Contract management

All posts tagged Contract management

How to embed ESG Strategy & Climate clauses in your contracts and why they are a must-have

on December 2, 2021

Even though COP26‘s outcome was not perfect, it is clear that we all have a responsibility towards our planet. And now is the time to act.

Individual citizens aside, the first ones that are able to make an impact in this area are companies, especially the ones that depend on a global supply chain network (for example) or a large ecosystem of suppliers and partners.

A clear and effective strategy for ESG has become a “must-have” for businesses.

Let’s have a look at the benefits of implementing sustainable business, climate clauses and obtaining green credentials…

Photo by Markus Spiske from Pexels.

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How to create a contract template in 5 steps in Trakti

on November 17, 2021

Today legal departments use tons of Word files and emails as work instruments, so files like contract templates can be distributed and used in a quick and easy way. This method, as effective as it may be, produces overheads that cost the company a great deal in terms of money and time.

The problem lies in the instruments that are used: they’re simply not fit for purpose! If you continue to draft and distribute your contract template this way the cost of compliance will soon become a big problem.

So let’s have a look at how we can solve this problem!

Reading time: 4 minutes.

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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?

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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

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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.

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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

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