What is commercial contract management?

1
Commercial Contract Management

• Everything you need to know.

2
Contract Management

• From negotiation to renewal, every step involved
  in contract management is crucial.
• Contract Management is meant to efficiently
  manage all these steps in a contract management
  effectively.
• Contract management software plays a significant
  role in helping sales teams quickly draft up
  contracts and process them so that they can close
  deals faster.

3
What is Commercial Contract Management?

• Commercial contract management is the process of
  negotiating formal business agreements between
  two companies.
• In commercial contract management, it is the duty
  of the contract managers to organize the entire
  process and ensure that all parties involved are
  aware of their deliverables, rights, and
  responsibilities.
• Professionals working in this field need to be
  highly experienced and skilled.

4
Commercial Contract Management

• Agreements related to goods service supply
• Agreements related to finance and loans
• Agreements related to copyright and intellectual
  property
• Agreements in licensing and franchising
• Agreements in joint ventures
• Agreements among business entities

5
Commercial Contract Management Process

• From negotiation to termination or renewal, there
  are several steps involved in the commercial
  contract management system.
• Contract managers handle, not only, drafting and
  renewal of contracts, but they also need to
  interpret, manage, and enforce existing
  contracts.
• Depending upon organizations, this process might
  be overseen by a single contract management
  expert or a team of experts.

6
Certified Commercial Contract Managers

• The NCMA (National Contract Management
  Association) provides this certification.
• The Certified Commercial Contract Manager (CCCM)
  for professionals in commercial contract
  management.
• For professionals engaged in government sector
  the designation becomes Certified Federal
  Contract Manager (CFCM).
• Certified Professional Contract Manager (CPCM) is
  experienced and trained in both earlier areas.

7
Commercial Contract Management System

• As the company grows the number of contracts you
  sign on a monthly base also multiplies. The
  chances for risks also multiplies.
• With an automated solution you can draft
  contracts easily, get them trough approval stages
  automatically without any hiccups, store them
  safely in a digitally encrypted storage location.
• Imagine the time teams could save in the process,
  all because of the contract management solution.

8
Conclusion

• Commercial contract management system is crucial
  for enterprise organizations.
• Without proper supervision and planned execution,
  you could be in big trouble.
• When certified professionals are empowered with
  the right tools you achieve the most of out of
  contract management processes.