10 Predictions about Contract Management in 2014 describes trends in risk management, compliance and contracting.

1. predictions
Contract
M a n a g e m e n t

2. Contract Analyst
Contract Management Simplified™
10260 SW Greenburg Road, 4th floor
Portland OR 97223
503.535.8800
www.ContractAnalyst.com
sales@contractanalyst.com

3. Contract management
will move beyond
expiration date tracking.
Expiration dates only scratch the surface of
risks and opportunities associated with
contracts. Performance obligations, legal policy
exceptions, and contract portfolio analysis
deliver real value to the organization.

4. Contract Managers will
take on more compliance
duties.
Compliance now dominates large and small
businesses in every industry. Compliance is
everyone’s responsibility, because the
organization is at risk. Contract Managers have
a vital role to play in tracking external legal
requirements.

5. Senior management will
focus on the contract
portfolio.
The contract portfolio is the entire body of
contracts that create the infrastructure for
income and expenses; assets and liabilities.
Management doesn’t have time to review one
contract at time. They need a window into the
contract portfolio.

6. Commercial contract
management will increase
in importance.
Contract management used to be reserved for
government or public contracts. The
professionalism and discipline that contract
managers offer will benefit commercial
contract management.

7. General counsel and
corporate paralegals will
become active in contract
management.
In house lawyers face a broader movement to
become risk managers and compliance
officers. Lawyers strive to remain connected to
operations so they can spot issues. Contract
management is a powerful tool for lawyers
and paralegals to discover hidden risks.

8. Organizations will insist
on easy implementation
of contract management
software.
Too many contract management solutions die
on the vine because the technology requires
too much configuration. No one has time for
the “Tell us what you want” approach from
vendors. Contract management software must
be configured for immediate impact.

9. Contract details will
influence the entire
organization.
With better tracking and management of
contracts, contract managers, lawyers and
paralegals can increase the visibility of
requirements without forcing everyone to read
the contract.

10. The risk register will
become a routine part of
contract management.
To make a significant difference, contract
managers, lawyers and paralegals will provide
organizations with a risk register, an inventory
of legal and compliance risks. This inventory
will focus the organization on the highest risks
to success.

11. Automated, scheduled
contract portfolio reports
will become routine.
The risk register and the contract portfolio
cannot improve the business if they sit on
someone’s desktop. Contract management
software will need to deliver robust reports
automatically and routinely.

12. Business lawyers will offer
contract management
services.
The competitive landscape for legal services
and outsourcing are changing dramatically.
Outside business lawyers are left in the dark
after a contract is executed. Business lawyers
improve client relations by providing contract
management services.

13. Contract Analyst
Contract Management Simplified™
10260 SW Greenburg Road, 4th floor
Portland OR 97223
503.535.8800
www.ContractAnalyst.com
sales@contractanalyst.com