A vendor agreement - an indispensable business contract - outlines the terms of the exchange of goods or services between a business and third-party vendors. This written agreement not only provides clarity of terms and conditions, but also protects both parties' interests. Here are the five essential elements every comprehensive vendor agreement should include for healthy vendor contract management, successful operations, streamlined contract lifecycle management, and increased ROI.
Healthy Vendor Contract Management - 4 Simple Steps
4 min read
We would venture to say that all businesses from various industries in the public and private sectors need vendors. Vendor relationships help power business processes. Vendors can provide supplies, services, maintenance, and raw materials for generating products. As such, it is important that organizations maintain business relationships with third-party vendors.
Unfortunately – as is the case with most things – there is a right and a wrong way to go about vendor management.
Contract and procurement teams need to sidestep spend leakage, detrimental terms, and soured vendor relationships. On the other hand, proper vendor contract management can set the stage for positive growth and opportunity realization. Here’s how.
7 Essential eSourcing Tools for 2023
7 min read
Utilizing manual sourcing methods - such as gathering item prices in spreadsheets, corresponding with prospective bidders individually via email, leveraging paper-based RFPs, and collecting numerous data separately from pontential suppliers - can cause you to face a time-consuming challenge in sourcing quality and cost saving goods or services. Without the proper tools, sourcing professionals within your procurement team could fail to determine formal bids, RFPs, budget allowances, stock levels, current contracts, and contingencies in purchase order releases. Fortunately, you can utilize the following seven essential eSourcing software tools for seamless source-to-contract management success.
Topics:
bids
solicitation
Vendor Contract Management
Vendor Management
eSourcing software
source-to-contract software
bid management
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CobbleStone Contract Insight® 17.11.0: Master New Tools to Enhance CLM
4 min read
CobbleStone Software's latest version – CobbleStone Contract Insight® Enterprise 17.11.0 – has come, introducing next-level CLM features and enhancements for you to master to bring your contract management software platform to the next level!
Topics:
contract authoring
Contract Data Extraction
Contract Insight
contract negotiation
contract security
contract writing
contract writing solution
e-sign
E-signatures
eSignature
Purchase Order Management
Purchase Order Module
Purchase Orders
purchasing
secure contracts
security
signatures
Vendor Contract Management
Vendor Management
vendors
Electronic Signature
electronic signatures
Document Collaboration
eSignatures
VISDOM AI
Contract Artificial Intelligence
Data Security
Contract Insight® Software Updates
Contract Management AI
AI-Powered Contract Management Software
AI-Based Contract Management
purchase order software
electronic signature software
IntelliSign
contract requests
legal requests
contract collaboration
Contract Intelligence
User Permissions
Vendor Registration
Vendor Registration Wizard
Vendor Gateway
concurrent editing
CobbleStone Contract Insight®
CobbleStone Vendor Management Software
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