The Evolution of Contract Management: Join Us for an Insightful Webinar on October 18, 2023
The management of contracts has long been a complex and time-consuming activity that organizations across sectors cannot afford to get wrong. While the advent of digital solutions has streamlined some aspects, there’s room for substantial improvement. That’s where our upcoming webinar, “From Draft to Deal: Master the Art of Streamlining Contracts with Contract Corridor,” on October 18, 2023, comes into play. Hosted by our Director Raphael Segal, this event aims to offer valuable insights into modernizing contract management through technology.
Why This Webinar Matters:
One of the core objectives of this webinar is to disseminate proven strategies for every stage of the contract lifecycle. From initiation to finalization and even post-contractual monitoring, there are ways to make each phase more efficient, less prone to error, and adaptable to the ever-changing business environment.
Technology talks are often abstract and conceptual, which is why a live demonstration can be so impactful. You’ll get to see Contract Corridor, a cutting-edge AI-driven platform, in action. This isn’t just about showcasing software; it’s about presenting a paradigm shift in how we approach contracts.
Identifying and Avoiding Common Mistakes
Even in the digital age, there are pitfalls that can delay or derail contract negotiations and executions. The webinar will go beyond mere cautionary tales to offer practical advice and solutions for common challenges in contract management.
Gaining perspective from those who’ve already navigated the complexities of contract management can save you not just time but also substantial operational resources. This is an opportunity to glean practical advice from industry experts.
A Structured Approach to Contract Management
The Contract Corridor platform follows a five-step approach to comprehensive contract management:
- Request and Draft: The process starts with the initiation of a new contract and its drafting. This includes risk assessment to proactively address potential issues.
- Collaborate and Negotiate: Effective contract management is not a solo endeavour. It requires stakeholder involvement and negotiation, aiming for a mutually beneficial agreement.
- Control and Finalize: Version control and change tracking are essential, especially when multiple parties are involved. This phase ensures that the contract’s final version is clean and agreed upon by all parties.
- Store and Organize: Post-finalization, contracts are securely stored in a digital repository where they can be categorized and accessed easily.
- Monitor and Manage: Finally, the platform offers features to proactively manage timelines, events, and obligations, ensuring nothing falls through the cracks.