Buy-side and sell-side contracts are some of the most common types of contracts businesses deal with on a daily basis. However, most people are still confused by the contents of each contract and what they mean for their business. Having a deeper understanding and knowing the difference between these contracts is imperative to draft stronger, compliant contracts and ensuring organization-wide ...
Negotiated Terms Contracts are the life-blood of every business. These negotiated terms govern the way companies interact with their stakeholders and ensure that the company is protected in a constantly-evolving business environment. Over the past few years, heightened customer expectations, disrupted supply chains, changing market dynamics, and rising inflation have pushed companies to re-evaluate their contracting process and stay competitive ...
In today’s fast-paced business world, legal departments are bombarded with multiple contracts which they have to draft, analyze and send to their respective stakeholders. They are required to stay on top of any renewals or obligations, which can be extremely inconvenient without a centralized source for their contract management. Contracts are managed by various departments such as legal, finance, procurement, ...
Inflation has hit multi-decade highs across the globe with the US CPI index rising over 8.3% in the last 12 months. Despite the continuous moderation of federal governments to curb inflation, commodity prices have skyrocketed and companies are facing the brunt of it. Companies are pulling multiple levers to manage margins eroded by rising oil and commodity prices, supply shortages, ...
Are you doing business with small enterprises? If so you may be at risk for non-compliance under the new UTC reform bill ...
Greetings from Volody Products Inc.! One of the most competitive industries existing in the 21st century is the healthcare industry. With raise in medical tourism, growing infrastructural facilities in the medical care industry, drug trial, insurance cost, M&A, increased regulatory requirements, decreased governmental expenditure and rapid privatization, it has become quintessential for the healthcare industry to manage the contracts with ...
Greetings from Volody Products Inc.! The future is virtual. Countries across the globe are building up their digital proficiency by adopting advanced and deep technologies. Digital revenue for the FY 2021-2022 saw 5x growth as compared to other industries. To breed and promote start up culture, the government has allowed 100% FDI in Data processing, Software development and Computer Consultancy ...
Contract managers in every organization are under constant pressure to design strategies that drive significant impact and deliver value in terms of cutting down on costs, time, risks, thereby, improving overall performance. The optimal KPIs for contract management are ones that are build around “SMART” goals, which means the deliverables are specific, measurable, achievable, result-oriented, and time-constrained. Contract Efficiency, Contract Effectiveness, ...
A sound contract management system requires executing standard best practices at all levels of an organization and making sure that the contract management process is complied with. Enterprise contract management software allows companies to improve business outcomes through automated contract management processes. The right platform can reduce risk, speed up business and optimize results. Good contract management transforms core operations ...
Given your busy calendar, it may be difficult to keep tabs on your company’s contracts, however, not properly managing your contracts, can result in serious legal, reputational and financial risks. According to World Commerce and Contracting, inadequate contact management costs organizations 9% of their bottom line and can waste significant amount of time as well. Not paying attention to contract ...