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.