They handle full portfolios of contracts that range from pending to finalized to executed and work with numerous departments within the company to attain final approval – that’s no small numbers of important negotiations to keep tabs on. One mistake can seriously jeopardize progress, costs and projects.
So why would a sourcing manager rely on email or spreadsheets to handle such an important task? Manual processes = more risks.
With the right software, a sourcing manager can gain greater visibility into a contract portfolio which means:
– Enhanced insight into total time for approval
– Iron-clad audit trains to support compliance
– Establishment of a proven process to manage risk
– On-demand status reports of all outstanding contracts
Here’s how one sourcing manager accomplished this.