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In order to make the right decisions, it’s essential to have insight into the contractual basis of your organisation’s obligations In order to make the right decisions, it’s essential to have insight into the contractual basis of your organisation’s obligations. When knowledge and insight is only available to one key person the risk of making wrong decisions that can affect your bottom line and reputation increases.

We have a naturally strong focus on data protection and compliance. Even before the General Data Protection Regulation (GDPR) Act came into force on 25 May 2018, COMAsystem was developed with “Privacy by Design” in mind. This means that data placed with us is fundamentally protected through our technological design, i.e. the technology package on which the solution is organised.

In our experience, there are more than you might realise, so there are several factors to consider when choosing a contract management system. How do you move contracts, what contract data creates value for you, who are the contract managers and does it support your business.

If you don’t have a complete overview of your agreements and contracts, you lose transparency – therefore you risk overlooking costs if your contract management is not in control. An independent study by World Commerce & Contracting shows that good contract management can improve your bottom line by up to 9%. Here’s why and how to avoid the costly consequences.