Contract Management & Contract Administration: What's the Difference?

At Dock 365, we understand the importance of efficient and effective contract management for businesses of all sizes. That's why we've developed an all-in-one contract management software built on Microsoft 365. Our platform, Dock 365 Contract Management, is designed to make the entire contract process effortless for businesses and legal professionals. One common question we receive is: what is the difference between contract management and contract administration? While these terms are often used interchangeably, they refer to distinct activities in the contract lifecycle. Contract management involves the creation, negotiation, and execution of contracts, while contract administration is focused on maintaining and monitoring contracts after they have been signed. Both contract management and contract administration are essential for ensuring smooth and successful operations within your organization. With Dock 365 Contract Management, you can streamline both processes through collaborative tools, automated workflows, and constant visibility into your contract lifecycle. Our system is fully integrated with Microsoft 365, making it easy to manage contracts alongside other important business documents.