How does one manage a contract at the end date by using Excel spreadsheets?

It is simpler to manage a contract by end date with a specially designed tool. Hundreds of thousands of organizations appear to have issues with contract management and incur additional costs (for example, think of unnecessarily extended contracts). What causes this issue? Why would managing a contract by an end date be difficult to master, for an individual, a team or an organization?

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Here is a piece of Contract Management history ...

Let's start at by looking at the origin of contracts. The cuneiform script. The first cuneiform script arose from the need of the Mesopotamian man to draw up contracts*. Contract are important and have been around for centuries. In the early period, contracts had to be securely stored after signing and stored in a safe. Today, we take inventory of contracts by using spreadsheets by noting expiration dates and key information, reducing our need to go to the locked file drawer every .

* From: Infoteur Varenna, dated 12-05-2010 Contracts in Mesopotamia

Fast forward to the present day... Due to the advent of the computer, managing contracts by end date became a consideration in the eighties of the last century, and also saving contracts gained importance. Everything started developing faster and faster, with software development playing a decisive role. The vast majority of professionals who wanted to monitor and control contracts by end date initially started with a spreadsheet.

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Excel Spreadsheets VS Contract Management Software

Registering dates in a spreadsheet is simple. It takes a very strong discipline to regularly maintain a spreadsheet in order to find out which contracts are going to expire on short notice. How could these end dates be managed?

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Registering contracts versus managing contracts

What is the primary starting point for managing a contract on an end date? It is hard to say. No one should have to search for any notice period or end date information. End dates of a contract should be a notification, not something to search. This feature is not available in a spreadsheet, so it requires “management” by end date. In essence, we do talk about “managing a notice period in a contract”. Access to the contract in question should be instant as well. It is not always be possible to save attachments in a spreadsheet, or saving a link in a network (which necessitates keeping track of the settings of that particular network). After receiving notification, logging into Mochadocs will allow someone to be directly connected to the contract including the appendices. It will be simple and quick. Bottom line, managing an end date in a spreadsheet is not always successful.

Please download the eBook in the series "The Small Book With Striking Solutions" - How to Manage the End Date of a Contract.

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