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Contract lifecycle management (CLM) providers may be best known for their repositories, clause libraries, obligation management features and authoring. However, risk is a major element of the contract lifecycle. The post How contract management solutions support risk management appeared first on Spend Matters.
The contract markup (also known as contract redlining) market has been in an unpredictable situation in recent years. These providers, which solely focus on automated or semi-automated contract markup, often sell to procurement and legal departments and promise greatly expedited contract review times.
This Spend Matters Vendor Analysis provides an overview of Docusign and its enterprise contract lifecycle management (CLM) solution. Throughout 2024, it also built upon its core CLM functionalities (such as contract authoring) to support advanced use cases and more additions are planned in this area. This content is for members only.
This Spend Matters Vendor Analysis provides an overview of ContractSafe and its contract lifecycle management (CLM) solution. ContractSafe focuses on ease of use and attacking common contract management pain points, such as lack of visibility, poor organization and lengthy/expensive implementations. This content is for members only.
The high-tech and telecom sectors face a contract management crisis if the process isn’t managed properly. Continual technological changes necessitate adjustments to manufacturing and supply chain processes, leading to a heavy volume of contracts that outpaces most industries. What can CPOs do to ease the contract management burden?
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter Choosing a Contract Management Tool Choosing a contract management tool is crucial for your business as you need to select what suits your company the best. Contract Management: What is it?
Ivalua, a global leader in spend management , today announced that Tchibo, one of the largest coffee roasters in the world, has chosen Ivalua and its partner Capgemini to digitize Source-to-Contract (S2C) for its indirect purchasing of goods and services. Founded in 1949, the company today has a turnover of €3.2 ivalua.com.
This Spend Matters Vendor Analysis provides an overview of Intellyse and its solution for logistics and contract negotiation. Many organizations struggle to find the time and resources needed to thoroughly analyze the contract offers they receive. Contracts often come in various formats, each with its own set of complex stipulations.
Many businesses start their contract management journey with a familiar friend: the humble spreadsheet. Lets face it, as your contract volume grows and the need for efficient tracking, reminders, and collaboration intensifies, those once-reliable spreadsheets can quickly become sources of frustration and strain.
The advisory explores how leading companies are: Accelerating supply chain flexibility with “China-Plus-One” and regional diversification strategies Shifting risk through outsourced supply chain financing and operations Embedding tariff contingencies into supplier contracts and cost models Read the report for strategies to protect your supply chain (..)
Still storing contracts in a shared drive or tracking them in a spreadsheet? We know managing contracts manually can feel like a never-ending juggling act--one wrong move, and you risk missing deadlines or compliance issues. The thing is, contracts are the backbone of your business, and keeping them organized shouldn't be this hard.
Given the unusual levels of uncertainty in the global economy, breaches of contracts are becoming an ever more common part of life in many supply chains.
This post will show you how a contract management solution can help you organize and track your contracts so you can reduce regulatory risk (and maybe get a bit more sleep at night). If you're in the finance world--whether it's banking, lending or investment--you already know compliance is no joke. SOX, Dodd-Frank, FINRA, GLBA, UDAAP.
In response to these challenges, a leading heavy equipment manufacturer selected GEP to redesign its source-to-contract processes and implement a convergent data model to help manage procurement data across its multiple locations.
As a potential May 22 strike nears, the carrier said halting negotiations with the Canadian Union of Postal Workers will allow it to prepare more effective proposals.
Additionally, it can model and marry a variety of data alongside the spend, from contracts to risk. To potential buyers — SpendHQ has over a decade of experience in spend analytics and procurement performance management and brings a breadth of analytics not only in spend but in related areas such as contracts, risk and carbon emissions.
Meanwhile, AI-driven optical character recognition (OCR) and metadata extraction transform scanned invoices and contracts into structured, searchable data, ensuring vital information is always visible. These quick wins set the stage for more advanced AI applications, proving that AI implementation doesnt have to be daunting and expensive.
To learn how exactly autonomous AI agents will transform source-to-contract and procure-to-pay, read this whitepaper now. They integrate reasoning with LLM inputs so that employees can provide directions in natural language and the agents will pull data and interact directly through internal systems and external stakeholders.
Lack of visibility into budgets and contracts: Without real-time tracking, procurement teams risk exceeding budget allocations and violating contract terms. Integrate procurement with budgeting and contract compliance: Ensure purchases are validated against financial plans and existing contract terms in real-time.
