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Lighthouse Law

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How to Streamline Your Contract Delivery Process📈 Here is a scenario that is all too familiar for most of us: You have too many contracts to close. There are competing deadlines, and everyone wants their contract completed urgently⌛.You don’t want to miss any deadlines, but you also need to make sure the contracts meet business requirements and manage business risk. And to top it all off, your finance team is placing budget pressure on you to close more contracts for less cost💰, while you were hoping to hire another team member to ease the workload. Sound familiar? It’s not surprising that many in-house lawyers, procurement and contracting teams are just trying to keep their heads above water - focusing their time and attention on what is most urgent, has the highest value or most risk, or simply the loudest demand. Being in this constant state doesn’t allow you to make the strategic changes to your contract delivery process needs to become more efficient and meet demand🚧. But this shouldn’t be the case. Our team has put a lot of time, thought and effort into streamlining the contract delivery process for multiple in-house legal, procurement and contracting teams, both big and small. We have put together a list of suggestions that help deliver contracts faster, manage risk, and create better resource efficiency. These changes are divided into process, technology and knowledge and we will explore these in our next posts. These changes are not moonshots– they will involve only a small amount of cost and effort. Each one of them, though small, can make a big difference to the bigger contracting picture🔎. #contractmanagement #procurementinnovation #efficiency #riskmanagement

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