Contract management in our industry has never been more critical as capital projects become larger and more complex. The process involves managing the end-to-end contract life cycle to ensure the parties meet their contractual obligation. You need to make the right decisions and have a timely flow of information to build an asset that conforms with a contract dot limits. That’s why it’s necessary to optimize process efficiency, balancing cost, and risks against returns, while aiming for continuous improvement in performance over the life of the contract.

In our industry, poorly managed contracts lead to risks and disputes. This occurs because most contract management systems and processes are disparate and disconnected from the project team. This leads to a lack of connection between scheduled procurement activities and project financials. In addition, you’re unable to important items such as pay requests and change orders and address related issues effectively.

It’s these poor contract management practices that are at the heart of costly construction industry disputes, and those disputes can cost companies like yours millions of dollars. However, what if I told you there was a better way. With the InEight Contract Management solution, all project stakeholders can track unique project and manage the entire life cycle of the contract process. Our solution allows you to integrate of contract management activities with contract financials, eliminate labor intensive, and error prone processing of contracts effectively track and administer pay requests, monitor the responsibilities of all parties across all scopes of work, have complete ability throughout the life cycle of the contract process.

If you’d like to learn more about this and other InEight solutions, contact us and we’ll be happy to schedule a free demo.

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