The contract management tools they offer also allow CFOs to share the contract burden. They can assign team members tasks such as tracking SLA accordance or achieving milestones by the provider and the organization itself. If at any point, these goals aren't met, CFOs can take immediate action.

In the end, taking this software-driven approach could help the business avoid money-pit contracts, have rock-solid provider delivery and response times, save on litigation and fines, and eliminate other damaging outcomes.