Contract management Archives - Page 3 of 6

5 Steps to Sign and activate a Smart Legal Contract

on October 8, 2021

Contracts are fundamental for all transactions in the business world. But the recent market turmoil has highlighted the importance of digitalization of processes and adequate risk management.

In “conventional”, physical legal contracts, parties usually sign them with a handwritten/electronic/digital signature, depending on the form of the contract.

But as far as legal smart contracts go, how do parties sign and validate them? How can part B show its consent in adhering to part A’s smart contract? Are private and public keys used here?

5 KPIs to measure for a successful CLM

on September 10, 2021

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

Trakti handle MBOs through smart contracts Photo by Jessica Lewis on Unsplash

How to handle MBOs through smart contracts

on September 10, 2021

Management By Objectives – MBO programs can be easily automated and adjusted through smart contracts to provide a greater range of options to both the HR admin and the employees they are created for.

Reading time: 4 minutes. Photo by Jessica Lewis on Unsplash.

How to write a business proposal for a successful deal

on September 3, 2021

Sooner or later you’re going to write a business proposal, either because someone asked for it, or because you want to make a persuasive case that leads to a sale. Where do you start? How to write a business proposal? What are the rules? Since one of the goals of a business proposal is to persuade a potential customer to do business with you, it is important that you answer all questions.

Not only are you trying to present your business to potential customers and talk it up, but you are also trying to make a lasting impression on your prospect. So you want to ensure the proposal does its job- acting as a formal and efficient selling tool.

Photo by Christin Hume on Unsplash

The Ins and Outs of Contract lifecycle management

on August 16, 2021

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.

Trakti smart contracts for contract management Photo by krakenimages on Unsplash

Smart Contract Solutions for Efficient Contract Management

on August 3, 2021

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.

Trakti automating control with blockchain Photo by Maximalfocus on Unsplash

Automating controls and compliance with blockchain

on July 28, 2021

Automating controls and compliance with blockchain is the next step in the digital transformation of companies of all sizes and types. Blockchain technology can create greater efficiency than we’ve ever known, while reducing delays, costs and errors.

Reading time: 3 minutes. Photo by Maximalfocus on Unsplash.

Contract management