At the IACCM Europe conference last July, two out of three participants said that their companies lacked a clear, consistent workflow for contracting. Meanwhile, there was wide variation among business units in how workflow was defined. Organizations with effective contract workflow management, however, are achieving superior business results through improved contract value, while those without it too often lose revenue and valuable cycle time during the contracting process.
It’s not news that enterprises are dealing with more contracts and more complexity than ever before. Increasing numbers of stakeholders have skin in the game and creating, executing, and managing contracts plays a crucial role in ensuring a company’s profitability. There are plenty of news stories about legal and financial risk involved when contracts are poorly managed.
It is the worst question Procurement ever faces. C’mon – you know that procurement savings question I’m talking about. That horrible, terrible question from Finance for which there is no good answer…
If Procurement worked so hard and saved all of this money, WHERE IS IT?
Terms like eSourcing, ePurchasing, and eProcurement that describe the electronic “source-to-pay” processes have been established for some time, probably a decade or more. But when they become interchangeable, or are used inconsistently within our industry, it makes understanding their differences and why they’re important confusing.
I am honored and proud to take the reigns as president and CEO of the company. A lot has happened. One thing for sure: our business is coming together.
For legal departments, technology, media, and telecommunications (TMT) regulations have become more complicated over the last several years. The TMT industry is a high-stakes field with a wide array of major players, including cable and satellite networks, social networks, film and television studios, and many others.