Just like we did in the X-emplification series, we’re going to continue with Contract Management as we tackle the generic questions that you should be asking every vendor, and the types of answers you should be expecting. 1. What do I have to do to get a good handle on how to make effective use […]
Contract Management is important. If you don’t acquire the goods and services at the negotiated prices, what was the point in spending all of that time coming up with the best award and negotiating the contract? However, as a colleague of mine once remarked, most of the “contract management” solutions on the market today don’t […]
Today I’d like to welcome back Eric Strovink of BIQ [acquired by Opera Solutions, rebranded ElectrifAI] to Sourcing Innovation. In this post, Eric tackles the contract management – spend analysis integration issue that the sales and marketing representatives of a number of suite vendors often make a lot of fuss about. If your company is […]
In our last post, we tackled the subject of Enterprise Contract (Lifecycle) Management. In this post, we are going to discuss Nextance (acquired by Versata Enterprises) – one of the more innovative players in the contract management space and one of the few players trying to tackle the breadth and depth of Enterprise Contract Management. […]
Contract Management (CM), sometimes known as Contract Lifecycle Management (CLM), can be simply defined as the management of contracts made with customers, vendors, or employees. (Wikipedia) From procurement’s perspective, contract management is the process of tracking contracts to determine who you should be ordering from, when, and at what price; and ensuring that your suppliers […]