In the intricate world of enterprise contracting, the relationship between legal and procurement teams has historically been complex, often characterized by differing perspectives and priorities. However, the evolving business landscape has underscored the importance of these teams working together more closely than ever before. The video “Forging a New Path: Legal and Procurement Collaboration” offers insightful perspectives on how legal and procurement can find common ground to effectively manage enterprise contracts, mitigate risks, and unlock growth.
Bridging the Gap Between Legal and Procurement:
The fireside chat features Cheryl M. Katz, Strategic Sourcing Director at Synovus, and is moderated by Tim Cummins, President of World Commerce & Contracting. Together, they delve into the evolving dynamics between legal and procurement teams, exploring strategies for fostering collaboration and understanding.
Key Insights on Legal and Procurement Collaboration:
- Understanding Mutual Goals: The discussion highlights the importance of recognizing the shared objectives of both teams, such as risk mitigation, cost efficiency, and supporting business growth.
- Communication and Transparency: Effective communication and transparency are identified as key factors in building trust and collaboration between legal and procurement teams.
- Leveraging Technology for Collaboration: The panelists explore how technology, including enterprise Contract Lifecycle Management (CLM) solutions, can facilitate better collaboration by streamlining processes and providing a unified view of contracts.
- Why “Forging a New Path: Legal and Procurement Collaboration” Is a Must-Watch:
This fireside chat is an invaluable resource for legal professionals, procurement leaders, and anyone interested in enhancing the synergy between these critical functions. By watching, you’ll:
- Gain insights into overcoming historical challenges and fostering a collaborative relationship between legal and procurement.
- Learn practical strategies for achieving mutual goals and driving business growth through effective contract management.
- Discover how technology can play a pivotal role in facilitating collaboration and improving contract lifecycle management.
