Michele Curley

How to Solve the Problem of Contract Version Control

By Michele Curley

  November 29, 2016        Contract Management

Things can go wrong with any job, in any industry. Human error, miscommunications and sometimes just bad luck can throw off the best laid plans.

For an organization that relies on contracts to define their business, when things go wrong, it can mean a prolonged contract process, extra costs, delayed revenue - or in the worst scenarios - a lost deal.

Depending on its size, an organization could have tens to thousands of contracts in motion - with many requiring edits and approvals before they can be signed. With so many edits being shared, it’s easy for things to get out of hand. Often, the wrong version of a contract can accidentally be introduced into the process. Whether the contract was wrong from the moment it was generated, or got mixed up during the redlining process, having the wrong version of a contract can dramatically delay a deal. Instead of selling, time is then spent tracing the contract back to see where things went wrong. Sometimes you don’t realize the contract is outdated until it’s too late.

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3 Costs of Storing Contracts On-Premise

By Michele Curley

  February 25, 2016        Contract Management

“Electronic medical records led to quite the unique hostage situation in Los Angeles this week.”

That’s what the Washington Post said about a computer hack at an L.A. hospital, which prompted the hospital to pay $17,000 in ransom to the hackers.

Hackers used malware to lock access to certain computer systems at Hollywood Presbyterian Medical Center, which prevented staff from sharing medical records electronically.

This incident has prompted questions as to how the hospital stores and manages their records. The medical records were stored electronically on an internal server, but it’s unknown if IT staff properly encrypted the information, trained staff on anti-phishing techniques or if use audits were conducted. All of these are responsibilities of the organization running the internal server, and in this case, it was the hospital itself.

The news sheds a light on how important documents are being stored and shared in a world where computer-hacking is becoming more common. What if this happened in the business world? What if contracts, the revenue-source for a company, were suddenly not accessible?

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Keeping Your Sales Team Competitive

By Michele Curley

  October 5, 2015        Contract Management, Sales Enablement

When dealing with customers, it’s in the salesperson’s best interest to set themselves apart from other sales teams. As a Sales Representative myself, I’ve learned it’s often the timing in which we do business that can be the biggest differentiator with competitors.

When a customer seeks out a product or a service, they want answers with a solution in a timely manner. If you are slow to deliver a contract to the customer, you risk losing that customer, possibly to a competitor who got everything together a little faster than you. A slow contract process can also cost your company revenue by keeping sales teams from moving on to the next deal.

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6 Contract Management Email Collaboration Risks

By Michele Curley

  July 15, 2015        Contract Management

As a Small and Medium Business (SMB) Account Executive at SpringCM, I have developed relationships with many companies who have less than 500 employees. A trend I have noticed throughout these companies is a reliance on using email to collaborate with coworkers — particularly when it comes to contract management.

There are plenty of reasons why companies assume email is the best way to collaborate. Some think that their contract process is too complicated to be streamlined, others think their company is too small for a more elaborate solution.

What most don’t consider, however, are the risks associated with collaborating over email for contract management.

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