Dolphin Software – Contract Lifecycle Management

An estimated 80% of business-to-business transactions are underpinned by legally binding contracts and agreements.

Though many of these contracts contain clauses, terms, conditions, commitments and milestones that need to be tracked and managed over the contract’s life to maximize business benefits and minimize associated costs or risks, most organizations never actively manage their contracts during the agreement period.

Contracts are archived away in departmental filing cabinets never to be reviewed again until a problem arises or the contract has already expired.

Contract Management software enables an organization to be proactive in the management of its contracts. An organization employing contract management software has a deeper and more contextualized understanding of the risks, obligations and benefits associated with each contract.

“With the sheer volume of contracts that most organisations have to deal with, and their growing complexity, contract management software is the logical way forward. Automating control of contracts means that they become more visible, accessible and easier to monitor. Our research shows that this improves performance in cycle times, financial returns and the quality of relationship management. Dolphin Contract Manager is a welcome addition to the contract management industry, offering an attractive and highly practical way forward for many organisations.”

Tim Cummins, President, International Association for Contract & Commercial Management (IACCM)

Reduce time, cost and risk
Contract management software can reduce the time, cost and risk of error. It creates a central repository, giving organisations complete visibility and control over all contracts, making it clear who is responsible for what and when.

Key business drivers
Organizations are increasingly looking to contract management as a way to keep bottom line costs down and increase net revenues from business-to-business transactions.

At the same time, they are recognizing the value of Contract Management as they attempt to become compliant to corporate governance legislation and minimize exposure to risk.

Business efficiency
A recent survey by the IACCM showed that the strongest business driver to implementing a Contract Lifecycle Management solution was to implement best practice procedures and Standard Operating Procedures around the contract lifecycle process.

At Dolphin Software, we believe that Contract Management should be an enterprise wide discipline, with both contract specialists (like legal and procurement professionals) and non-specialists (like finance and business managers) being able to have instant access to the tools and management information to allow the enterprise to exploit the terms and conditions negotiated in active contracts.