Contract lifecycle management Archives - Page 3 of 4

Balanced scorecards Trakti Photo by Daria Nepriakhina on Unsplash

Implementing Contract’s Balanced Scorecards: How to Measure Contract Performance

on June 14, 2021

Implementing a contract’s balanced scorecards helps organizations address weaknesses and optimize contract management.

To survive in today’s environment, companies must be flexible, service-oriented, and cost-effective. Some organizations may believe they embody these factors but have not truly measured their performance even when they’re implementing contracts. Balanced scorecards are thus necessary to offer a systemic approach to enrich the performance of an organization.

Reading time. 4 minutes. Photo by Daria Nepriakhina on Unsplash

Contract Lifecycle Management adoption Trakti Photo by Severin Höin on Unsplash

Contract Lifecycle Management adoption: instructions for use

on June 14, 2021

Contract Lifecycle Management is not just about technology, even though it is fundamental to choose the best tool to solve your company’s need. On the contrary, CLM adoption is a collective process, in which the procurement organization, the IT department, and the legal team work together, sharing knowledge seamlessly.

The challenge is to identify the tool that better meets your company’s needs. Let’s see how to find it!

Reading time: 3 minutes. Photo by Severin Höin on Unsplash

Supplier Qualification and Onboarding: definitions and flows for a successful vendor management

on May 19, 2021

The COVID-19 pandemic is challenging procurement teams to rethink the whole Supplier Qualification and Onboarding process, with active suppliers adjusting how they work, and new suppliers bypassing the qualification process for initial onboarding to keep operation flowing.

However, the Supplier Qualification Management (SQM) is essential to mitigate all the risks connected to the onboarding process, which can seriously affect your business. That’s why in this article we are going to define what is Supplier Qualification and why you need to implement right the qualification for initial onboarding.

Reading time: 3 minutes. Photo by Piermanuele Sberni on Unsplash

How to align and automatically update CRM data with contract data

on May 18, 2021

When you think about how to align and automatically update CRM data with contract data, it’s important to consider the benefits of streamlining the entire contract process. Superior contract management solutions take advantage of customer relationship management (CRM) technology to deliver a client-focused service for your business.

Reading time: 3 minutes. Photo by Austin Distel on Unsplash

Smart procurement in the digital age: how procurement will look like in 2025

on February 22, 2021

How procurement is evolving over time and how procurement will evolve to smart procurement in the digital age?

As strategic sourcing becomes more predictive, transactional, data driven procurement is becoming more automated, and supplier relationship management is becoming more proactive. Smart procurement in the digital age need to be integrated through intelligent procurement operations that help companies reduce risk and scale to their growing needs.

Reading time: 4 minutes, Photo by Brett Jordan on Unsplash

Trakti Client Onboarding automation Jean Gerber

How to quickly activate client onboarding automation for your business

on February 1, 2021

When does your client get the first impression of your business? Let me answer for you: the real impression begins when the client has started to do business with you. In this crucial phase you must not fail or be caught unprepared.

Client onboarding automation is complex and must be performed in compliance with rules and regulations, maintaining control of processes, and protecting data and information.

Tempo di lettura: 3 minuti, Photo by Jean Gerber on Unsplash

Contract management software integration – The Future of Business

on January 12, 2021

Most modern vendor and contract management software solutions support workflow management. That’s nothing new. However, it’s time to start thinking beyond just data integration. What if we could find a way to implement easily contract management software integration? What if we could contract handle contract easily though different processes and applications? Giving vendors, customers and businesses the data at the point in time they need to actually make a decision by integrating it directly into the workflow.

As the business landscape becomes increasingly digitalized, it’s important to upgrade your technology and modernize your third-party risk management.

Tempo di lettura: 3 minuti, Photo by Bill Oxford on Unsplash

Contract lifecycle management