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5. Transparency, the way you like it
When your contract data is centralized in a permission based system you control who sees what, who can edit what, and who needs to be alerted. We are not talking about telling everyone everything, but rather making sure that those who need to know, know.
4. Insight without Impact
The ability to upload data from any other existing and siloed system into a central location allows task managers to analyze without impacting the systems of record. And believe us when we say your accountants will do a rare happy dance when they hear this news.
3. Version Control
Enough said, but we will add a few more thoughts. Knowing, we mean really knowing, that you are working from the correct version of estimates, funding, or other contract related data is critical for contract management success.
2. Save Time
Having one location for all your contract data reduces the number of clicks, searches, and inquires you have to execute which not only saves you time but also gets you to our number one reason….
1. Save Money
Centralizing your contract data increases efficiencies and the more efficiently you are able to execute your task management the more you shine as a money-saving contract manager.
A recent Robert Wood Johnson Foundation report found a third of Americans get less sleep than the recommended seven hours a night. Another survey by Accountemps, an accounting services firm, put that number at nearly 75 percent in March. Bill Driscoll, Accountemps’ regional president in the greater Boston area, says some sleepy accountants even admitted it caused them to make costly mistakes.”One person deleted a project that took 1,000 hours to put together,” Driscoll says. “Another person missed a decimal point on an estimated payment and the client overpaid by $1 million.
Did those statistics jolt you awake?
Unfortunately, we cannot be there to tuck your folks into bed and make sure they get their full 8 hours of sleep. We can let you know that automation of processes can reduce potential errors and make it easy to uncover them when they do happen.
Using a Contract Management tool will allow you to create workflows, set funding alerts, maintain version control, and stay ahead of risk and variance analysis.
Go ahead, finish watching that late night movie, read another chapter in your book, say yes to just one more round; your contract management system has your back.