Having Commitment Issues?

by Matt Patel |
Share:

We know many relationships have commitment issues. Yeah, there is the honeymoon period where both sides see a bright future and everything is perfect. As time passes, the commitments are not honored, and the road gets bumpy in the relationship. No, I am not talking about personal relationships. I am talking about your organizational contract relationships with your vendors, partners, customers and distributors. No need to hide from this fact. It’s the ugly truth, and you are not alone in this situation.

Organizations that rely on manual contracting processes and have no effective solution in place, are at high risk of having contractual commitments lapse and increase their risk of failure to comply with contractual terms, resulting in loss of revenues. Signing a contract with your vendor or customer is not the end of the contracting process. It’s just the beginning. There are numerous obligations, milestones and commitments embedded in most commercial contracts. How do you track those manually, when you have hundreds or thousands of such agreements to manage in your organization? It cannot be on a whiteboard or Outlook calendars. That just doesn’t scale and is not effective.

If you have a document repository or a basic content management tool, that is not sufficient. You need a comprehensive contract lifecycle management solution, such as Malbek ContraxTM, that helps you manage your active agreements and lets you sleep better at night knowing that your commitments are well under control. It actively tracks your contractual commitments to measure the effectiveness of the contract terms against actual transactions and alerts you proactively to take appropriate action.

Do you want to avoid having relationship issues? Contact us for a lunch date with Malbek and see how we can help you maintain the honeymoon period with your contracted parties.

You Might Also Like

Legal Tech Revolution: Insightful Trends at CLOC Global Institute

  On the heels of CLOC, we are still reverberating with excitement from all that we learned and ...

Read More
The Link Between NDAs and Your Company's Growth

  Have you noticed an increase in Non-Disclosure Agreements (NDAs) volume at your company? These ...

Read More
7 Critical Tips to Make the Most of CLOC Global Institute in Las Vegas

The highly anticipated CLOC Global Institute is just around the corner, and legal operations ...

Read More
7 Tips for Reviewing Contracts

Contracts are often referred to as the lifeblood of an organization, as they are the backbone that ...

Read More

Posts by

Post a Comment

Blog Authors

Alice Alfano is a Marketing Coordinator at ...

Allison Martyn is a Business Analyst who ...

Anna Lozynski is an award winning executive ...

Anne Moore has been helping customers automate ...

Anneliese Strout is a Principal Business Analyst ...

Becky Holloway began her marketing career in the ...

Betel Zewde was born and raised in Ethiopia and ...

Colin is a sought-after legal tech writer and ...

Dan Sloan has been helping companies successfully ...

Gary Zuder has been a trusted sales consultant to ...

Hemanth Puttaswamy is a technology entrepreneur. ...

Jaime has always been passionate about helping ...

As a skilled leader, Kari Geske is tickled to ...

Kevin Brening has been a SaaS enthusiast for the ...

Lindsay is eager to provide authentic connection ...

Madhu is a technology visionary and an expert in ...

With nearly two decades of CLM and legal tech ...

Taeler Gannuscia, Product Marketing Manager at ...