Contract Lifecycle Management Challenges and the Practical Solutions
Managing contracts is an on-going process that requires intensive monitoring and control. The contract management challenges faced by contract managers today greatly differ from the issues of the past. There are a plethora of contract lifecycle management challenges, which requires the agility and decision-making prowess of the contract moderators. A previously cordial client might turn rogue during the lifecycle, where the stakeholders must decide the course of action. From managing minor disputes to accommodating unprecedented occurrences, it is imperative to create standard protocols to combat every challenge. Robust contract management ensures that the contractual relationships are sustained while maintaining the ROI. […]
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