Stakeholder

A Stakeholder is any individual or group in an organisation that has an interest in the operation, use of or outcomes resulting from a Contract.

Contract management software allows multiple stakeholders to work collaboratively by: 

• Giving them a single location to store contract, communications and a history of actions
• Creating workflows that can only be progressed when stakeholders complete actions they are accountable for
• Allowing them to automate manual processes such as contract administration and onboarding vendors 
• Setting automated notifications when a contract requires their attention.