One of the frustrations that we hear frequently is that it can be challenging to get approval for a Contract Management System since the company views it as a cost center, and most new systems go towards revenue.
In addition to the amazing time savings you will get from a CMS, which usually will more than pay for the system by itself, and the security and convenience benefits of a CMS (priceless!), studies show a huge revenue impact from poor contract management processes and systems.
According to IACCM (the International Association for Contract and Commercial Management), companies lose 9.2 percent of their annual revenue due to poor contract management practices. Understanding how contract management is supposed to work is where that money comes back. That's on average! How much would recouping just 2-3% of that revenue a year help your company? And wouldn't that make it super worthwhile to put in a CMS, especially one like ContractSafe that can be up and running on Day 1?
So here's a link to a study on this from IACCM. We hope it helps you make your case! And let us know if you'd like a demo to see for yourself all the ways a simple, easy-to-use CMS can save your company money and make your life a whole lot easier. Just click here to set up some time.
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