Benefits of Automated Post-Award Contract Management

14th November 2017

by Stuti Mehrotra


Post Award Contract Management Thanks for being part of our blog series on post-award contract management!

While another blog in this blog series established the core challenges of Post Award Contract Management, this one focuses on the challenges to effective post-award contract management. Today’s blog post will discuss how automation helps address all those challenges successfully.

 

 

Benefits of automated post-award contract management include:

 

  • 1. Effective obligation management:

    When contract lifecycle management is integrated with external databases and systems such as CRM, ERP, and CPQ tools, you enable milestone tracking to facilitate tracking and enforcement of entitlements, penalty clauses, and more.

 

  • 2. Regulatory compliance management:

    Clause-level identification and tracking of all environmental, Health & Safety, as well as other compliance-related requirements become extremely streamlined with a post-award contract management solution. Also verifying that required attached documents are both present and valid is simplified to a great extent.

 

  • 3. Opportunity identification:

    Post-award contract compliance dramatically improves the identification of cross-sell, up-sell, and savings opportunities.

 

  • 4. Performance measurement:

    Post-award contract management automation establishes parameters of measurement by linking contracts and Key Performance Indicators to evaluate contract performance.

 

  • 5. Efficient expiry and renewal management:

    Configurable alerts and reminders ensure efficient management of contract expiries and renewals.

 

These benefits of post-award contract management are realizable today, provided the correct CLM is in place.

 

Also read: Does Post-Award Contract Management Really Matter?

 

Learn about Ultria’s Post Award Contract Risk Management Solution.

 

For more information on contract management or Ultria, please reach out to us at info@ultria.com.


author

Author

Stuti Mehrotra
Your information will be used to send you this and other relevant offers by email. We will never sell your information to any third parties. You can, of course, unsubscribe at any time. View our full GDPR Policy.



Your information will be used to send you this and other relevant offers by email. We will never sell your information to any third parties. You can, of course, unsubscribe at any time. View our full GDPR Policy.