A recent article, “Use the Contract Hierarchy for Better Results,” in the The Berkman Letter outlined an innovative approach to contract management. The contract hierarchy can improve profitability, collaboration, and risk management. The contract hierarchy unifies the legal concept of a contract, document management, and business analysis. This article explains the hierarchy and then shows how to use Lextree for Contract Management to implement the contract hierarchy.
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Contract management seems like a daunting undertaking when faced with scattered files and missing spreadsheets. The financial benefits of contract management are worth the effort. This article provides a roadmap to get your organization from messy to managed.