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Why is contract management a global company task in modern and successful companies?

After the economic and financial crisis, conclusions about values and morals are being recast. The "honourable businessman" is (unfortunately) a thing of the past. Compliance is no longer a foreign word or a trivial offence.

"Sustainability has the right of way" or "How trust arises from understanding" - these or similar slogans are platitudes in today's world that revive more than ever claims from days long gone.

Thus, the contract as the foundation for business management in an organisation or company is not an "old" relic. Rather, according to textbook thinking, almost every business decision is based on a contractual agreement or leads to such an agreement. Thus, experts agree, a contract goes through a life cycle within a systematic process, modernly also called life cycle management, in which contracts with legal effect are designed, created, put into effect, managed, monitored, evaluated, terminated and archived.

Contract management in transition grows with the understanding of the topic of compliance - secure action in the company interprets itself in

  • Yesterday, contracts were managed - mostly in folders and cabinets.
  • Today we manage contracts - file, search and retrieve contracts electronically.
  • Tomorrow we will understand contracts qualitatively within compliance, secure them and use them successfully.

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