Contracts are at the heart of every business - they govern relationships with customers, suppliers, partners, and more. Even with a powerful CLM managing contracts can be a complex and time-consuming process, which is why many companies are now creating and developing a contract ops role. This can lead to a distinct competitive advantage.
- Better risk management: Contracts are a critical tool for managing risk, but only if they are managed effectively. Agiloft can provide a powerful tool that helps ensure automation, data governance, and much more. A contract ops role like an Agiloft admin can help ensure that contracts are properly reviewed, negotiated, and monitored, reducing the risk of compliance issues, disputes, and other legal problems.
- Increased contract value: Finally, a contract ops role can help increase contract value by identifying opportunities for cost savings, revenue generation, and other value-add activities. Having a dedicated contract role can help organizations proactively manage contracts throughout their lifecycle. Contract ops professionals can help ensure that contracts are delivering maximum value to the business.
- Improved contract management efficiency: A dedicated contract ops role can help improve contract management efficiency by streamlining processes, reducing manual tasks, and automating workflows. This can help reduce contract cycle times, improve accuracy, and free up time for other important tasks.
The real power of your contract management goes beyond the tool you use to organize, create, and optimize contracts – it’s the people who touch contracts and handle contract lifecycle management day in and day out. Creating and developing a contract ops role can be a significant investment, but these roles can help companies can gain a significant competitive advantage in today's fast-paced business environment. Creating a dedicated contract ops role can help you take your contract management to the next level, maximize your CLM investment, as well as quickly respond to changes in the market.
For more information on creating contract ops roles – and how you can empower that role to be successful in – check out Agiloft University. You can also ask questions from other contract pros in our community.