The Butterfly Effect of Contracts Data Management

Four butterflies in motion

In chaos theory, the butterfly effect is the sensitive dependence on initial conditions in which a small change in one state of a deterministic nonlinear system can result in large differences in a later state.

Small actions and changes can have positive or negative effects in the management of contracts data, depending on the situation.

Poor contracts management can leave your procurement and purchasing departments in such a mess that it ends up costing the business valuable time and money. Imagine; you have all your contracts data in one spreadsheet and your co-workers also need to make changes to the spreadsheet, so you make a copy for them. Pretty soon, you have many different versions of the truth floating around… This scenario is all too common in businesses.

Risk of errors is all too high when working in spreadsheets, individuals inputting data into multiple spreadsheets lead to duplications, formulation errors and overall incorrect data that will build to larger difficulties in a later state. To improve contracts management and reduce the risk of errors, businesses need to look towards working with robust contract management systems that can be central for all users and can be instantly updated so everyone is working in real-time.

Central contract management systems enables businesses to keep on top of contracts, managing suppliers and make sure everything is compliant with standards. Improving information management and automating data and reporting will ensure you have one version of the truth and thanks to alert and notification functionality, nothing will ever get missed amongst your team.

Making a change in how you manage your contracts data can make large differences to the business in the long term. Through better contracts management you can manage your contracts and suppliers in the most efficient, cost effective and compliant way.

Contract management systems: when control and compliance has become business critical.

We’ve been creating contract management systems since 2010 for companies both in the private and public sector. The team at Target specialise in providing businesses with the tools to be more efficient, effective and lean with their data and assets by developing creative software solutions. Need a data management system? Talk to us.

Find out if you’re ready with our 
Accord Onboarding Kit

Not sure if Accord is right for you? We understand it’s not easy to make a decision on a new system, but that’s why we’ve created our Onboarding Kit to make that that process simple.

Check our package details

Find out no matter which bundle you choose, you’ll be getting the best features you need for you and your team so you can achieve your contracts management goals.

Make it your own

You’ll get to see and choose your customisation options, and check out the available add-ons and extras so the system is exactly what you want and need.

Quickly getting you started.

Keeping this guide with you, and working closely with us, we can walk you through each step so you can be completely up and running with your own Accord system.

Image of contractor compliance starter pack

It’s easy to get started.

Step 1

Book a demo of Accord with the team.

Step 2

We’ll chat through your requirements and see if Accord is right for you.

Step 3

We’ll send you demo access and our onboarding kit to help you decide what you need.

Step 4

You decide if we’re right for you. No pushy sales calls.

Step 5

Like what you see and hear? Let’s get you onboarded with Accord!

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