Tag Archives: Contract Management

Multi-Location Business Challenges

Multi-Location businesses have many challenges and may need to transform how they operate.

Success and expansion are great, but if you do not have proper systems in place to manage disparate data, multiple stakeholders, and centralized information you will eventually stumble.

Failure to prepare your business’s systems and communication strategies for geographic expansion can compromise efficiency and performance.

The vast majority of agreements and contracts for multi-location businesses are not internally generated. They do no reside within your systems, are difficult to review and share, and often are not read or disseminated to all stakeholders who need to understand specific terms.

If your is not sure if it needs to implement a system, here are some key concerns it will solve that you should consider: Read more Multi-Location Business Challenges dealsafe read more

Who Knows All the Key Terms in Your Agreements?

I do not like reading contracts and agreements (ok, I do, but most people do not). They are prepared by lawyers and often include arcane language and terms that put me to sleep. But I need to know the important business points that are included, often months or years after the contract was signed.

Perhaps my counsel explained each point to me at the time it was signed or the original template was setup. Has it changed over time, do I remember which deal has old terms vs new terms?

Read more Who Knows All the Key Terms in Your Agreements? dealsafe read more

Are you ready for the New Lease Accounting Standard?

The Financial Accounting Standards Board (FASB) approved the new lease accounting standard in February 2016 and reporting requirements will come into effect in 2018 and 2019 depending on your type of organization with retrospective application to previously issued annual and interim reports for 2017 and 2018 depending on Company type.

Who this affects:

Read more Are you ready for the New Lease Accounting Standard? dealsafe read more

Audit Preparation

Annual Audit / Review

The end of the year is fast approaching and you and your team are implementing the processes and procedures for closing your accounting books and setting up a time with your outside auditors for a review or audit. Your team dreads the “request” list that will arrive – lists of contracts, leases, employment agreements, important terms and conditions, etc. that are often distributed across multiple offices, storage rooms, and computers. Having to read through all of the documents again to find specific terms and conditions that are important for the audit. Photocopying, scanning, emailing, sending via courier to the audit team, often multiple times.

What if there was a better way…

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