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The Top Contract Management trends of 2022

World of Procurement blog

Over Christmas, I started thinking about the top Contract Management trends for 2022. One general observation I have of us Contract Managers is that there is a fantastic opportunity to become more closely aligned with our Legal colleagues. Additionally, there is a significant focus on certainty within contracts.

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4 smart technologies modernizing sourcing strategy

IBM Supply Chain Blog

For example, blockchain-backed contract management, when combined with automation, creates efficiencies and offers a high level of security. With cognitive intelligence in their toolbelts, sourcing teams can better understand and act on changes in the increasingly complex supplier market—as they happen.

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Let’s Get Digital: Introducing your Source-to-Pay Guide

ivalua

Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. ​ The Source-to-Pay process itself is quite broad but it covers most if not all the aspects of a procurement organization, at least from a process and technology perspective.

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Procurement Technology: 6 Solutions You Should Know In 2024

Pipefy

Because procurement teams provide critical insights to inform business strategy , identifying opportunities to cut costs is one of the most important ways they do this. Procurement teams also share crucial data and information that business leaders need in order to make choices, set strategy, and remain competitive.

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Leveling up from tools to systems: A holistic approach to third-party management

Spend Matters

From siloed tools to unified process orchestration Isolated tools that originally helped companies organize and track operations gave way to automated procurement systems, which are now beginning to be nudged out by specialized third-party platforms that create a unified experience for internal and external stakeholders.

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Procurement Tracking – Everything You Should Know

Procurement Tactics

Contract Management Contract Management is tracking the contractual lifecycle, including contract creation, renewal, and termination dates. Compliance with the agreed terms and conditions of a contract, as well as respect for the obligations arising from it, shall also be monitored.

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6 Procure-to-Pay Risks and Pains (and How to Solve Them)

Pipefy

Procurement risks occur wherever visibility and control are limited. Unoptimized P2P processes pose risks not only for procurement and accounts payable teams but also for the business as a whole. Purchases that evade compliance policies occur when visibility is limited by data or collaboration silos.

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