|How Chart found its
It’s easy for companies to lose sight of their contracts. While they dictate B2B relationships, revenues, and performance outcomes, many companies still don’t treat contracts with the importance they deserve. You've probably seen it: contracts stored haphazardly in filing cabinets in some back-office room, legal departments with various versions of the document on their local desktops, sales teams with no way to track progress of contract approvals, and email serving as the most efficient way to communicate critical changes and information.
But what many companies don’t see is the ripple effect poor contract management can have throughout the organization. Delayed approvals, lost deals, missed revenue, rogue contracting, and unfavorable contract terms are all real consequences and all completely avoidable.
For Chart Industries, where contracting processes weren't clearly defined, enough was enough. Storing documents in various file folders, local hard drives, and mismanaged share drives had led to a lack of visibility. Processes and documents were completed off-the-cuff by employees, creating inconsistency. When the lack of effective contract management was becoming a liability, Chart knew it was time to take action.
In a recent webcast, Chart Industries openly discusses its journey to improving contract management. I conducted a session with Stacey Childs to talk about the challenges Chart faced and its goals in seeking a solution. The discussion covers several topics:
- The major pain points Chart experienced
- Why it chose to pursue a contract management solution
- What the company was seeking
- Why Chart selected Revitas
- How Chart is planning to maximize success through improved contract management
Take a listen to our discussion to learn more about how Chart transformed its contract management and gained insight into the key attributes every company should keep in mind when searching for the right contract management solution.