Transportation companies operate in a deeply interconnected, global supply chain: A complex web bound by relationships and contracts with vendors, customers, and partners. The environment around this web has changed drastically in recent decades. This is due to factors like globalization, growth of eCommerce, increasing compliance complexities, and rising customer expectations for competitive rates and shipment visibility. Uncertainty and unplanned-for Black Swan events like the COVID-19 pandemic have highlighted the critical need for the supply chain to become more resilient, adaptive, and agile.
No one has control over the supply chain or changes in the market, but the digitalization of contract management and contracting processes are going to be essential to minimizing the risks within the unexpected. From streamlining contract management processes to managing policies, data-driven contract management empowers smarter decision-making. This enables your organization to reach into a deep knowledge of what’s in your contracts and ensure compliance across the contract lifecycle.
Learn more about how legal teams within the transportation sector can play an influential role in driving resilience through contract intelligence, helping to handle complex contractual obligations with:
• Integrations with ERP, CRM, and document management software to enables seamless collaboration
• Sourcing functionalities to obtain the best pricing and terms during negotiations
• Insights into past performance and negotiation metrics to save millions in leakages
• Advanced analytics to extract insights from enterprise and contractual data to improve decision making and increase visibility
• Risk profile assessments to determine the risk associated with suppliers, stores, and inventory
Download your complimentary copy of the Industry Perspective article today to gain more insights into:
1. How to build a contract-centric, resilient supply chain
2. How legal can benefit from and drive contract lifecycle management modernization
3. Strategies for gaining a competitive advantage with contract management software.