Skip to content
LegalSifter merges with Contract Logix, a leader in data-driven contract management

    What is Contract Operations?

    Contract operations is a key, often overlooked, cross-functional business need that manages the entire lifecycle of an organization’s contracts from initiation and drafting to execution and renewal or termination. 

    This function is also responsible for managing the technology, workflows, and capacity necessary for efficient contract management. Contract operations sit in the white space between teams which means it often lacks funding and leadership. At LegalSifter, we recognize contract operations as a distinct function that most businesses don’t have but absolutely need.

    CONTACT US
    iStock-1343489358

    Why Organizations Need Contract Operations

    Contracts are the backbone of any business, involving numerous departments such as legal, sales, finance, and any function that purchases goods or services. Despite their importance, contracts are often “owned” by everyone yet effectively managed by no one. This leads to inefficiencies, increased risks, and missed opportunities.

    Effective contract operations give organizations:

    • An efficient option to quickly create, review, and negotiate safe contracts
    • Visibility of what’s in their contracts 
    • Predictable costs
    • Contract-specific AI, expertise, and people to create speed and quality in contracting 
    CONTRACT OPERATIONS FRAMEWORK

    18 Responsibilities of Effective Contract Operations

    Effective contract operations includes the specific work needed throughout the contract lifecycle, along with the operational support required to manage the people, processes, and technologies that keep everything running smoothly. This framework includes 18 key responsibilities that ensure efficiency, risk management, and strategic value in the management of contracts.

    Is your business managing contracts as efficiently as it could be? Download Unlocking Contract Operations: Why Your Business Can't Afford to Ignore It to learn more about the 18 responsibilities that can streamline your contract operations and reduce risk.

    effective contract operations Monopoly Version (1)

    You may also be interested in:

    understanding-contract-operations-1
    BLOG POST

    Understanding Contract Operations: The Intersection of Legal and All Other Business Functions

    read blog
    handshade contract3
    BLOG POST

    The 4 Cornerstones of Effective Contract Operations

    Read blog
    podcast
    PODCAST

    Revolutionizing Contract Management with Artificial Intelligence

    This podcast series dives deep into how artificial intelligence (AI) is transforming the complex and often daunting world of contract management.

    Listen to the podcast
    contact-us

    Discover smarter and more efficient contract management. Connect with us and see the difference LegalSifter makes for you.