DocuCollab - The Contemporary Software Solution for Proposal & Contract Management Software

Contract management process has evolved through the years and today, the contract metrics are used for making business decisions. Organization's rely on the insights rendered by agile contract life cycle management software in making such decisions. The reporting feature in the software facilitates a better understanding of the contracts' performance throughout its validity period. Read to find how the reporting feature enhances the contract management process . Contract Portfolio Management One of the best practices in managing contracts is being abreast of the developments. Oftentimes, contracts are viewed/reviewed only during the initiation stage or renewal stage. The managers forget the existence of contracts until being alerted on its renewal. Today's business climate makes it imperative to analyze contracts on a regular basis, thereby understanding the performance throughout its life cycle. The reporting feature in the enterprise contract management software enables...

Subcontracting is the process of outsourcing a part of the activities/tasks mentioned in the contract to external entities. For example, a construction company can outsource the interior designing activities to an external agency, thereby ensuring the completion of the task in the prescribed time. In industries that have complex activities under their job scope, subcontracting is a norm. However, subcontracting can be a risky affair, which could potentially harm your business image. We have compiled a few industry-best tips in dealing with subcontracts, which helps you with your contract process. Industry Knowledge Although subcontracting is a common practice across different industry sectors, it is essential to gain knowledge of the sector to meet the specific requirements. The subcontracting terms for the construction sector are Different from the subcontracting terms for the financial sector. If your company subcontracts different jobs belonging to different industry verticals, it i...