New white paper from Dolphin explains why managing contract obligations is important to any business

18th May, 2011, UK

Dolphin Software has published a new white paper that examines how contract obligations can affect business risk and the bottom line. 

Says Dolphin Software’s Founder and Chief Marketing Officer, Ronan Lavelle: “The phrase ‘contract obligation management’ may not sound very exciting, but it has huge implications on a business.  When a working relationship is set up – for instance, between a supplier and a customer – they agree the parameters: the ‘ought to’, ‘must do’ and ‘should do’ elements, which are then documented in a contract or agreement in one form or another.”

“Since Gartner estimates that 60-80% of all business transactions are governed by these agreements, we can safely assume that contractual obligations play a significant role in defining the way most organisations work with third parties.  Contract obligations are at the very heart of an organisation and will have a direct impact on performance, compliance and profitability.”

5 reasons why contract obligation management matters:

• Risk mitigation
• Avoidance of litigation
• Better relationships with suppliers
• Increased performance & operational efficiency
• Reduced costs and increased profitability