Evisort E-book: Legal, Contracts, and You: Relationship Management for Procurement and Finance Pros
The relationship that legal, procurement, and finance teams share is no stranger to conflict. Procurement is frustrated with legal because they can’t get in front of their contracts to negotiate better deals. Finance is frustrated with procurement because they’re losing opportunities to bring in more money. Legal is frustrated with the pressure to provide insights their partners need at the drop of a hat.
At the root of the conflict is knowledge: knowledge of what’s in their contracts, how this knowledge is accessed, and where this knowledge is used.
So how can these departments resolve conflict? To borrow the advice of a marriage expert, we might conclude that the way legal, procurement, and finance teams can “learn how to love each other better” is by understanding and meeting their individual and mutual goals.
The Opportunity of Contract Intelligence
Contracts are the lifeblood of a business. And yet, there’s been no simple way of knowing what’s in a company’s contracts, because there’s been no reliable system of record to manage the paperwork behind the platforms built for procurement, finance, sales, and other business departments.
Digital contracting can be an efficient and harmonious process. The question is, how do you get there? If you’re frustrated with the pace of contract drafting, review, or negotiation at your organization, this guide will prepare you to take an active role in driving cultural change alongside migration to a contract intelligence platform.
When legal, procurement, and finance departments come together, they can accelerate their businesses contracting practices and transform themselves into an agile, accountable team in business success.