3 Ways to Track Vendors: Take Control of Vendor Management

By Sean Heck on 06/12/20

When it comes to vendor management, efficiency and process unity are key.  A vendor management process that relies on disparate documents, spreadsheets, and emails for vendor key data, contract information, certificates of insurance, and performance data for vendor comparison may not cut it.  Such methods can leave organizations with a disorganized process that might lead to missed deadlines, failed compliance, insufficient payments, agreement breaches, and poor vendor selection.  Eliminate manual, time-consuming processes by successfully keeping track of what’s essential with vendor management software.  Here are three critical aspects of vendor management to track.

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Don't Get Left Behind: Adopt Contract Management Automation

By Sean Heck on 06/10/20

There is a significant need for automation in contract management software processes.  When collaborating within the contract management community, we often find that most organizations do not currently leverage meaningful automation for better contract management.  Yet, most organizations have developed or plan to develop strategies to implement contract automation.  It is clear to see that the industry is evolving in favor of contract automation.  Don't get left behind. Get ahead with robust and user-friendly contract management software.  Here's how.

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OFAC Search Made Easy with Contract Management Software

By Sean Heck on 05/22/20

Vendor, customer, and employee compliance management are essential for organizations to maintain adherence to compliance standards, mitigate risk, and uphold their reputation.  However, as contract volume grows, it can be difficult for organizations to track the records of vendors, customers, partners, and employees regularly.  To achieve and maintain compliance, it is paramount that organizations, regardless of industry, remain aware of violations committed by entities they are performing business with.  Such violations include failure to adhere to economic and trade sanctions under The Office of Foreign Assets Control (OFAC).  Contract management software with intelligent national sanction compliance checks and risk analysis snapshots can help organizations to avoid these issues by providing them with a comprehensive and centralized OFAC search process.

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