Simple Contract Management Strategies

July 31, 2014

Every business enters into a variety of contracts with vendors and customers. After the contract is signed though, some businesses simply file them away and never look at them again unless a problem arises or the time comes for renewal of the contract. Those contracts, however, contain important information for management of the business, assessment of risk exposure and profitability. Proper contract management can generate goodwill with customers and vendors, close transactions more quickly and provide management with valuable information.

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