> ... > Intelligence hub Contract management Benefits

Contract management benefits

Discover the benefits of contract management

Benefits of contract management

Contract management is the process of managing contracts between you and the third party, for example you and the supplier. As supply chains become increasingly complex, contract management ensures that all contractual obligations are fulfilled, in line with the agreement. A successful contract management process is one that focusses on both pre-award and post-award activities. It ensures compliance at each stage of the contract, making sure deadlines are met, which will help you to manage any associated risks between you and the supplier. The larger and more complex your project is, contract management is a vital process. 

Here are a few benefits of contract management:

 

The digital benefit of contract management software

Digital contract management can be an effective way to manage your contracts. As many organisations are striving to go paperless, contract management software offers a secure, efficient, and more collaborative way of managing contracts. 

Here are some of the benefits of contract management software and what it offers to your organisation:

 

CIPS Contract Management Cycle

Our Contract Management Cycle is used to create a smooth end-to-end process, ensuring optimum scoping, planning, managing, and reviewing are taken place at the right time. Find out more about the Contract Management Cycle

Contract management key themes

Contract management Strategy Breach of contract End of contract
Contract performance KPIs Soft Skills

Listen on demand and get the latest practical insights from our panel of procurement and supply experts.

CIPS Podcast

Contract management CIPS Webinars - Watch the full contract management playlist here

Become a CIPS member

Achieve your potential by becoming a member today. Whether you want to become a studying member or want to upgrade your membership to MCIPS, you’ll receive support and guidance whatever career level you’re at.

Access the latest research, whitepapers and tools across a range of key procurement and supply topics.

Contract management guide: Part 1

Effective and successful contracts require careful, comprehensive and thorough work before the deal is even awarded. This guide will give you a greater understanding of the importance of the pre-award phase of contract management and give hints and tips you can use for any deal.

Contract management guide: Part 2

The most effective and successful contracts depend on both thoughtful and thorough work before the deal is done and careful management throughout the lifetime of the arrangement. This guide will give you a greater understanding of the importance of contract management, focusing particularly on the work you need to do post-award.

Dispute resolution

Dispute resolution can be time-consuming and costly. This guide will give you a greater understanding of the four different approaches to dispute resolution, as well as alternative methods for consideration when loooking to select the right approach for your dispute.

Managing Supplier Non-Performance

This paper will help you to understand the different remedies available to you as a procurement and supply professional in the event of supplier non-performance. It examines the different mechanisms and approaches to non-performance that you can use before resorting to contract or relationship termination.

Expand your contract management skills

Icon of an open file folder on a blue circular background with abstract blue and green ring patterns, representing document or contract management

Procurement Skills Training

Accelerate your learning and keep your knowledge and expertise up to date with our contract management training courses.

CONTRACT MANAGEMENT TRAINING

On this page