Most companies know that they need to keep track of contracts. The challenge is, they just do not know how. Usually someone is given the task of tracking contracts but they are not given direction or resources so they do the best that they can.
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It is the purpose of many nonprofits and NGOs to take action in resolving global health issues and, to establish and provide resources to struggling people who have nowhere to turn. Their mission is to educate, inform, and strength healthcare workers and systems.
Providing these resources is the first step in their mission. Their challenge is to provide these resources in the most effective and efficient way possible.
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As a nonprofit product development partnership (PDP), TB Alliance collaborates with many external partners globally in their quest to discover and develop better, faster-acting, and affordable drugs to fight tuberculosis.
In support of their contractual collaborations, they originally used a SaaS NGO/NPO contract management system competitor, but glitches, more cumbersome system features than actual benefits, and poor customer service left them in need of a new document management platform. Since choosing DocuVantage one year ago, they haven’t looked back.
Click here to read the case study and learn how TB Alliance integrated document management for a reliable and customizable contracts administration process that saved over $22,000 annually, reduced document retrieval time by 50%, and reduced contract record setup time by 30%.
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Non-governmental organizations (NGOs) and nonprofit organizations (NPOs) are jumping on board with a very popular trend in process improvement; automated contract management. To be fair, though, contract automation is not so much a transitory “trend” as it is an essential, sustainable ingredient in NGO and nonprofit management.
So you want to become a successful and tech-savvy contract manager? That’s a respectable goal, and it’s also not as complex as you may think. Here are four down-to-earth tips to elevating your contract administration efficiency:
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There's a lot at stake working for a nonprofit, NGO, or NPO.You have a mission to fulfill, and limited resources to fulfill it in an efficient and cost-effective manner. It's easy to lose sight of your cause when your backend processes take up all of your time. What you need is a workflow to help your mission accomplish itself.
We've discussed the benefits of a document management system for business process improvement, and for the next few weeks we'll be posting real-world Nonprofit and NGO Success Stories.
A $70M+ international nonprofit organization educates and helps others to prevent and control disease abroad. However, expanding their services to 140 countries requires a sophisticated contract management system. Here's how they addressed that problem with DMS, and how the savings in time and money helped them focus on their mission to save lives.
Read their success story here.
Read MoreWe'd reported on a study conducted by the National Contract Management Association (NCMA), which opened our eyes to the rampant inefficiency plaguing the contract lifecyle management (CLM) of countless organizations – companies and NGOs/nonprofits sweeping the gamut of industry type, geographic location and size.
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The National Contract Management Association (NCMA) conducted a study on contract management efficiency. The organization interviewed over 100 companies, from a wide range of industries headquartered in both the U.S. and Europe, on their contract management process – from contract creation and visibility/access to contract commitment control/tracking and risk management. Their findings were far from positive, but provided a crucial wake-up call for organizations of all sizes and industries: Companies aren’t coming close to achieving document control efficiency via contract management best practices.
A few of the study’s eye-opening findings:
Let’s just say that contract management isn’t your organization’s strong suit.
Yup, you fit the bill all right: You’re the perfect candidate for powerful contract management software. That’s right: There is a document management system out there that organizes and controls your records for you. No more paper pushing; no more coffee stains; no more approval ambiguities and deadline debacles.
How do you find the right contract management software for you?
First, know what you need:
1. Contract management is tedious, time consuming and an expensive process, often involving a variety of people that view it as extra work and not their primary job.
2. Contracts often get lost, or continuously put to the bottom of the pile during the routing and approval process.
Non-governmental organizations are accelerating contractual document review and approvals four-fold, increasing compliance and controls with DocuVantage’s cross-ops solutions.
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