As colleges and universities deal with the reality of growing numbers of online classes and smaller campuses, contract management efficiency for higher education is critical. How should we embrace contract automation in higher education?
The current contract management processes in the higher education industry are riddled with repetitive manual tasks, resulting in delays and errors, leading to compliance and opportunity costs. Over the past decade, the volume and complexity of contracts in the higher education sector have increased dramatically, making it difficult to track and manage the contracts effectively. The problem compounds as due dates come and go, with the risk of penalties and fines for late payments, that may ultimately cause a cascading effect to create a less than ideal experience for your students leading them to opt for other institutions.
How can Higher Education Organizations reduce the gaps in the current contracting processes in order to better manage relationships with suppliers, vendors, partners, and students? How can the education sector optimize procurement efficiency, enhance visibility, and improve regulatory compliance? All these questions have one simple answer – a robust AI-powered contract management solution.
This eBook explains how an intelligent contract management system can instantly identify attributes across a variety of contracts—reducing processes that previously took a couple of hours at least, if not days, to down to just minutes.