Stuck in a bad contract? Missing out on possible negotiations? Getting the wrong supplier? These are a few of the weapons that dent the armor of procurement professional. With the changing…
According to the recent Pulse of Procurement Report,“ Companies with leading edge contract management solutions in place have saved, on average, eight percentage points more than those with behind-the-curve contract management solutions. For a $1 billion company with $500…
In our previous blog on Contract Lifecycle Bottlenecks & How to Curb Them: Part I, we discussed the challenges that can drown an organization’s contract process.
In the previous blog we discussed the significance of contract governance and the need to have an effective contracting process that monitors the contract throughout its entire life cycle.
The contracting process has always been a major point of discontent between procurement and legal functions within an organization. Part 1 of this 2 part series provides a brief overview into the reasons for the collaboration…
Organizations are moving towards an integrated system away from loosely coupled heterogeneous approaches. But the question comes that what are the factors that drive procurement more towards an integrated approach?
An American businessman Philip Crosby wrote what was to become a famous quote: “Slowness to change usually means fear of the new”. Though the quote has a satirical tone, it stands true even today.
It is often perceived that an organization’s sales and marketing are major contributors to its bottom line, however contract administration has an equally crucial impact on the organization’s performance.
