Contracts underpin every crucial business process. Weaving through your business, these strategic agreements impact revenues, costs, compliance and operations.

Despite their undeniable value and importance, when it comes to contract management, many enterprises are flying blind; exposing themselves to revenue leakage, inflated costs, diminished negotiation leverage, missed opportunities, poor compliance, and possible regulatory backlash.

Yet some organizations have turned contract management into a strategic advantage. And you can, too.

Listen in as Vishal Patel, research analyst with Aberdeen Group, outlines how best-in-class companies have conquered the contract management challenges to gain insight into critical revenue and spend data, reduce sales and procurement cycles, and, most importantly, reveal and measure native contract risks and value.

These Best-in-Class leaders enjoy:

• 12% greater on-contract spending than the average company
• 24% greater compliance to negotiated pricing and terms in their purchasing agreements
• 20% greater compliance to critical performance based service agreements
• Contract renewal rates 11% higher than the average company
• 20% greater compliance to service level agreements
• Sales agreement cycle-times of 15 days compared to 30 days for others

As part of his presentation, Patel provides a behind the scenes look at Aberdeen’s latest report, Contract Lifecycle Management and the CFO.