Manually managing purchase orders, bids, vendors, and contracts can be difficult. Processes that involve paying per solicitation can become extremely costly. Limited visibility leaves your organization with an imperfect pool of vendors. Hindrances such as an inadequate sourcing platform, an overly complicated procurement system database, and an inefficient contract lifecycle process can prevent your organization from properly administering its contracts. An effectual source-to-contract process is the solution to the abovementioned issues. CobbleStone Software’s Contract Insight can provide that solution.
(This blog was originally posted April 7, 2017. Updated April 30, 2018)
Procurement managers have their work cut out for them. Being responsible for making sure their organization gets the right product or service at the best price is a process. Trying to manage both e-procurement and acquisition duties can be quite stressful at times. For the procurement and acquisition process to proceed with minimal hiccups along the way, managers should evaluate whether or not their current methods are working. Should they find something isn't working right, this shouldn't be cause for alarm - finding the problem is the first step to fixing it.