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The procurement department has identified the need for contract management automation, justified it to the management, selected the vendor and is now just a few days away from implementing the technology. So how can organizations ensure smooth implementation?
Letโs have a look at few best practices for contract management implementation.
- Creating an incentive plan for individuals who embrace the Contract Management process and deliver ROI.
- Documenting best practices and demonstrating how they can be facilitated by use of a Contractย Management Tool.
- Celebrating Success and ensuring it is replicated at every Procurement Group.
- Continuous Training till adoption is close to 100% andย in-house trainers have been certified.
- All the metadata fields should be considered for configuration, based on the objectives. Errors in metadata upload lead the tool to return improper results.
- Clear benefits of Contract management technology should be highlighted to all the users.
- Ensuring that Objectives and Key Result are well defined, especially KRA โs should be quantifiable.
- Sign-off from Key stake holders is key to avoid costly re-work.
Learn More: Zycus iContract Solution;
With increasing complexity in the business environment, procurement is looking to expand the use of technology for managing contracts. Automating the contracting process helps procurement attain maximum value ย out of the contract with less effort.
To read the earlier parts of the blog series, click here forย part 1,ย part 2,ย part 3ย &ย part 4.
