PROCUREMENT TECHNOLOGY
Contract management software ( CMS ) is a digital platform crafted to simplify the entire journey of contract lifecycles .
By automating processes like creation , negotiation and archival , it boosts productivity and minimises risks tied to manual operations .
This platform empowers organisations by streamlining operations , mitigating risks , promoting teamwork and offering up-to-the-minute insights into contract statuses . Essentially , a CMS stands as an indispensable asset for contemporary businesses aiming to refine their contract management strategies in today ’ s digital landscape .
Operating within the landscape of modern procurement , effective contract administration stands as a cornerstone for ensuring seamless functioning , mitigating risks and optimising partnerships . To navigate this dynamic scenario , organisations commonly turn to contract management software solutions .
Santosh Nair , GEP ’ s Chief Product Manager , and Shannon Kirk , Global Director of Legal Industry Solutions at Icertis about the value of CMS , including how AI and automation is reshaping its efficiency , keeping to sustainability conditions and focussing on strategic value .
How has contract management software transformed procurement ? Santosh and Shannon both believe in the value of a good CMS system , having experienced how they
“This comprehensive oversight helps protect organisations from regulatory risks and potential reputational damage ”
SHANNON KIRK GLOBAL DIRECTOR OF LEGAL INDUSTRY SOLUTIONS AT ICERTIS
100 July 2024