Category: Titan CLM

Addendums are used to edit the terms of a contract so parties do not need to create a new one from scratch. The International Association for Contract and Commercial Management (IACCM) states that over 70% of contracts need addendums at some point in their lifecycle journey. It’s a natural process since project scopes often evolve, and business…

Wouldn’t you want to know whether the agreement you are entering into is legally enforceable? According to a study conducted by the International Association for Contract and Commercial Management (IACCM), 9% of contracts end in misunderstandings. The disputes between the parties in an agreement are due to the vague terms and conditions laid out in a contract’s…

After studying the topic of pre-contract documents, the Journal of Strategic Contracting and Negotiation found that companies using Memorandum of Understanding documents encounter 30% fewer disputes than those without. This statistic makes sense to us as the purpose of Memorandum of Understanding documents are to clearly communicate the expectations of working together on joint projects. These formal…

The Project Management Institute (PMI) conducted a study which found that 68% of high-performing companies create formal Statement of Work (SOW) documents. This exercise forms part of their common tasks in project management spaces. Interestingly, the study indicates that these companies are more likely to meet their project goals. Would you like to do the same? Follow…

It’s a formal, non-legally binding agreement between two or more entities. Within a Memorandum of Understanding (MOU) agreement, one can find the following information: According to MasterClass, up to 60% of private-sector businesses create MOU agreements in the partnership negotiation phase. This makes sense to us since MOU agreements provide precise details of each party’s responsibilities and…

To us, it’s a legal document that details an agreement about borrowed money between two parties. The one party is called the borrower, and their role is to repay the amount of money listed in the promissory note to the other party, known as the lender. The date on which the financial transaction takes place will also…

According to Harvard Business Review, businesses that have a formal sales process with pipeline stages, enjoy up to 28% in revenue growth. For this reason, businesses should strive to create detailed pipeline stages when they want to focus on boosting sales. If this is your time to create a sales pipeline and want to know more about…

More and more, we see modern day businesses use inside sales strategies and techniques for sales and marketing operations. As stated by Insidesales.com, a company website for an Enterprise Sales Engagement platform, 47% of businesses today engage in inside sales practices. So, if you are interested in joining this revolutionary movement and starting a career in Inside…

These are two important questions for any service delivery business. We cover these vital topics, as well as “What is a master service agreement used for?” in the article below. Although they are used across various industries, if you work in the IT field, it’s even more essential to understand the importance of MSAs. As stated by…

Clear communication between teams and departments is crucial for running a business well. When team members have a seamless way of sharing ideas with each other, the business is able to innovate and stay ahead of the tech curve. Increasing the amount of communication between team members also makes giving feedback on services and products easier so…