Procurement is a critical function within any organization, responsible for the purchasing of goods and services from suppliers. To meet the evolving needs of organizations and to remain competitive, procurement must adopt new and innovative tools and technologies like Smart CLM to streamline processes, improve performance, and achieve organizational goals.  According to Mckinsey Research, Greater visibility into existing contracts can ...

As a Chief Financial Officer (CFO), managing contracts is a crucial part of your role. Ensuring that your company is meeting all of its contractual obligations and that contracts are renewed in a timely manner can be a daunting task, especially if you have a large volume of contracts to keep track of. CFOs are responsible to the Board of ...

Contract negotiation can be a complex and time-consuming process, but there are a few key strategies that can help ensure a successful outcome. Contracts often contain legal jargon and technical language that can be difficult for non-experts to understand, slowing the negotiation process. Additionally, contracts that involve multiple parties or stakeholders require coordination and agreement among all parties, which can ...

As the role of technology continues to evolve in the modern business landscape, it is increasingly important for CTOs and CIOs to stay at the forefront of digitization and prioritize the adoption and implementation of tools that can improve efficiency and drive growth. One type of tool that should be at the top of the list for CTOs and CIOs ...

Legal teams are constantly on the lookout for new tools to streamline their processes and make them more efficient. One tool that has garnered a lot of attention in recent weeks is ChatGPT, a natural language processing (NLP) tool that boasts more than a million users and is creating a new-found buzz in the legal fraternity due to its ability ...

Physical Legacy Contracts are a major issue for every enterprise around the globe. These physical documents are hard to keep track of and are spread across multiple repositories. Managing milestones, obligations & risks of all these contracts is a laborious manual task that can often lead to missed renewals or penalties. Digitize contracts for smooth contract management.  These days, most ...

Buy-side and sell-side contracts are some of the most common types of contracts businesses deal with on a daily basis. However, most people are still confused by the contents of each contract and what they mean for their business. Having a deeper understanding and knowing the difference between these contracts is imperative to draft stronger, compliant contracts and ensuring organization-wide ...

Inflation has hit multi-decade highs across the globe with the US CPI index rising over 8.3% in the last 12 months. Despite the continuous moderation of federal governments to curb inflation, commodity prices have skyrocketed and companies are facing the brunt of it. Companies are pulling multiple levers to manage margins eroded by rising oil and commodity prices, supply shortages, ...

Are you doing business with small enterprises? If so you may be at risk for non-compliance under the new UTC reform bill ...