Here’s how to successfully move your contracts and contract management to the Cloud and why it’s a business imperative.
When it comes to the Cloud, it seems every business function has its own unique solution—Sales has CRMs, Procurement has digitized purchasing and eProcurement systems, Finance has a plethora of software options, and the list goes on. What’s missing from this list? Contract management.
This oversight is an issue, especially for high-volume businesses and multinational corporations. An antiquated system of records for your contracts is a chronic pain point and can lead to time-consuming processes for negotiating, delivering, and signing contracts, delaying business deals and revenue weeks or months. And agility? Non-existent. Yet, contract management is an essential part of creating business processes that deliver sustainability, savings, and increased revenue, all things necessary to gaining market and mindshare.
In today’s fast-paced digital world, where businesses need to be able to support ongoing transformation without sacrificing productivity or compliance, the Cloud is quickly becoming synonymous with success. A strategic tool for contract management, few other business decisions have as rapid a time-to-value—enhancing operational efficiency, reducing costs, increasing security, and accelerating revenue.
The question becomes then not when do I move to the Cloud, but how?The Essential Guide to Moving Your Contracts to the Cloud outlines key benefits of a cloud-based platform for contract management practitioners, unique considerations for moving contracts to the Cloud, and offers critical insights for streamlining contract processes, making them more accessible, scalable, and powerful.
- Overall business benefits of a cloud-based approach
- Unique considerations for what cloud computing means for contract management
- How to select the right solution a 10 key question checklist and why each matters