Throughout the process, sticking to the principle of maintaining strong attention on the customer is essential. This is a fundamental guiding notion. Consequently, the organization must prioritize the customer’s requirements and preferences throughout the decision-making process. To achieve success in contract management, the essay places a large amount of attention on the need to maintain to maintain a mindset centered on the client (Kar et al., 2023). As a consequence of the fact that the firm has a thorough strategy centered on the customer, it can guarantee that it can fulfill the requirements and expectations of its customers. In the long term, this results in improved customer satisfaction and loyalty, which benefits the organization.
Guiding Principle 2: Streamline and mechanize
Within the scope of this part, the second guiding principle that will be investigated is automating and simplifying processes. Considering this, it is of the utmost importance for the corporation to make efforts toward simplifying and increasing the execution of the method they employ to manage contracts (Cope et al., 2023). Throughout the book, the use of technology to automate jobs and procedures, such as data input and document storage, is stressed as one of the most essential phases toward reaching higher levels of efficiency. Throughout the whole of the book, this is included as one of the most critical issues that is discussed. Suppose the organization can optimize the process of contract management via the use of automation and simplicity. In that case, it may be feasible for the organization to get savings in terms of both time and resources and benefits in terms of accuracy and efficiency.
Guiding Principle 1: Stay Focused on the Customer
For the company to successfully execute the guiding concept presented in the article, meeting the client’s needs is essential. It wishes to be central to its decision-making process regarding handling contracts. Consider the following example: The company is contemplating whether or not it would be beneficial to outsource the administration of its contracts (Kar et al., 2023). In this particular scenario, the corporation must analyze the impact this decision would have on the company’s customers. As the corporation deliberates about which software for contract management to use, they have to consider the degree to which it will fulfill its customers’ requirements. This is something that they should take into consideration first. Under the condition that the firm consistently sets the requirements and desires of the customer at the center of its priorities, it is feasible for the company to guarantee that the activities it engages in will result in improved levels of customer satisfaction and loyalty.
Guiding Principle 2: Simplify and Automate
The organization must make use of technology in order to automate the procedures and duties that are associated with the administration of contracts at their company. This is something that the organization ought to do to put into reality the guiding notion presented in the article. For instance, it is advisable to make use of software in order to maintain and arrange contracts, as well as to keep track of deadlines and other important dates during the length of the project. For example, software may accomplish this (Cope et al., 2023). Additionally, it would be beneficial for them to use technology to automate the data input process, which would minimize the need for human data entry. This would be a significant benefit. The approach the company takes to the administration of contracts may be simplified and automated, resulting in time and resource savings. Furthermore, as a consequence of this procedure, the organization could see improvements in these improvements inon
There is a potential that the guiding concepts that are covered in Chapter 5 of the book “Contract Management: A Guide for Project Administrators and Lawyers” may be applied in the article titled “Contract Management: 10 Steps to Success.” This is a possibility, of course (Kar et al., 2023). Maintaining a solid commitment to the customer, simplifying and mechanizing the process of contract administration, and maintaining a solid commitment to the customer are all possible outcomes of the following strategies, which are all methods that the company can use to increase customer satisfaction and loyalty while simultaneously saving time and resources.
References
Cope, J. M., Dowling, N. A., Hesp, S. A., Omori, K. L., Bessell-Browne, P., Castello, L., … & Prince, J. (2023). The stock assessment theory of relativity: deconstructing the term “data-limited” fisheries into components and guiding principles to support the science of fisheries management. Reviews in Fish Biology and Fisheries, 33(1), 241–263.
Kar, A. K., Angelopoulos, S., & Rao, H. R. (2023). Big data-driven theory building: Philosophies, guiding principles, and common traps. International Journal of Information Management, 102661.
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