Interest in contract lifecycle management (CLM) software is surging in the wake of last year’s unprecedented disruptions, which exposed how critical real-time access to contract data should effectively respond to emerging risks and opportunities.
Many supply chains still rely on linear strategies to manage their supply chains, resulting in poor planning, excess inventory, a lack of transparency into order status, and, ultimately, reduced sales and margins.
COVID-19, along with its direct impacts (lockdowns, border closures, etc.), has sent a domino effect of related disruption, including supply shortages and financial distress – but these aren’t the only threats in town.
The digital integration of supply chains that historically have relied on manual processes is key to integrating modern-day business functions, both within the organization and externally with customers, suppliers, and partners.