Have a central repository of information

Have a central repository
of information

It is crucial to gain control over the central elements of the process, and make them accessible to everyone who needs them-and only to those people.

These elements include the contracts themselves, and the information surrounding the contracts. This includes an audit trail of correspondence leading to creation and renegotiation, plus other contract related information such as time and materials, evaluations, file notes and key contacts.

The repository should be able to handle any type of contract hierarchy involving complex and interdependent contract structures, with secured access at the contract level.

According to a IACCM survey of the about 100 Global 2000 companies, 81% of companies report that just locating a contract is problematic.