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The Unheralded Value of a Contract

The most important part of a contract is the data that it generates. If you take all that data from each contract, then aggregate, organize and analyze it, you will have critical insights into the overall effectiveness of your contracting process and the way you transact business.

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If you had to name the one most valuable aspect of a contract, what would that be? Often-heard responses include: “It’s the framework for managing the relationship”; “Revenue generation”; “Assurance of supply”; “a record for what has been agreed,” “My commission!”; or if you ask a lawyer, “It depends.”

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