When sourcing ends – contract management begins. It guides procurement through purchasing of the commodities and/or services at the negotiated prices, agreed upon service levels, and any concession or commitments made by the supplier.
With multiple contracts at different locations, technology helps procurement manage contracts effectively. Combined with in-depth analysis and reporting capabilities, contracting technology can deliver real value to the organization by ensuring better contract compliance.
Best-in-class organizations, that leverage contract life-cycle management solutions, identify opportunities for savings and prevent inefficiencies.
Read this whitepaper to uncover the different facets of contract management technology.