Contract management Archives - Page 3 of 6

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.

Trakti hold-up problem in contracts Photo by Kai Pilger on Unsplash

Can automation solve the hold-up problem in contracts?

on July 20, 2021

A hold-up problem in contracts is the situation where after one party has made some relationship-specific investment, the counterparty refuses to fulfil the original terms of the contract asking for better conditions.

Reading time: 4 minutes. Photo by Kai Pilger on Unsplash.

Trakti blockchain property rights Photo by Thought Catalog on Unsplash

Decentralization over blockchain infrastructures: the property-contract interface

on July 13, 2021

Decentralization over blockchain infrastructures is a fundamental aspect in the adoption of the technology and is the main reason why it has acquired increasing importance in the last decade. The technology emerged to implement peer to peer transactions of digital money that could displace commercial banks’ gatekeeping of digital transactions of bank deposits and central banks’ monopoly over the value (and therefore supply) of fiat money. And it has gone a long way since then.

Reading time: 10 minutes. Photo by Thought Catalog on Unsplash.

Trakti multicriteria vendors offers Photo by Franki Chamaki on Unsplash

Setting up a bespoke multicriteria vendors evaluation form and procedure

on July 13, 2021

You can use a multicriteria vendors evaluation form to determine the best vendor or supplier based not only on price but also on a full spectrum of concerns. Vendor assessment should support your company’s mission. It should support ethics, and business goals in the areas of technical competence and quality, cost and financial integrity, ability to communicate, social responsibility, and cultural commitments.

Reading time: 4 minutes. Photo by Franki Chamaki on Unsplash.

Understanding flexibility in smart contracts vs traditional contracts

on July 8, 2021

Before digging into the lack of flexibility in smart contracts let’s see what flexibility actually is.

Traditional semantic contracts are flexible. Such flexibility operates during the negotiation phase as well as at breach.

Flexibility allows parties to use ambiguous terms, generally defined terms, commercial customs in their agreements.

Furthermore, flexibility enables parties to shape and adapt their business relationship through modifications, amendments, sometimes arbitrarily.

Reading time: 3 minutes. Photo by Ken Suarez on Unsplash.

Contract management