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Business, Contract Management, Technology

What is a bilateral contract?

A simple guide From simple deals between friends to complex business arrangements, contracts play a crucial part in defining the terms and conditions of an agreement. One common type of
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Business, Contract Management, Technology

What is ratification in contract law?

Contract law – what you need to know Contracts are the foundations of trust, in both business contexts and everyday life. Understanding contract law empowers you to navigate agreements confidently
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Business, Contract Management, Technology

Procurement in contract management

In 2025, the e-Procurement landscape will be marked by solutions that are efficient yet resilient, simple, and adaptable. Leading providers are already at the forefront with eProcurement software designed to meet these shifting demands. Looking ahead: key trends in 2025 Some of the
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Business, Contract Management, Technology

What are the four components of contract management?

Managing contracts and maintaining contract process efficiency can be challenging – especially without an understanding of contract lifecycle management and the proper functionality to succeed. In fact, 25 percent of contract management professionals we asked
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Business, Contract Management, Technology

The five goals of contract management

What is the goal of contract management? This question is essential for legal operations professionals to ask themselves when forming their approaches to better governance over processes. This post will
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Business, Contract Management

What is contract management software for government contractors?

Contract management for government contractors demands meticulous attention to detail and leaves much risk of error. These contractors work with an almost endless supply of different government agencies. Different levels
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Business, Contract Management, Technology

What is the contract performance management process?

Contracts serve as the keystone around relationships between companies, vendors, clients, and other stakeholders. However, a contract is only worth its performance. Legal professionals need to understand and manage the
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Business, Contract Management, Technology

How to structure a contract management team for success

Contracts may not be glamorous but they’re the backbone of any business, and if not managed well can quickly transform into a nightmare of missed deadlines, litigation headaches and lost
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Business, Contract Management, Technology

Why is contract lifecycle management important

Contract management. To many, the phrase evokes images of crowded file cabinets with reams of paper, complicated email threads and the constant fear that some critical bit of information will
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Business, Contract Management, Technology

Goods and services in contract management: a crucial distinction

In contract management, the seemingly straightforward distinction between ‘goods’ and ‘services’ serves a surprisingly essential purpose. Although the phrase “goods and services” is typically used as a catch-all term, understanding
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Business, Contract Management, Technology

Three important functions of contract administration

Contract administration is crucial for a successful contract lifecycle. Efficient and effective contract drafting, managing the contract repository, and monitoring compliance help ensure that all parties properly understand and execute the
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Business, Contract Management, Technology

Six digital transformation goals for contract managers in 2025

As business technology evolves, forward-thinking organisations must keep abreast of changes and embrace technological advance accordingly. This also applies to contract managers. Contract management professionals also require to evolve their