If your business provides client contracts there are some major changes happening in 2018 that mean it’s probably the right time to revisit how you manage and control those contracts.
While a contract management system may not previously have seemed necessary, changes to regulatory compliance and more competitive markets indicate that it’s a decision that you should reconsider.
Regulatory compliance
The first big regulatory change that will affect most businesses in 2018 is the introduction of General Data Protection Regulation (GDPR) in May this year. This legislation supersedes the Data Protection Act 1998.
Marketing Week provides some useful guidance on how to approach your own GDPR strategy.
Essentially, GDPR set outs how data should be collected, processed, used and stored. It not only applies to prospect and customer data but also records that a business holds about its employees. CMS software can play a major role in ensuring effective control of data and that rigorous processes are adhered to.
The second major change in 2018 is to the ISO certification process. This certification demonstrates that an organisation is committed to providing the highest quality products and services and also constantly improving its quality management systems. It is often something a potential client will look for and use to compare potential suppliers.
By September 2018 any organisation currently holding the ISO9001:2008 certification will need to achieve the updated ISO9001:2015 standard to maintain their accreditation. CMS software can help to minimise, or even eliminate, mistakes in the contract management process which in turn should assist in maintaining or achieving the new ISO standards.
Companies such as https://www.contractswise.com/ have a wealth of experience in providing CMS systems and can provide clients with guidance on the best solution for an organisation.
Effective employee management
While the forthcoming GDPR regulations direct how employee data should be used and stored and CMS software will help ensure compliance, there are other benefits to be had in this area. Effective management of staff rostering, including covering sickness and absence, can have real benefits in ensuring that you stay ahead of your competitors. Knowing which staff are on each contract, at what time and for how long will provide a wealth of invaluable management information.
So, if your business has looked at CMS software previously and dismissed it, it might be time to look again.
