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Six contract terms that will bolster supply chain security
Why supply chain security is important? Supply chain security has never been more important to protect the flow of goods and resources. With supply chains more interconnected, and...
Cracking AI Contract Management Challenges
Artificial Intelligence (AI) is revolutionizing contract lifecycle management (CLM) by streamlining every stage of the contract lifecycle, from contract creation and negotiations to...
Why CFOs should not put cost targets at procurement
The role of a Chief Financial Officer (CFO) is crucial in managing the financial aspects of a company. When setting cost targets, it is important for CFOs to consider the overall...
Common Pitfalls in Post-Signature Contract Management
In The ROI of Contracting Excellence 2023 report, WorldCC and Deloitte revealed that businesses are experiencing an 8.6% erosion in contract value. This is positive news against the...
Contract managers are boringly average
Earlier this week I spoke about IT service and its impact on people and their business. Nothing new about this. I must have done it fifty times in the past five years. Usually for IT...
Why AI will dominate contract reviews: The next shift in legaltech
In recent years, industries across the spectrum have felt the transformative impact of artificial intelligence. The transportation sector, for instance, is on the brink of a...
5 Contract management risks: How they can destroy your business
It’s never a good idea to wait until a crisis makes you realize how faulty your contract management is. Indeed, with business comes many inherent risks. However, with a smart contract...
ESG in Procurement and Contracts
The growing importance of Environment, Safety and Governance (ESG) in future is compelling to implement ESG in procurement practices. However, it can a bit challenging to determine...
How to integrate ESG standards into your contract management
Sustainability and ESG have long since ceased to be trends that companies should merely pay attention to. Rather, corporations...