousands, and more of valuable assets, during the migration process To help you avoid what could become a considerably complex and frustrating IWMS migration experience, we…

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Common Mistakes When Deploying an IWMS

Common Mistakes When Deploying an IWMS

By Property Management

As integrated workplace management systems (IWMS) and other facility management software continue to be game-changers for organizations globally, it’s expected that more and more companies will choose to deploy these software. However, if you’re about taking this step, do you know what mistakes to avoid? And, is the IWMS vendor you’re considering demonstrating that they know the pitfalls to guard against during this crucial process? Although an IWMS is the ideal platform for managing a company’s facilities, property-related information, and technologies in one place, it is not a “silver bullet” for all your organization’s challenges. Deploying an IWMS has a…

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How An IWMS Can Boost Employee Satisfaction And Productivity

How An IWMS Can Boost Employee Satisfaction And Productivity

By Property Management

One of the largest determinants of workers’ well-being is their physical workspace that’s according to several resources and studies such as this article published on Forbes.  Employees are likely to be happier, more engaged, productive, healthy, and happy if they like the environment where they work. Other reports and indices, like Gensler’s Workplace Index make a strong connection between the physical workspace and employee productivity. So as a modern organization that seeks to thrive in today’s increasingly competitive market, it’s essential that if you want to attract and retain the top talents in your industry, your company must create an…

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IWMS and Workplace Safety

IWMS and Workplace Safety

By Property Management

Workplace safety is a major concern for any employer because accidents and health issues are not only costly, sometimes the consequences can be irreversible. Fortunately, with an integrated workplace management system (IWMS), your organization stands a better chance of minimizing workplace safety incidents in the following ways: Hazardous assets tracking and maintenance To help ensure the safety and well-being of everyone using your building, important IWMS features that you will need are the asset management combined with the convenience of work order management all in one platform. This empowers you to create and assign work requests for hazardous equipment in…

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Types of IWMS Software

3 Types of IWMS Software (Comparison, Pros, and Cons!)

By Property Management

The decision to implement an integrated workplace management system (IWMS) is an important and commendable step that comes with several transformative benefits for your business. However, it’s not a project to be taken lightly because this process will require that you invest some time and capital. It’s therefore vital that you know what to expect and that you are guided in choosing the best IWMS for your organization. Anything else could turn into an operational and financial nightmare. To help you make the right decision and avoid problems down the road, let’s start by asking: Do you know the different…

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