The adequate management of contracts is essential for the smooth running of any company. But contracts are too important to be processed and stored manually. This is why lots of companies are now going digital. In recent years, Contract lifecycle management software has transformed how businesses manage their contracts. Now, we’re looking towards the next step in contract digitalization. Today, we look into how to set up Contract lifecycle management (CLM) with the help of Smart contracts.
Reading time: 4 minutes.
I casi d’uso della blockchain nel fintech stanno rivoluzionando il settore finanziario. I vantaggi della blockchain sono chiari in quanto rimuovono la barriera della velocità, dei costi; la gestione del database avviene in tempo reale, così come il monitoraggio finanziario, la gestione delle risorse e molto altro. Trakti è in grado di offrire diversi servizi, anche nel settore finanza.
Reading time: 3 minutes.
If you are following blockchain & bitcoin news closely, you must have noticed something about many billion-dollar companies, as well as Fortune 500 enterprises. They have officially jumped onto the blockchain bandwagon and are working around the technology.
There is a simple reason for this.
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When two years ago Thomson Reuters Regulatory Intelligence asked financial-services firms which was the greatest compliance challenge they expected to face in 2020, most of them answered “keeping up with regulatory change”.
Compliance became a thing soon after the 2008 financial crisis, and regulations have been changed many times since then. Thus, companies have been struggling to allocate the budget appropriately to face the increasing cost of compliance.
What is the next step?
Reading time: 4 minutes.
Companies with intensive CLM activity regularly oversee agreements between their organization and other parties. As such, they need to measure results on an ongoing basis. For this reason, they depend on contract management KPIs to align goals, develop the right metrics, and watch the CLM closely. However, these indicators need to be smart and consistent to keep in check those that are relevant to your operations.
To improve your company’s profitability and performance, there are 5 KPIs to measure for a successful CLM
Contracts are the lifeline of modern business. Without them, there wouldn’t be company partnerships, employment opportunities, or the exchange of goods and services. We already know that contracts play such a critical role in business but Contract lifecycle management (CLM) is the glue that holds the whole process in place.
It is thanks to CLM platforms and systems that you are able to optimize the process without losing sight of what’s important for your company’s growth.
In this article we will examine the ins and outs of Contract lifecycle management.
Contracts are an important aspect of any business. But without a plan in place, the contract management process can become overwhelming and full of risky manual errors.
There is the need to have a plan in mind to set up a smart contract management process to drive efficiency in organisations.
Reading time: 4 minutes. Photo by krakenimages on Unsplash.