A CPOs Guide to Managing Buy-side Contracts with Lesser Risk, Greater Efficiency

As a CPO, how many times have you missed a contract termination deadline? How far you are able to keep a track of disparate pricing and payment terms? It is not at all easy to focus on value, not cost and yet manage buy-side contracts with lesser risks and greater efficiency.

Download this to learn:

  • How to enable buy-side decision-makers to gain actionable insights from their contracts?
  • How to build a world-class procurement organization by focusing on value, not cost?
  • What resources are useful to beat the odds to deliver exceptional results?

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    A contract management process that will guide the entire lifecycle of the contracts will ultimately make or break the organization. For overburdened vendor management and legal teams, handling hundreds of active vendor agreements can be a headache. 

    According to the World Commerce & Contracting Association, 50% of buy-side teams cite improving internal processes as one of their greatest challenges, and 37% cite operational workload.

    CPOs are responsible for guaranteeing the diversity of suppliers in terms of numbers and ensuring that supplies continue if a first-choice provider is unable to deliver the needed goods or services. Contract lifecycle management is not just filing documents anymore. The entire process entails understanding every aspect of a contract’s lifecycle to extract meaningful data insights. When we talk about buy-side contracts, in particular, their main focus is to improve spend visibility, minimize maverick spending, boost the visibility of suppliers, and enforce compliance. 

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