Relational theory states that objects are only meaningful in relation to other objects. In source-to-pay and contract management, it means relations between people, organizations, tasks, data, documents, decisions, and so on.
Contracts, for instance. They’re a system of commitments with interrelational components that only have meaning in relation to each other. In the same way, they help define the relationship you have with your suppliers.
October was filled with other examples of relationships: processes to tools, goals to milestones, vision to success, to name a few. From a Determine Cloud Platform standpoint, relationships mean integration of data and processes; collaborative tools that put people on the same page; modularity that lets you add on solutions as needs dictate. In other words, we put relational theory into practical context you can use to empower success.
Speaking of relationships, learn how you can strengthen your supplier relationships in our upcoming webinar with PayStream Advisors – Strategic Supplier Relationships: Supplier management that reduces risk and improves bottom-line impact. Register soon!
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