allianceboard has always had the ability to track and manage contracts. Our latest series of releases make managing contracts even easier for alliance managers who often don’t have legal training.
Many companies still manage their alliance obligations on a spreadsheet. Managing your contracts via allianceboard enhances accessibility, collaboration, risk visibility, and data-driven decision-making.
Accessibility
With our dashboard, users can access a clear overview of all contracts with detailed information on how they relate to specific alliances and initiatives and add contract data into reports easily. This allows users to gain insights into obligations, risks, and performance, in the context of the entire alliance, ensuring comprehensive management and informed decision-making.
Collaboration
Partners and key stakeholders, with the right permissions, can directly access alliance contract information via the allianceboard contracts dashboard, including contract details, payments, and contacts.
Effective collaboration on key details such as contract milestones, key deliverables, and payments, ensuring transparency and building trust between partners.
Risk visibility
A key part of effective alliance management is ensuring clear visibility of risks across the entire alliance including contractual obligations. Clear identification and understanding of risks supports the creation of proactive mitigation strategies, minimizing missed contractual milestones and subsequent litigation.
Data-driven decision-making
Various types of contractual decisions are made to govern the partnership and manage the relationship between the involved organizations.
Contractual decisions such as establishing governance, setting terms & conditions, defining roles & responsibilities, determining performance metrics, protect interests, and ensure mutual success in the alliance. allianceboard makes this simpler by housing all the relevant data in one hub, speeding up decision making times, reducing delays, providing a framework for collaboration, and lowering the possibility of additional costs associated with delays.
Using allianceboard to effectively manage contracts supports alliance managers to ensure all parties' interests are protected, commitments are fulfilled, risks are mitigated, and the alliance operates smoothly within the agreed-upon parameters.
If you’d like to learn more about allianceboard or specifically the alliance contracts module, contact your account manager or email contact@allianceboard.com.