Many spend analytics vendors apply that analytical expertise elsewhere, such as contracts, carbon emissions or supplier performance. Spend analytics vendors do what their name implies: they derive insights from spend data. However, that is not all they are capable of doing.
For the third piece of tech, a contract management system, the Legal Department was a strong ally. It has completely changed our end-to-end enterprise contracting process. The team launched many new sourcing opportunities and engaged with stakeholders in different ways resulting in other positive impacts for the company.
The event included several new product announcements as well as company updates following Docusigns major announcement at last years event, the advent of a new contract management category called Intelligent Agreement Management (IAM) designed for wider organizational appeal beyond just procurement and legal departments.
Speaker: Ryan Dillard, Chief of Staff Director at CBIZ ARC Consulting LLC; Kelly Hicks, Global Controller at Airbase
ASC 606 is the revenue recognition standard that sets global accounting principles for all private or public companies that enter sales agreements or contracts with customers. Along with ASC 606, ASC 340-40 was added to address accounting costs to obtain a contact and costs to fulfill a contract.
The days of relying solely on traditional processes to manage suppliers, contracts and spend are quickly fading. Optical character recognition (OCR) digitizes invoices and contracts, eliminating time-consuming manual data entry. Procurement is at a crossroads. AI does more than just improve efficiency.
Consider which projects or contracts require a plan B. In first instance you need to get your procurement house in order to deliver projects on time but once a contract is awarded you can work with stakeholders to track project delivery, whether if these are delivered to the agreed timescales.
Understanding when and how to leverage real-time, spot, contract and dedicated procurement—depending on business needs and the state of the market—will be vital to navigating supply chain volatility.
It emphasizes the need for fair competition among suppliers and aims to eliminate corrupt practices that have historically plagued government contracts. Additionally, this shift is indicative of a broader trend towards responsible purchasing, aligning government contracts with societal values and aspirations.
Apple supplier Luxshare reportedly win contract to produce iPhones The share price of Luxshare Precision, a Chinese manufacturing company for Apple, has rose more than 3%, after reports of a…
Final Deal: The first contract was issued in January 2014. The contract was reissued in April 2014. After that, the contract was awarded in July 2014. . Final Deal: The contracts awarded in June 2016 are worth approximately $455,000 for towels and washcloths and $1.46 million for overalls.
CEVA Logistics, a global leader in third-party logistics, was contracted to help a technology company manage its complex supply chain, supporting B2B, B2C, and reverse flows across multi-leg transport.
It covers the following: Suites Supplier management solutions (with enhanced risk capabilities) TPRM solutions SCRM solutions Contract (risk) management solutions GRC solutions Risk information and content originators This content is for members only. Visit the site and log in/register to read.
Contract management ChatGPT can provide assistance to procurement professionals by assisting them in managing their contracts by providing information on the contract terms and conditions. It can also assist you in handling disputes with suppliers and answer your questions about contract renewals.
Both public and private institutions have procurement provisions requiring competitive bidding before awarding contracts to suppliers. Direct procurement happens when an entity invites a sole entity to supply goods and services without being subjected to a competitive process. The first scenario would be […].
Speaker: Eric Berdinis, Ran Sun, & Chris Chmielewski
If you’re frustrated with the complex and manual processes for obtaining bids for your contract and spot freight, you’re not alone. Procuring freight can be cumbersome, time-consuming, and error-prone. In today’s fast-moving supply chain environment, optimizing these processes is critical to staying competitive and cutting costs.
Inflationary pressures can cause frustration levels among suppliers due to increased costs or reduced demand from customers, particularly when it comes to repeated orders or fixed pricing contracts. This could include negotiating more favorable terms with suppliers or renegotiating existing contracts to ensure that prices remain competitive.
Example of a Metaprise in ProcureTech: A large enterprise connects multiple ERP systems, supplier networks, contract management tools, and risk assessment platforms into one AI-driven ecosystem that autonomously negotiates, optimizes spend, and ensures compliance. sourcing, supplier onboarding, contract approvals).
Spendflos State of SaaS Procurement 2025 report analyzed tens of thousands of SaaS contracts and surveyed finance and procurement leaders across the US and UK to understand how SaaS is being bought and used by organizations. To understand this shift, we dug deep. It gets worse. This signals a fundamental issue.
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