A degree in contract management teaches students about things like formal negotiations, project administration, term fulfillment and completion planning. Students understand the contract life cycle management process and the associated principal activities, so they can implement control mechanisms and quality assurance policies. These degrees often focus on contract law, business disciplines and government relations to help students learn how to create viable solutions to address contract life cycle management issues.
Sales Administration
Sales administrators provide strategic support to management teams in areas related to contract compliance. They are the gate keepers of all matters related to activities conducted and work performed under contracts. They make appropriate recommendations for rejections, revisions and resolutions. They manage the administrative aspects of contracts to ensure accurate, detailed and well-written documentation.
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They must protect the company’s interests and assets while simultaneously maintaining good relationships with the customers. Sales administrators draft, review and submit contracts for approval. They proofread all forms and documents for accuracy and legal compliance prior to signing. Sales administrators may conduct in-depth research to identify potential legal risks and provide sound solutions. They must maintain detailed and organized files by archiving and disseminating contract documents. They may coordinate with revenue cycle manager to handle insurance credentialing processes.
Contract Credentialing
Contract credential professionals are responsible for ensuring that vendors, workers and providers are properly licensed, certified and appointed. They primarily work in heavily licensed industries like finance and health care.
For example, a hospital-based credentialing manager will deny, grant and monitor professional privileges within the scope of established laws and standards. They ensure that employees are properly licensed and certified to meet legal and industry credentialing requirements. They may also ensure full compliance with applicable internal policies and procedures. They remind and direct employees to meet accreditation standards through re-certification processes and re-credentialing applications. They must ensure a timely and seamless flow of credential updates in order to maintain compliance expectations and reappointment deadlines. They are responsible for informing executives and management of any delays or deficiencies in obtaining necessary credentials, verification and documentation.
Contract Management
Contract management involves professionals who develop and maintain systems for the administration of legal agreements. They often represent their corporation to the government by ensuring compliance with mandates, regulations and company policy. They establish and maintain systems for tracking all contracts and agreements by conducting regular audits, establishing inventory databases and reviewing departmental progress.
Contract managers may answer to external funders, oversight agencies and executive managers. They periodically reviews contracts and agreements to validate services, ensure consistency and benchmark performance. Contract managers must maintain current knowledge of required contract terms, conditions and language. They may deal with budget reviews, programmatic terms, fiscal administrative, supporting documentation and database application systems.
Conclusion
A degree in contract management should be paired with appropriate skills and knowledge. For instance, job candidates should have good interpersonal, organizational and computational skills. They must have the ability to adhere to strict confidentiality guidelines and conduct themselves with the utmost integrity, discretion and sense of urgency. Readers can explore more administrative service careers here.
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