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Business

Management Life Cycle & Its Importance In Enterprises

Businesses have been revolutionized with the usage of technology, and now have a direct link with the ‘life cycle’ of various management related functions. Traditional concepts of management within enterprises have been revisited and modified for enhanced efficiency in recent times.

A study performed on the optimization of revenues and savings found that technology driven management allow better decision making and mitigation of risks. One such avenue is contract life cycle management, and 65% of the reviewed companies reported that it had assisted in lessening exposure to financial and legal risk.