An area of great interest to me is applying technology to managing Contracts.
There are 2 basic types of software:
1) Repository: this is for storing contracts only. No fancy bells or whistles. At its most simplistic - a shared drive or even a shared filing shelf.
These applications do not provide easy reporting or search.
2) End to End Contract Management Software: these often fall within the procurement space and enable a contract manager to use the tool from Contract Request through Execution and beyond.
Often these can have full RFx capabilities. Electronic RFI, RFP, RFQ would be available as well as Reverse Auction functionality.
Using these tools bring the procurement team and the contract management(outsourcing) teams close together - pulling down any silo mentality.
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Operationalizing the Pocket Cube for Exact Purchasing Part III
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A few weeks ago, we not only told you that Exact Purchasing is a Pocket
Cube, but we broke it down and defined each octant for you, as well as
indicating w...
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