The contracting process has always been a major point of discontent between procurement and legal functions within an organization. The goals of the legal department to achieve control and compliance often clash with procurement’s objectives to build collaborative relationships with suppliers. This has become extremely pronounced now, that procurement feels that it needs to become a strategic value contributor pushing the business performance of the organization rather than simply focusing on getting the lowest price.

This culture of collaborative contract management can be built using the right contract management technology, which can bring together the two functions and drive compliance and control while at the same time foster better supplier relationships, which in turn can deliver real savings with minimal risks to the supply chain.

This white paper takes an in-depth look at the reasons for the collaboration challenges between procurement and legal departments and the technology and process initiatives that can bridge these gaps.

Key Takeaways from our whitepaper ‘Collaborative Contract Management Knowledge Hub’:

• Different perspectives of Procurement and Legal teams
• Imperatives that demand improvement in the contracting process
• Approach towards better contract collaboration between legal and procurement
• Different stages in contract management process