The Secret Sauce

Every single day, somebody tries to pitch a new “business insight”. You can’t really blame those people for hawking the latest “secret sauce”, after all multinationals have been built on the concept of a “secret sauce” such as Coca-Cola and KFC. After all, who wouldn’t want a peek at the Colonel’s secret flavor recipe of 11 herbs and spices? One company that is exploiting very well everybody’s obsession with a “business insight” is Xerox with its latest marketing campaign.

The Xerox marketing campaign is designed on a simple business insight: how much time do are you really spending on your core business?

Focus on Your Core Business

Would Mr. Clean be able to help all his loyal housewives around the world if he was too busy digitizing documents? The answer is obvious. The simplicity, yet power, of this business insight is what makes the marketing campaign from Xerox so memorable and convincing. When your business processes are taken care of, you can focus on the critical activities that matter most, your core business, your real business. Just like in the case of digital document management, you need to find a reliable partner who can take care of your contract management system.

Why Outsource Contract Management?

Most managers don’t fully grasp the complete amount of time that it takes them or their staff to complete activities related to the quote-to-cash process. If a manager was to sit down and keep track of the hours that he or his staff spend on tasks such as new contract requests, data entry and management, and other related activities, he or she would be surprised at how little time is budgeted to these tasks.

On top of this, while your company may be great at designing buildings, it may be weak at contract authoring and creation. If that is the case, not only are you taking a long time to do contract management, but you are also doing it wrong. This is a waste of limited time and resources.

Therefore, it is key to always keep in mind our useful business insight: focus on your core business.

Benefits from Using Contract Management Software

Some of the benefits of using a professional contract management software to manage your quote-to- cash cycle include:

• Secure, centralized contract documents and data
• Access to contracts, documents and data from anywhere, anytime
• Increased contract visibility across enterprise
• Increased contract compliance
• Simplified data entry and management
• Increased control of data integrity
• Improved knowledge of contract language consistency
• Reduced time in contract management processes

Conclusion

A major business insight is now available to you: Focus on yourcore business by freeing up resources currently tied to contract management processes. Hire a firm whose core business is contract management technology and services so you can focus on your real business – the things that you made great in the first place.

About: Damian Davila is a freelance writer that reviews business applications such as contract management software.