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

Benefits of Automated Post-Award Contract Management

Thanks for being part of our blog series on post-award contract management!

While another blog in this blog series established the core challenges of Post Award Contract Management, this one focuses on the challenges to effective post-award contract management. Today’s blog post will discuss how automation helps address all those challenges successfully.

Benefits of automated post-award contract management include:

  • 1. Effective obligation management:

    When contract lifecycle management is integrated with external databases and systems such as CRM, ERP, and CPQ tools, you enable milestone tracking to facilitate tracking and enforcement of entitlements, penalty clauses, and more.

  • 2. Regulatory compliance management:

    Clause-level identification and tracking of all environmental, Health & Safety, as well as other compliance-related requirements,  become extremely streamlined with a post-award contract management solution. Also verifying that the required attached documents are both present and valid is simplified to a great extent.

  • 3. Opportunity identification:

    Post-award contract compliance dramatically improves the identification of cross-selling, up-sell, and savings opportunities.

  • 4. Performance measurement:

    Post-award contract management automation establishes parameters of measurement by linking contracts and Key Performance Indicators to evaluate contract performance.

  • 5. Efficient expiry and renewal management:

    Configurable alerts and reminders ensure efficient management of contract expiries and renewals.

These benefits of post-award contract management are realizable today, provided the correct CLM is in place.

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 or Zycus, please reach out to us at info@zycusicontract.com.

Author

Anthony Scannell is the Director of Sales at Zycus, a leading provider of cognitive contract software solutions. With over a decade of experience in the field, he has become a subject matter expert for Contract Lifecycle Management (CLM), helping organizations streamline their contract processes, increase compliance, and reduce risk. Anthony’s expertise in CLM has helped numerous clients achieve their contracting goals and drive bottom-line results. He is known for his deep understanding of the complexities of the agreement process and his ability to present solutions that meet the unique needs of each client. Anthony’s dedication to customer success and his passion for CLM make him an invaluable asset to the Zycus team.
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