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This Week in Contract Management: West Australian Health Worker Overspends by Millions on IT Contract

Corridor Company Blog Posts, contract management, contract management software, contract managers, IACCM, West Australian Health Department

Thank you for joining us for This Week in Contract Management.  Did you happen to see the article about the West Australian Health Department official who overspent on an IT contract in excess of $40 million?  That is not a typo folks.  $40 million!  Can you imagine walking down the hallway of your office to tell your supervisor that your mismanagement of a contract will cost your company an additional $40 million?  Good luck with that conversation.

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Contract Economics 101: Transforming Your Contracts into Opportunities

Dermot Whittaker Blog Posts, contract economics, contract management, contract managers, effectiveness, efficiency, Efficient, return on investment

In discussions of the ROI of a contract management system, the distinction is often made between efficiency and effectiveness. Getting more work done in less time, or at lower cost, is efficiency. When a contract management system reduces search time for contracts, allows standard language to be reviewed once instead of multiple times, and allows contract professionals to handle work that used to go to more skilled (and more costly) attorneys – that’s efficiency.

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Contract Economics 101: Building a Business Case for a Contract Management Software

Dermot Whittaker Blog Posts, business case, contract economics, contract management, contract management software, contract managers, return on investment

Post by Dermot Whittaker, Sales Support Manager, Corridor Company

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Contract Economics 101: Leveraging Process and Automation

Jasmin Steely Blog Posts, contract managers

In our last blog, Contract Economics 101 | Focusing the Right Human Resources on the Right Business Problem, we reviewed the different roles professionals play in creating and managing contracts. While you may have the good fortune to have a team of attorneys in your employ, it might not make smart economic sense to dedicate them to standard contract reviews. Rather, it is best to ensure that those who can most economically and efficiently address the various aspects of contract lifecycle management do so.

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The Costs of Unmet Contractual Obligations: $100 Million in Questionable Costs

Dermot Whittaker Blog Posts, contract management, contract managers, contracting errors

When contracting errors become public, contract professionals have an opportunity to learn how to avoid similar mistakes. A recent example: As reported in the Washington Post*, a United States Defense Department inspector general’s report found that a "major defense contractor 'did not properly charge labor rates' for a counter-narcoterrorism contract, and that the Army agency in charge of the contract did not ensure that the people performing the work had the necessary qualifications." Over $100 million in questionable costs were charged to the government, according to the report.

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A Contract Professional's Untold Story - Value!

Russ Edelman Blog Posts, contract management, contract management software, contract managers, contract professionals, request for proposal, RFP

We have had the opportunity to work with contract professionals in all parts of the world. While cultures and personal styles vary considerably, contract professionals show a common desire to introduce value into their respective organizations as they manage the complexities of contracts. And while they succeed in introducing value every day, that value frequently goes unrecognized. As a result, our beloved contract professionals often become corporate martyrs rather than corporate heroes.

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Contract Managers and IT Need to Ask: Should I Migrate Existing Content into MY New System?

Aaron Cutlip Blog Posts, contract managers, IT, migration

A typical decision point when implementing any new document management system revolves around what to do with the documents and content from the previous system. In a perfect world, all of the old content comes along for the ride and works perfectly in the new system with little to no effort. However, let’s talk about the reality of migrations and leave “perfect" out of this discussion. The purpose of this post is to frame out the points that should be considered when deciding if you should migrate anything and what migration strategies you might use.

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