Contract Arbitration: 3 Advantages and 3 Disadvantages for Your Business
When a contract breaches and a relationship goes sour, contract arbitration is a common way to settle the parties’ differences without going to court. Arbitration can save both parties a heap of money, and potentially other costs like a messy, public court battle. It sounds good, right? And it is an option but there are […]
5 Essential Questions to Ask When Auditing Contracts
When it comes time to audit contracts for your small business, it’s important to go in with a plan. A self-audit is a really powerful tool to examine and reconfigure your cash flow. Here are our tips for how best to do it. The Basics of Auditing Contracts for a Small Business First of all, […]
Contract Breach vs. Contract Amendments: Learn to Identify Them
Even the best-written contract may need to change, and when it does you have two options: Contract breach, or contract amendments. The difference between them is the difference between your worst nightmare and your best friend. Don’t despair! This is the info you need to decide what to do. What is a Contract Breach? Since […]
Why Every Business Needs a Contract Repository
Leading companies are moving their agreements to a contract repository. These are some of the benefits of having a single place for contracts and why every business should have one. How Does a Contract Repository Work? The most obvious thing a contract repository does is create a single place for all your business contracts, and […]
How to Build a Contract Process That Increases Efficiency and Prevents Breach
Is your ad hoc contract process putting your business at risk? As the builders of a platform that was made for small business contract management, we have heard firsthand some of the horror stories that stem from a lax contract process: An apparel company had a multi-million-dollar deal go to their competition because no one […]
Force Majeure and Your Commercial Lease
If you’re like many business leaders, you don’t think much about your lease. The business needed a place to operate, thrive, and grow, and it did you just fine until… Bam! The coronavirus shut you down. Maybe you’ve been lucky enough to take some or all of your business online. And maybe your teams are […]
Your CRM Contract: The Most Important Thing You’ll Ever Sign
Your Customer Relationship Management (CRM) tool is in many ways the bedrock of your organization’s operations. It should be a single source of truth – not just for your sales and marketing teams but also for customer service, finance, fulfillment, and everyone else! These tools are a long-term, expensive commitment, so you should make sure […]
3 ERP Contract Pitfalls to Watch Out For
So, you have found your enterprise software perfect match and you’re eager to get started? Great! Your enthusiasm is warranted – after all, integrating all your business tools can save you 23 percent in operational costs and 22 percent in administration costs [PDF]. But most ERP contracts are expensive, multi-year contracts, and besides the spend, […]
How to Protect Your Business from the Long-Term Impacts of COVID-19
Can you believe it’s been less than a season since the devastating impacts of COVID-19 upturned our lives, shuttered our offices, and turned a trip to the store into an existential threat to our health? For some businesses, like retail, the impact was immediate and disastrous. For others, it is taking longer to feel the […]
How to Write Contracts for the Unexpected (Like Coronavirus)
The COVID-19 pandemic is hitting businesses hard and it is well-prepared companies who are faring the best. Conferences and trade shows have been canceled, stores are closing, manufacturers are scaling back to a skeleton crew, and supply lines are slowing to a crawl. Many companies are looking hard at their contracts to see what their […]