Contract Management Software: the Solution to the Problem of Coordination

Charles Petrie,Contract Management Software: the Solution to the Problem of Coordination Articles from Stanford, released a short article entitled “The Problem of Coordination,” which highlights 4 categories in which businesses find it difficult to connect:

Interoperability

Agent Communication

Semantic Unification

Coordination

Though this article refers to a 상조회사 해약 해지 specific type of business, its principles are just as applicable to any business, especially when collaborating on a contract. Contract collaboration and management is difficult in any business, and the negotiations can go on for weeks, months, or even years. In seeking to manage contract deliberations, organization of personnel, documents, and software can make or break a clean operation.

Using Petrie’s model, this article explores how the right contract management software is the solution to the problem of coordination.

Interoperability

Interoperability is defined by Petrie in the question “Can you read my data?” Search “contract management software” in Google, and in .44 seconds you will be introduced to millions of products indexed for your specific search-18,400,000 to be exact. The only problem is that they are not all compatible.

The most commonly used business software is MS office software, which coordinates email with other applications targeted toward common business needs: spreadsheets, word processing, presentations, etc. The problem cited by Petrie and applied to contract management is that businesses which work together need to have the right contract management software, which will aid collaboration within these commonly used business applications. The solution is surprisingly simple.