Contract Management is the analysis, negotiation, execution and ongoing, effective management of a company’s contracts for the purpose of maximizing financial and operational performance.

Contracts are the lifeblood of all business relationships. Contracts dictate the terms, conditions, obligations and critical junctures when conducting business operations. Surprisingly, with all of the power that a contract wields, a great number of organizations lack effective contract management. According to an Aberdeen Group survey of industry executives, “on average, companies track only 68% of their customer contracts, meaning that almost a third are forgotten, not being serviced, or improperly managed.” In addition, the research revealed that, “approximately 85% of companies are using either manual processes to manage sales contracts or systems that are partially automated or disparate. Due to inconsistent storage systems within companies, key stakeholders maybe unaware of negotiated terms, resulting in non-compliance and possibly leading to costly disputes and strained customer relationships.”^[1] The consequences of ineffective contract management include diminished revenue, significant risk exposure and contractual non-compliance. Ineffective contract management can prove costly for your business in today’s economic environment.

Now more than ever, businesses must do more with less. We are routinely required to overperform and increase company profitability in spite of being understaffed. Upscale Contract Management recognizes the key role that effective contract management plays in increasing your company’s profitability and sustaining its competitive advantage. Upscale Contract Management can effectively enable your business to derive optimal value from its contracts. Value is achieved through risk identification and mitigation, contract negotiation and effective management of your contracts. Utilize Upscale Contract Management as your “fiscally-friendly” resource for a sustainable competitive advantage!