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Contract management continues to be a highly manual process, splintered among legal, procurement, finance, and sales teams. This fragmentation makes it difficult, and sometimes impossible, to track contractual terms and commitments, ensure compliance, maximize revenue opportunities, and mitigate risk. These issues are magnified in large enterprises with global operations, which must adhere to a complex variety of regionally specific laws and regulations. Fortunately, new enterprise-wide contract management platforms are available. By unifying buy-side, sell-side, and corporate contracts, these cloud-based platforms dramatically improve contract visibility, velocity and consistency— reducing contractual risks and boosting business performance. |
