It happens all of the time. Clients that audit their own invoices and manage their own contracts…spend wasted hours trying to sort out the fees and promo plans service providers offer. In the end (months l...
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The expansion of digital business, growth of cloud services, and increasing regulatory scrutiny of third-party vendor relationships are just a few factors placing a heightened focus on vendor risk management. B...
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MOST COMMON MISTAKES made by finance, legal, and contract management departments … Automatic Renewal Clauses (“ARCs”) or AUTORENEWALS can be golden for business. But for all their perks, ARCs are noto...
A team mentality must be brought to the contract development and negotiations phase. In too many companies, outsourcing contracts are left to purchasing, legal, and senior executives, then assigned to the manag...
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Vendor management is a repeatable, effective method for developing and monitoring third-party providers of goods and services. It is also a way to derive as much VALUE as possible from contracts and build mutua...
Vendor management is one of the most complex and sophisticated methods in the whole procurement process. It can seem simple when the number of vendors is small, but the complexity rockets “straight up” as the n...