Within complex supply chains, a single company is typically both a buyer and a supplier, part of a broader web of strategic B2B relationships. With any new or changing relationship, contracts have to be written up and re-negotiated, a tedious process that can be costly, and yet ultimately, ineffective. That’s because when manual strategies are relied upon to negotiate and draw up B2B contractual agreements, the commitments each side make aren’t necessarily always enforced during the procure-to-pay process.
As a result, automation technology is looking to transform the role of the buyer-supplier contract, and according to Vivek Bharti, general manager of Product Management at Icertis, the industry is helping to shift the contract to the center of the procurement ecosystem. Read More
