Do you know where your contracts are? Do you have consistent policies and procedures within your organization for managing contracts? Are you getting automated notifications or alerts when an important milestone or deadline is reached?

According to a contract management survey conducted by M-Files among companies sized 100-500 employees, it’s clear that many companies put themselves at risk by omitting their contract management processes. Contracts are saved in emails, network folders, shared drives … or as hard copies in filing cabinets, making systematic and consistent management of the contracts impossible.