Poor Contract Management
Poor contract management is one of the leading areas of loss for many businesses, often equating to as much as 9% of their total income. Because it is such an important facet of any business, mitigating the problems that come with mismanaged or neglected contracts is important.
Contracts are unavoidable if you want to maintain a successful business. From purchasing needed products to selling your completed products or services, formal contracts that have been written out will generally be used for any agreements that you make.