Do contracts apply to every sphere of business? It would appear so. Contracts are the DNA of business itself, intrinsic to the very concept of free-market capitalism. Janitorial companies use contracts to agree to supply cleaning services to offices, and aerospace corporations use contracts in their agreements to provide high-tech fighter jets to governments. In […]
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7 Key Skills Every Procurement Specialist Should Have
Technological advances are changing the role of procurement specialists. We cover 4 areas you should be developing as a purchasing specialist in 2020 to take fully advantage of these changes. What is a Procurement Specialist? Procurement vs purchasing… A procurement specialist is sometimes referred to as a purchasing manager. The person holding this position is […]
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Is AI Turbo-Charging the Role of Contract Manager?
People often mistake Artificial Intelligence (AI) for how Hollywood portrays it in movies. While AI is becoming more commonplace throughout businesses, AI is still highly misunderstood by professionals in the legal field – one of the industries slated to benefit the most from AI, particularly as it relates to contract data management. It’s time to […]
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How to Enhance Contract Performance with Customizable AI Processes
Customization is at the heart of AI and contract management automation. A contract repository that stores vital contract data is exponentially enhanced when backed up by a comprehensive reporting system crafted to a business’ specific requirements. AI contract management systems offer robust, user-friendly and customizable reports to seamlessly speed up the contracting process. Contracts harness key […]
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Procurement Contract Management Best Practices
There was a time when procurement wasn’t seen as its own distinct role. This used to be the process referred to as “purchasing.” Depending on the company, it was either handled by the executives or an administrator-level role. These days, procurement has come into its own as a professional field. A procurement manager represents the […]
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Digitizing the Contract Management Process
Why Contract Management Matters Effective contract management is essential to every business. As businesses continue to focus on maximizing efficiency and scalability while working with partners and employees who can be located anywhere in the world, business leaders are increasingly seeking reliable contract lifecycle management (CLM) solutions. Good contract management tools can minimize the work […]
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