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The GC as a Business Strategist

In the last post I mentioned that there are good reasons why GCs are increasingly getting involved with contract management. But the really interesting thing about this involvement is that it is actually resulting in a change in the GC role—and the transformation of contract management from a departmental solution to an enterprise service. With the awareness that they need to keep a close eye on contracts, GCs are realizing that their offices should have corporate management responsibility for the documents and their attachments. With contract management under their control, the next step for GCs is to leverage the storehouse of information that resides in contracts to both improve risk profiles and enhance business strategies. In other words, with control over contracts, the GC is well on the way to becoming a business strategist. From here it’s only a short hop, skip, and jump to having the GC office establish contract management as a centralized enterprise resource. After all, with the scalability and adaptability of contract management solutions, it only makes sense to have a single point of responsibility for the solution. GCs can then offer contract services to sales, procurement, HR etc., in the same way that PR and marketing services are offered across various departments in an enterprise. - Terry Nicholson

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