Transforming from Contract Management to Commercial Value Management (Part 2): Putting Contracts at the Core of Source-to-Pay [PRO]

supplier network

In the first installment of this series, we discussed how contract management was morphing from a document-centric risk transfer legal vehicle to a broader commercial value management (CVM) competency that helps businesses:

* Perform spend planning rather than spent analysis
* Gain earlier and deeper visibility into financial obligations rather than just using the general ledger
* Operationalizing risk management rather than just one-off (or high-level) efforts
* Integrating upstream strategic sourcing to downstream P2P (of course)
* Explicitly tying sourcing and contracts into supplier management

In this installment, we will dive a little deeper into how next-generation contract management helps facilitate the flow of value (and prevent “value leakage”) within the source-to-pay process, but also the broader swaths of enterprise processes where controlling the contracts means controlling the spend — and how finance and procurement groups can use this to their advantage.

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