Contract management not a priority at European enterprises
- Contract management – the operational area responsible for organisational issues and processes related to contracts – is still insufficient in European companies.
- This was shown in a recent cross-industry survey conducted by management- and technology consultancy BearingPoint (www.bearingpoint.com) among more than 100 European enterprises from 18 different countries.
- According to the survey, only eight per cent of the companies questioned regard their contract management as best practice.
- The main reasons for the poor results are weaknesses in organisation and processes: only nine per cent of enterprises completely operate contract management centrally. Half of the companies have no key department at all for any contract management tasks.