Contract Insights

As we celebrate Procurement Month this March, it is the perfect opportunity to look ahead and explore the future of eProcurement. In 2025, the landscape will be marked by solutions that are efficient yet resilient, simple, and adaptable. Leading providers are already at the forefront with eProcurement software designed to meet these shifting demands.

Procurement departments can encounter procurement workflow inefficiencies without the proper procure-to-pay tools – especially when implementing inefficient and disjointed contract management processes throughout parts of the procurement process.  You can avoid risk, unreasonable vendor pricing, and vendor non-compliance by leveraging contract management processes in procurement that centralize processes, technology, and people.  Read on to discover how you can implement effective contract management in procurement that results in maximized collaboration of various roles and responsibilities, managing cost effectively, and more fruitful business relationships.

Ineffectual procurement strategy can lead to elevated risk, dark purchasing, supplier issues, data inaccuracies, and a drawn out purchasing cycle or procurement cycle.  March is procurement month, so organizations should seek new ways to innovate the fulfillment of purchasing goals.  So stop wasting time, squandering opportunities, and mismanaging resources with a disjointed and inefficient procurement process.  March into national procurement month with your eyes open for these, the best procurement software features for your processes.

The procurement process is a many-feathered bird that leaves a lot of opportunity for success. However – just as your organization can succeed on many fronts – so too can your team face common procurement challenges. Such challenges can result in costly pay-per-solicitation, limited outreach, redundant data entry, and association with vendors that can harm your organization with procurement fraud, scandals, product failure, and failure to deliver what was promised.

Thankfully, you can avoid these procurement pitfalls. Beware of these three procurement situations that can lead your organization down a bumpy road.