Managing a contract by expiration date is important for the following reasons
- You want to know if a contract is active
- You can start renegotiations in time
- You can cancel unnecessary contracts in time
- You can renew useful contracts in a timely manner
Contract Management eBook: How do you manage the end date of a contract for hotels?
What is this eBook about?
Why do so many hotel (chain)s have problems with it?
They work with Outlook, Excel or other registration software. If you then examine those programs carefully, you will come to the conclusion that they are not made for managing contracts at all.
You can state the end date of a contract somewhere in a list, but then you need a lot of discipline to view that list on a regular basis.
A timely e-mail to the responsible manager could have easily prevented a drama.
Use the correct software
Many hotel (chain)s mistakenly think that you can manage the end date of a contract by keeping a list in Excel or Outlook. But lists don't send notifications, quickly become outdated, can get lost and simply take too much time.
Contract Management Solution
That is why it is smart to find a Contract Management solution that sends a notification to the right person at the right time. This person must be able to access the contract information directly regardless of his location, which is why a cloud solution is recommended.