What is Ineffective Contract Management Costing Your Organization?

Contracts

By: Tara Ann Neville

This is part 2 of a 3-blog series discussing the key lessons we learned at the NIGP 2016 Forum. If you missed Part 1 – Reverse Auctions—Who, When & What., please click HERE. Today we share the second lesson we learned and our final blog in the 3-blog series will feature the final lesson we learned and offer further reading on the topic.

Lesson 2: Best-in-Class Organizations Automate Contracting.

In business, there are two types of organizations: those that automate and those that need to. You’d be hard pressed to find a best-in-class organization that does not automate contracting. Strong sourcing and procurement departments appreciate the significant savings through the automated management of supplier relationships and count on the improved workflow to reduce errors and minimize contract negotiation time. Check out the CIO.com article How to stop making costly IT contract mistakes which discusses how to reduce costly mistakes made by manual processes.

Still processing contracts manually? How can you afford not to find the Perfect solution to streamline your Contract Lifecycle Management? Join in on the discussion on our social media channels LinkedIn & Twitter and follow this 3-part series on our Perfect Blog.

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