When a contract has been satisfactorily fulfilled, it’s time to renew it. Doing so allows organizations to make sure workflow isn’t interrupted. It also ensures you can carry on working with the right people to meet your organization’s go. Renewal is the last stage in a contract’s life cycle. Approaching and managing it properly is just as important as every other stage in the process.

Missing out on a contract renewal can cause all kinds of problems. It could lead you to finding yourself without vital services or payment. This can undermine business relationships. And it can damage a brand’s reputation. Understanding what contract renewal is, its part in the contract life cycle, and how to prepare for it will help you make sure you don’t miss out. And understanding that renewal presents opportunities beyond a simple continuation of services will reveal why it’s so important.

By the end of this course, you’ll be able to:

• Define contract renewal and its part in the contract life cycle
• Recognize the opportunities that contract renewal presents
• Describe how to prepare to renew contracts

Why take this course?

Everyone who works with contracts needs to understand contract renewal. This course will help you do just that. And it’ll show why it’s important and how to prepare to renew. Because, even though contract renewal represents the end of a contract, it also represents new beginnings. That’s why it’s important to re-start on the right foot.

15 mins | SCORM | Takeaway Tasks