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7 reasons to take contract lifecycle management seriously

If you’re saying “huh?”, that’s not a good sign. Contract lifecycle management – similar in nature to software asset management and is, in fact, part of SAM – is the practice of managing a software license agreement contract from initiation through award to compliance and renewal. You need a good system in place to ensure that deliverables and milestones are reached based on contractual obligations. By having a solid process in place – whether you partner with an expert matter consultancy or manage it in-house – the objective is to mitigate risk and liability caused by non-compliance.

7 Reasons to implement a Contract Lifecycle Management program:

1- Leaving dollars on the table because you have not enforced the negotiated terms with your software vendor

2- Reducing costs and decreasing contract administration

3- Creating a proactive approach to understand your contractual assets to avoid litigation for non-compliance

4- Delivering greater value to your customers (both internal and external)

5- Saving expenditure dollars (short-term and long-term)

6- Significantly decrease wasted time searching for contracts, schedules and file notes

7- Changing the role of contract administrator to contract manager.

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Miro is a leading global provider of software asset management services, specializing in license management, audit advisory, negotiation tactics, support management, and cloud services. We help our clients maximize ROI on their software license investments, stay in compliance, and minimize the impact of audits. Miro's performance guarantee promises that our long-tenured, diverse, and passionate team of expert analysts provides insightful and actionable advice to help our clients achieve the best possible outcomes.

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