PROCUREMENT TECHNOLOGY
Resource Planning ( ERP ) systems stand out as formidable tools , each serving unique functions . Nonetheless , merging a CMS into an ERP ecosystem offers a holistic solution , blending content management prowess with extensive enterprise management features .
Shannon highlights the strategic value of contract data as a source of insights for innovation and decision-making : “ By connecting millions of contracts and infusing their data into core operations , enterprises can create rich pools of AI-powered insights to inform better decision-making and speed the pace of business .”
Integration ensures there is compliance , Shantosh adds : “ Because ERPs are the main system for all financial transactions , it is essential to integrate CMS to ensure that the correct commercial terms and operational SLAs are connected to daily transactions .”
Demands from increased sustainability considerations When it comes to sustainability in procurement , Shantosh and Shannon both highlight CMS as playing a crucial role in ensuring compliance with ESG standards and facilitating sustainable practices across supply chains .
106 July 2024