As your business grows and scales, there is simply no way to manually keep track of all the relevant contract deadlines and milestones yourself. However, meeting these deadlines and reaching these milestones is extremely important. Not only is your business reputation at stake, but you can also face financial and legal penalties when deadlines are missed.
With an effectivedigital contract management software, you need a system in place to track all important contract deadlines and milestones. Although a small contract portfolio can be tracked manually, contract management software will be a necessity after your portfolio reaches a certain size.
Dedicated contract management tools makes it easy to view all the relevant contract deadlines your business is facing, including milestones and expirations, so that you can take the appropriate actions well in advance.