10 Questions to Ask When Implementing a Contract Lifecycle Management System

According to the Aberdeen Group, ineffective control of Contract Lifecycle Management cost businesses $100 billion per year in missed savings opportunities. Disputes over who controls the contracting process, the reluctance of legal teams to move to new technology, and the different data requirements of stakeholders have made it difficult for procurement teams to effectively manage contract compliance and vendor negotiations.

Implementing a Contract Lifecycle Management tool into an organization for the first time can be a daunting prospect. Most organizations that are considering Contract Lifecycle Management share common traits and beliefs.

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