oboloo Glossary

Contract Management

Contract Management

Contract management is the process of managing contracts throughout their lifecycle, from negotiation and signing to renewal and termination. It includes identifying and mitigating risks, maximizing value, and ensuring compliance with contractual terms.

The goal of contract management is to create relationships that are beneficial for both parties involved in the contract. This means getting the best possible value for goods or services, while also ensuring that both parties uphold their end of the bargain.

To achieve these goals, contract managers must have strong negotiation skills, as well as an understanding of legal and financial principles. They must also be able to effectively communicate with both internal and external stakeholders.

Want to find out more about oboloo?

Find out how oboloo can give you visibility and control over every part of your procurement process

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Menu

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

© 2023 oboloo Limited. All rights reserved. Republication or redistribution of oboloo content, including by framing or similar means, is prohibited without the prior written consent of oboloo Limited. oboloo, Be Supplier Smart and the oboloo logo are registered trademarks of oboloo Limited and its affiliated companies. Trademark numbers: UK00003466421 & UK00003575938 Company Number 12420854. ICO Reference Number: ZA764971

Skip to toolbar