Hiring a Contracts Manager? We Can Help!

contracts manager

Have you scaled your business to such a stage where you are in contracts overload? Your General Counsel doesn’t have the time to keep track of everything? You know you have commitments and obligations in your contracts, but no one is ever going to remember everything? Have you been losing contracts?

It’s at this time, most companies look at hiring a contracts manager. This person’s responsibilities are typically as follows:

  • Responsible for the implementation and maintenance of agreements
  • Provide sales reporting to support business unit contracts
  • Provide other reporting to support business units to ensure contracts are fulfilled
  • Participate in pricing and cost strategies based on other current sales and vendor contracts
  • Coordinate with program managers, GMs, operation leads, etc to ensure contract requirements are fulfilled
  • Track contracts spend rate and advise the Contracts Management staff on the funding status in advance
  • Prepare and maintain audit ready contractual and subcontract files
  • Invoice Tracking
  • Payment Tracking
  • Contractor Performance Management

This is a great position, and usually a very important person/team in most organizations. However, without the necessary infrastructure in place, this person can’t scale. This person might be solely focused on creating a spreadsheet of contract info, and being super organized so you never lose a contract. But there are a few problems:

  1. This person can only scale to a point, then you need to hire another person – possibly with a different process, etc. The larger this team grows using a manual process, the more inconsistency you get, and additional problems start to enter your contracts management process.
  2. But what most people don’t understand, is 50% of your problem is that this person will never actually get all the contracts in the first place.

What most people don’t understand, is 50% of your problem is this person will never actually get ALL the contracts in the first place.

How do you solve this? You need a Complete Contract and Partner Automation Platform in place. The DealSafe platform will accomplish 100% of the role described above, and then you can hire people to assist the platform in the human interaction part.

When DealSafe is implemented, it is not just implemented with the legal department, but instead users are given access across the organization, from operations, general managers, business development, sales, finance and more. Because DealSafe is valuable for the management of their partners, you are ensured they add all their contracts to this platform. They use DealSafe to maintain these partners and ensure obligations are fulfilled. Legal can then use DealSafe for overall audit, risk and compliance tracking – knowing they have ALL their contracts.

So, as you start growing and hit overload stage, question if the right solution is to keep hiring more and more people, or if you need to add a scalable contracts automation platform to the mix in order to hit Best in Class.

Interested? Learn more here!

 

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