Zycus recognized as a ‘Strong Performer’ in The Forrester Wave™: Contract Lifecycle Management, Q2 2023  Read More

5 Challenges to Post-Award Contract Management

Today’s post will address the core challenges often faced with post-award contract lifecycle management.

Enterprises deal with thousands of contracts spanning various functions like legal, sales, HR, procurement, and so on. Manually managing this many contracts and tracking post-award contract compliance becomes very problematic.

(In another blog post explaining the benefits of post-award contract management, we explain the term and establish the significance of post-award contract management processes.)

The most common challenges to effective post-award contract management:

Tracking global contracts:

  • Organizations doing business globally have a range of stakeholders with varying expectations and needs. This results in different currency formats, varying terms, conditions, and specific escalation/ de-escalation clauses.

Gaining visibility into contracts:

  • Contracts are stored in multiple disparate systems across the organization. This leads to a lack of visibility further gives rise to a host of issues. These may include – financial losses due to non-compliance, missed opportunities for revenue capture, and limiting the ability to minimize lost savings.

Measuring contract performance:

  • Organizations must develop mechanisms to manage and measure performance throughout a contract’s lifecycle. They need to define quantifiable targets (revenue growth, overall corporate risk, value for money, etc.) and have the means to track underperformance to install corrective measures.

Stakeholder Alignment:

  • Amending contract terms and conditions is difficult without a common interface for collaboration among stakeholders.

Managing Renewals and Expiries:

  • A common collaboration platform enables a thorough review of auto-renewable contracts. Otherwise, these might renew without any re-evaluation or renegotiation based on contract performance.

The next and final blog post in this series will focus on the ways in which these post-award contract management challenges can be successfully addressed.

Also read: Does Post-Award Contract Management Really Matter?

Learn about Zycus’s Post Award Contract Risk Management Solution.

For more information on contract management, contact us at info@zycusicontract.com.


Willam Dyer is the Regional Vice President at Zycus, a leader in the Forrester Wave for Contract Lifecycle Management. William has spent more than a decade advocating CLM solutions for enterprises across geographies, making him a domain expert. He has successfully delivered ROI to numerous clients comprising legal leaders for Fortune 500 companies spanning different industries. In this stint in Zycus, his mandate is providing value and making a business case for global enterprises in the scope of a sales leader. His attention to detail and product expertise makes him the go-to person to strategize go-to-market plans.
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