Why are supplier contracts always impossible to find when you need them? How many contracts are tacitly or automatically renewed every year? Contract Lifecycle Management (CLM) can take you an important step further towards complete transparency and control by effectively managing, monitoring and communicating supplier contracts. What’s more, you can be sure that you’re getting maximum value out of your contracts.
Why Contract Lifecycle Management is so important
The best Contract Lifecycle Management process for you
You spend a lot of time and energy negotiating the best possible contract terms and conditions with your suppliers. But in practice, are these agreements being used optimally by everyone in your organisation? And how do you prevent that some procurement still takes place outside contracts? Proactive Contract Lifecycle Management means you can effectively monitor, record and communicate supplier agreements in a timely manner, professionalising the way in which you create, manage and assess contracts. And, importantly, it encourages the use of up-to-date contract information within your organisation.
A best-in-class Contract Lifecycle Management process makes it easy to draft agreements (including by working with standard templates) and to modify terms and conditions. You can monitor contract agreements based on set criteria and notice periods. All relevant contract information will be transparent to the entire organisation, while you determine in advance which (business-sensitive) information you share with which employees. Because contract management is inextricably linked to the P2P process and preceding processes such as strategic procurement and supplier management, it is recommended that you integrate these processes. Only then will you be able to harness supplier agreements to maximum effect and will you get full insight into actual supplier performance.
You need expertise,
we have the experts
Whether you’re already well on your way or have only just started your digital transformation journey, we can fully support you at every stage, regardless of the technology you’re currently using. We design, implement and digitalise your Contract Lifecycle Management process, making sure that it works, and we’ll stay involved to make sure it keeps working.
Knowing the field like the back of our hand, we can tell you which technologies are on the market and which solution would best suit your needs.
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