you have admitted that poor contract management is a key business risk and decided to solve the problem have to overcome what may be the biggest obstacle: “Business as usual or mere inertia

Obviously, if you are paper documents, spreadsheets, or a combination of both, look for a technological solution. At this stage, another dangerous threat: a poorly defined process threatens to delay what to replace a “slip of the project” and a number of risks for another.

Bottom line: If you have identified the problem that you are moving quickly to a solution. Here are eight steps to make it happen.

1. Define the project and assign the responsibility for a solution to contract management. Whether you are a person or a team depends on the size of your company (and the scale of the problem).

2. Make sure that the mandate and timetable are clear. Be clear on this – is the product that suits your requirements to find most suitable for the contract management. Be sure when. A time limit, be it a month, three months, six months or a year.

3. Gather initial information about products. This will give you a general understanding of the characteristics and capabilities.

Now is the time collect data on the cost base, including the cost of the supplier for the installation, implementation, adaptation and / or maintenance. Exploring a solution that fits your budget is not a waste of precious time, regardless of the technology can be wonderful.

4. Create your wish list. Make a list of functions that you have your system.

Classify characteristics as “critical”, “important” and “wishes”.

Keep the list relatively short: 1-3 core competencies; 6-7 importantly, as 4-5. This will focus on basic needs and prevent the search to extend to infinity. Do not forget the user experience is essential.

5. Demonstrations of several contract management solutions. This allows you to evaluate the strengths and weaknesses of a product – and have a good idea of its user interface.

Do you have an IT staff on hand at least part of each demonstration. This will ensure that you do not support on a path to a solution to your building can not speed.

6. Prices of individual products. Create a table with your wish list on the page and products in the tip. You can express your opinion by attributing to each factor to weigh your critical and important criteria. (Critical x 4, x 2 large, 1 x wants -. Or a multiple of your choice)

Add to produce a column for each product an overall ranking. Then apply common sense to control. Software to place 2 or 3 may actually be the best choice if the high scores of leader ratings results wildly uneven (or rating high and low in all the wrong places).

7. Do a practical evaluation of one or two products. If possible, a practice of product evaluation in your environment.

Make sure that voters understand the importance of the task – and can take time for it. Add the person (s) that will be most affected by the construction and the system after implementation.

Take advantage of offers any help from the publisher through the process. And a fixed date for completion.

8. If your assessment, procurement of goods which is best demonstrated complete your needs and the implementation of your solution.


Contract Management Software