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Contract Management: Tools for Improving the Process Within Organizations

Analyzing Contracting Responsibilities, Building an Efficient Contract Management Process, Reducing Organizational Risk

Recording of a 90-minute CLE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Thursday, February 8, 2024

Recorded event now available

or call 1-800-926-7926

This CLE course will provide in-house counsel with insights on how best to manage contracts in a high volume, high velocity corporate environment. The panel will discuss how to manage the contract life cycle, including building a contract management program that can help in-house legal departments oversee each step of the process, while also ensuring the involvement of the relevant stakeholders in an organization.

Description

In-house counsel is typically responsible for oversight of negotiating, drafting, modifying, and renewing a high volume of various contracts within an organization. Parties involved in the contracting process are often non-legal personnel, using language, forms, and inserts that may evolve over time.

GCs must work with sales, procurement, finance, and compliance departments to develop a contract management process that minimizes legal department involvement while protecting the organization. The best process gives an organization the power to create and monitor contracts faster, smarter, and at a far lower cost while preserving the integrity of company contracts. While contract management may be handled in-house, some law departments are using in-house and third-party vendor solutions to help make the process more efficient.

Listen as our panel discusses the benefits of a contract management program and key features to consider when designing and implementing one.

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Outline

  1. Legal department's role in contract management
  2. Benefits of a contract management program
  3. Participants in the contract process: sales, procurement, finance, and compliance personnel
  4. Contract life cycle
  5. Building a contract management program
  6. Forms, checklists, and playbooks
  7. Monitoring amendments, extensions, terminations
  8. Using technology to manage contracts

Benefits

The panel will review these and other key issues:

  • What factors should corporate legal departments consider when designing a process to make contract management more efficient?
  • How can in-house counsel efficiently move contracts through the contract's life cycle while also mitigating contractual risks for the company?

Faculty

Harvey, Jeffrey
Jeffrey L. Harvey

Partner, Chair Global Outsourcing and Technology Practice Group
Hunton Andrews Kurth

Mr. Harvey practice focuses on global outsourcing, technology, e-commerce and commercial contracting transactions. His...  |  Read More

Larkin, Stephanie
Stephanie J. Larkin

Partner
Hinckley Allen

Ms. Larkin represents clients of all sizes and geographies, including public companies, private equity-owned companies,...  |  Read More

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