5 Tips for Effective Contract Management in 2025
In a business, contracts form the backbone of every partnership, transaction, and obligation. Whether you’re managing vendor agreements, employee contracts, or strategic business deals, contract management is essential to safeguarding your interests and reducing risks. However, ineffective contract oversight can lead to costly errors, compliance issues, and even revenue loss. Common Challenges in Contract Management Before mastering best practices, it’s important to understand what often goes wrong. Below are five recurring challenges businesses face with contract management: Lack of Visibility: A staggering 90% of organizations struggle to locate contracts when needed, according to recent data from Juro. Poor visibility leads to delays, missed...
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