Icertis, a contract lifecycle management provider, announced findings this week that showed a shift of the importance of contract management from a “nice-to-have” to a “critical-to-have” technology for business functions during the COVID-19 disruption.
The pandemic and its subsequent disruption highlighted the importance of implementing a comprehensive contracting strategy with robust contract lifecycle management (CLM) solutions. Survey respondents from organizations that tie contract data to enterprise systems found that it increased insight across business functions by 64% and improved spend visibility by 61%, according to a press release.
“Today, contracts are seen as the beating heart of commerce, vital to managing business relationships throughout every part of the organization,” Bernadette Bulacan, Vice President of Icertis, said in the press release. “This year, it has become clear that focusing solely on CLM as an electronic repository isn’t enough. The COVID-19 pandemic proved real-time access to contract intelligence is a critical shock absorber to ensure businesses can manage risk and capitalize on opportunities, now and in the future.”
Robots help meet challenges of supply chains in the COVID-19 era
Robotics companies have begun positioning themselves as a solution for supply chains dealing with increased challenges from COVID-19, including e-commerce volume and social distancing requirements, according to Supply Chain Dive.
Logistics companies have released their pre-peak hiring announcements. UPS and Amazon plan to add 100,000 seasonal employees while FedEx wants to hire 70,000 holiday workers. Despite high unemployment, warehouse hiring can still be a struggle because of people’s unwillingness to work in close quarters during the pandemic, the article reported. Robots can improve productivity by double or triple the current capacity.
“We’ve always had a labor issue in staffing the warehouse,” said Locus Robotics CMO Karen Leavitt during a webinar Thursday. “But now that there is greater demand … even more labor is needed.”
Spend Matters’ analysts look at TalentNet, Agiloft, and procurement’s role beyond spend influence
This week, Spend Matters PRO analysts assessed solutions from TalentNet, a direct sourcing and brand-based talent acquisition solution, and Agiloft, a contract lifecycle management solution. Analysts also delved into spend under management and how procurement can do even more to help their businesses. Our PRO subscribers can read the full articles, but all readers can see the lengthy intros that frame the issues being discussed. This week:
Next week, we’ll conclude our three-part analysis of Agiloft by looking at its competitors and market landscape. Read more about a PRO membership.
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