Contract management is information management

27 November 2018

Contract management does not only mean drafting and registering contracts, but it goes even further: Contract management encompasses the process whereby, on the basis of information garnered from negotiations, contracts are drafted, authorised and unambiguously recorded so that they can be managed and guarded so that complete utilisation of the contracts can be facilitated and in order to minimise risks.

Contract management is a branch of information management. It revolves around the right contract details being available for the right person at the right time. The objective is that customer-supplier relationships develop and are maintained which are based, both formally and informally, contractual and contactual, on clarity about the agreements and procedures made and on mutual cooperation.