Responsibilities of a Contract Manager

It has been noted that many people are puzzled when it comes to the role of a contact manager. Among contract managers themselves, there’s common belief that the title covers huge variations in job responsibilities. Therefore, it’s felt often that external hiring will be tough, if not impractical.

How big are those dissimilarities? In fact, research signifies that the main accountabilities of contract managers are very identical. Responsibilities of a contract manager include the following:

• Serve as the point of contract for consumers on contractual topics. Act as a contractual “middleman” amid organization workers & consumers, ensuring opportune review & approval or settlement of dissimilarities.

• On all standard & non-standard contracts, offer redlined references & often settle directly with consumers’ attorneys or buying staff until agreement has been reached.

• Sustain contractual documentations and records such as receipt & contract of entire contract messages, consumers contact info sheets, contractual variations, status reports & other documents for all assignments.

• As required, offer supervision on contract topics to project managers or other operational employees, comprising training to new project managers & other workers in contracting practices & procedures.

• Develop & execute procedures for contract management & administration in observance with company guidelines.

• Monitor agreement by organization workers with established measures. Recognize areas of recurring pressure.

• Work with finance and risk management department to synchronize contractual insurance needs.

• Wok with finance to make sure devotion to broader finance & risk needs such as profit recognition, pricing & discounting guidelines, export controls etc.

• Support marketing or product management to make sure organizations’ services and products are supplied with suitable, competitive terms & conditions.

• Make sure that signed contracts are conversed to all important parties to offer contract visibility & awareness, understanding to support execution.

• Make sure contract close-out, extension or renewal.

Contract Guardian is leading service provider of contract management software serving a wide range of industries such as healthcare, legal, finance, manufacturing, government and others. No matter whether you are looking for application for healthcare contract management or warehouse contract management, Contract Guardian is your one-stop solution.

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