Contract management software features scorecards to support the evaluation and tracking of contract and supplier performance.
Contract management software can generate contract portfolio views and aggregate level reports, enabling companies to answer questions such as: Which contracts did Dave Smith work on? What are all the contracts due for renewal next month? What contracts do we have with Company X? How has contract Y performed? What contracts are affected by this new regulation or jurisprudence? What contracts do we need to change if we change our registered company name or legal structure?
Being able to answer such questions allows high-level assessment of risks, enables a company to respond to changing events, and empowers effective and proactive renegotiation.