All posts tagged Contract management
You have all the data that your company’s contracts contain, but what do you do with it? Organize it? Optimize it?
There is a huge amount of data that you can get by using a contract data management system and leveraging Smart contract functionality.
It will allow you to extract valuable information from your contacts and improve the efficiency of your operations.
So let’s learn more about capitalising for Contract data to optimize and orchestrate processes efficiently.
Hai tutti i dati contenuti nei contratti della tua azienda, ma cosa ne fai? Li organizzi? Li ottimizzi?
Un sistema di gestione dei dati contrattuali, sfruttando la funzionalità degli Smart contract, ti consente di ottenere una grande quantità di informazioni preziose. Questo ti permetterà di estrarre dati di valore dai tuoi contratti e migliorare l’efficienza delle tue operazioni.Scopriamo quindi come capitalizzare i dati contrattuali per ottimizzare e orchestrare i processi in modo efficiente.
Many people are aware of the inherent connection between blockchain technology and cryptocurrencies. However, blockchain’s potential goes far beyond digital assets, it serves as a powerful infrastructure for automation, security, and transparency in various industries. One of its most transformative applications is in smart contracts, which are revolutionizing the way agreements are created, executed, and enforced.
Smart contracts are the backbone of the blockchain. The self-executing contracts put into operation any task using a computer code and execute it by a network system without any human input following its initiation by the parties. Since a smart contract is executed and performed autonomously without risk of tampering, there are vast opportunities for implementation in the business sector. Especially when it comes to no code smart contract drafting.
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Organisations have lots of business relationships dictated by contracts and their terms. While contract managers work diligently to keep track of contract terms, provisions, and obligations in a methodical fashion – there are additional solutions for contract management.
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Generally, contracts regulate long-term relationships, governing complex transactions that demand collaboration and flexibility. Issues can arise due to their incompleteness or because parties do not have a comprehensive view of their contracts. The former point addresses the concept of relational contract; the latter to the need of setting the right KPIs. Parties usually measure and monitor each other’s performance (two-way) and automate their reporting using a balanced scorecards, linking contracts to contract balance scorecard.
Reading time: 3 minutes.
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Companies rely primarily on IT professionals to write the scripts needed to keep operations running smoothly.
What happens if there is a shortage of staff?
This issue can leave many organisations with interrupted or malfunctioning processes due to a lack of adequate staff and proprietary knowledge to solve the problem at the source.
The introduction of no-code automation platform resolves these problems, empowering teams of any skill level to manage IT operations seamlessly.
Reading time: 3 min
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A project always starts with a signed contract detailing all expectations and deliverables in order to have the outcomes of the project. But due to the complexity of paper-based contract management, this process can be viewed as a full part of project management.
For companies that interact with multiple parties on a day-to-day basis or those with large projects, mental health and contract management go hand in hand. One wrong contract means delays in shipping, stocking or payment and can really affect risks management, performance maximization and communication management.
Reading time: 6 minutes.
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