Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees. Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes that may arise during its implementation or execution. It can be summarized as the process of systematically and efficiently managing contract creation, execution, and analysis for the purpose of maximizing financial and operational performance and minimizing risk.
An effective document management and control system is a basic requirement for any organization seeking certification with ISO. Documentation control and management is a must to get and maintain ISO certification.
Anyone involved in ISO certification and quality management, knows that one of the most difficult tasks is building a mechanism in which procedure documents are managed and periodically reviewed. This can only be done with a robust document management software.
International Standards Organization (ISO) certification ISO 9001 is an internationally accredited form of business certification which recognizes companies for consistent quality improvements which contribute to increased performance and stakeholder value.
Research has suggested a positive correlation between ISO certification and greater efficiency, increased customer satisfaction, improved employee morale, increased profits and higher productivity. These are the same benefits that online document management can deliver.
Two primary components are required for ISO certification:
1. Control of Documents
2. Control of Records
ISO 9001 defines their general requirements as the ability of an organization to “establish, document, implement, and maintain a quality management system and continually improve its effectiveness in accordance with the requirements of this International Standard.” In layman’s terms a company must be able to demonstrate documented procedures for document control.
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