Guest blogger Colin Levy on contract management: When thinking about contract management, don’t start by looking at tech. Look at tech last.
Contracts do not manage themselves. Nor do contract processes develop on their own. You need to be prepared to put in place an effective contract management strategy regardless of whether you are tasked with managing a few or a great many.
This starts by understanding the current reality:
Once you have gathered data and understand your current reality, use that as a foundation to build from.
It starts with taking your understanding of the current reality and determining how to get from where you are to where you want to be and asking the question of WHY you want to get from where you are to where you want to be. Technology can help get you from a to b. However, technology is not a panacea and if you are not prepared to put in place a technological solution, putting one in place will not help you, but just the opposite – it will put an even brighter spotlight on your existing pain points and make existing problematic processes worse.