Cut business costs with contract change management software

In the midst of an economic downturn, businesses across the board are tightening their belts and cutting budgets to weather the storm. Frivolous spending is being curtailed as companies close their wallets to navigate through these challenging times.

In the construction industry, with the rising costs of labour, resources, materials, and logistics, being able to create savings through contract management is a saving grace for many.

How to reduce your business costs

To reduce operational costs from an administrative perspective, there are several strategies to consider:

Start with a comprehensive inventory analysis of SaaS apps and resources. Identify which apps are in use, their stakeholders, and their associated costs. This analysis helps forecast the ROI and assess the effectiveness of each software subscription.

Minimise costs by eliminating redundant tools with overlapping features among software applications.

Keep track of tool renewals and ensure the subscription price tier aligns with the expected usage.

Amid the challenges of the recession, a smooth contract process and cross-functional alignment are essential for surviving and thriving. A flexible Contract Change Management (CCM) software can be a valuable yet often overlooked secret weapon for the construction sector in achieving financial goals.

Construction contract change management software can help reduce your business’s costs

Contract Bee, introduced by Digital Beehive, enables operations teams to improve efficiency, streamline processes, and reduce operational costs associated with managing contracts. Contracts can be significant expenses for businesses and consume considerable employee time. By optimising the cost of contracts, businesses take a significant step towards reducing overall costs.

It is worth noting that contracts carry a substantial “face value,” representing the agreed-upon price between contracting parties. However, poor contract management can contribute to data breaches, non compliance and miscommunication, leading to significant financial consequences.

360° compliance
Contracts that need to be fully compliant or where adjudication might take place, escalating costs of legal reviews, and billable hours of external counsel, all cause delays in agreement processes. Unaddressed, these expenses can have long-term effects on the bottom line. Contract Bee can streamline the contract process, reducing costly errors and ensuring utter compliance.

With our easy to follow contract compliance score it is clear to both parties how well is contract currently managed and what registers require attention.

Your subscription. Your Control.
Contract Bee can cut business costs through it’s flexible subscriptions, you choose as and when you need it. Gone are the days of fixed terms and paying per user or per contract. Businesses who have previously experienced large construction contract management software bills due to a growing number of contracts or continuous changes can make substantial savings by making the switch to a pay as you build construction contract management method.

Our pricing is based on number of users the more users are added the lower price will be PUPM.

Flexibility is key
Moreover, the rise of innovative technology brings the potential for smart contracts. These self-serving and enforceable contracts can revolutionise contract management by reducing the need for manual intervention.

For any business in the construction industry, adopting a flexible contract change management software can prove to be a wise investment. It provides a centralised digital repository for storing contracts and supporting documentation.

Automate your contracting process

Contract Bee software streamlines and automates the contracting process, allowing for the creation and storage of approved contract formats, freeing up valuable resources. Automated workflows route contracts to the appropriate individuals and departments for editing, review, and approval.

Flexible contract change management software through Digital Beehive proves to be a valuable tool for all construction businesses. By optimising contract costs, streamlining processes, and leveraging data insights, Digital Beehive can help you weather the storm and meet financial goals.