Chapter 12 of the textbook details the phases that AT&T followed to add value to

Question

Chapter 12 of the textbook details the phases that AT&T followed to add value to its contract management process. Some companies have used a similar process to add value to their contract management processes and other companies have taken different approaches to adding value to their contract management processes with varying degrees of success.

For this assignment, search the CSU Online Library and the Internet for two examples of companies that have tried to add value to their contract management processes. In a three-page paper, describe the details of the approaches those companies have taken to add value to their contract management processes and evaluate the successes of those two companies in adding value to their contract management processes, considering both the value added to the companies and the value added to their customers’ experiences.

You must support your responses to the required statements above with facts from a minimum of three sources. Use correct APA formatting when writing your paper, including in-text citations and references

Explanation / Answer

Elements of successful contract management

Organization should have professionals in place to handle contract management. Employees must be made familiar with the presence of processes and software companions to satisfy increasing compliance and analytical  requirements When a contract management strategy is successfully implemented, organizations can expect to see:

Please find and example of a company that brought about effective contract management

ConocoPhillips, the $62 billion global energy company, streamlined and built a more effective contract management process by leveraging IBM Emptoris Contract Management.

ConoccoPhillips depended heavily on its contractual relationships, but could not effectively manage those contracts in order to effectively measure and minimize the related risk.The company decided to undertake an effort to transform their global contract management processes using technology as a backbone. The end result was that overall contracting efficiency and effectiveness overall quality  improved and  risks could  be better mitigated . Steps that involved bringing about  changes in contract management were

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