Across industries and in our global economy, procurement contracting has expanded significantly.  Procurement officers are tasked with sourcing and managing the acquisition of all goods and services for their company or government department, as well as authorizing and negotiating renewals and terms. This is a tall order with many variables and challenges to consider. So how can procurement officers keep everything straight and what tools can they use to make their job a bit easier?  ContractRoom offers the perfect solution for procurement professionals.  Below are a few ways that ContractRoom has transformed procurement contracting.

Legally speaking, contracts can be interpreted in vastly different ways. From verbal contracts, called express contracts, to implied and quasi contracts, project managers need to plan for all possibilities.

Most general counsel and procurement officers would probably agree that collaboration in contract negotiations is a challenge even when all parties are in the same room. So what happens in our virtual world where the new normal is that people are spread across multiple locations and time zones? What does virtual collaboration look like?

Request for Proposals (RFPs) are, more than anything else, opportunities: opportunities to partner with a new business, opportunities to show you capabilities, and, ultimately, opportunities to grow your business. In fact, without the ability to submit accurate and engaging RFPs, you lose the ability to be a successful business.

Last week we wrote about 3 of the ways the supply chain has changed in the last 20 years.  This week we continue this article series with a further 3 ways and consider what supply chain management will look like in the future.

The basic tenants of supply chain management have remained static throughout time and will not change in the foreseeable future: it will always involve the flow of goods, services, and information from the supplier all the way to the consumer. It will always rely on analysis to increase efficiency and quality. It will always thrive on innovation, logic, and logistics.

Most general counsel and procurement officers would probably agree that collaboration in contract negotiations is a challenge even when all parties are in the same room. So what happens in our virtual world where the new normal is that people are spread across multiple locations and time zones? What does virtual collaboration look like?

At ContractRoom, our mission is to make contracting easy and efficient. I recently came across an article by Cindy Cox in Inside Counsel about making the contracting process more efficient. The article, Contracting efficiency for your legal department in 3 easy steps, is a good read. And Cox’s advice dovetails perfectly with what ContractRoom offers.

Compliance simply isn’t fun for most people. Time consuming, tedious, confusing? YES… Fun? NO.

Have you ever uttered the words painless – or better yet, happy – and contracting in the same sentence? Probably not, and you wouldn’t be alone. Even the savviest business and legal minds know that getting to a signed contract is a tedious, friction-oriented process. Additionally, the legal landscape is constantly evolving, meaning that business owners, corporate execs and their legal counsel (GCs) need stay current with the regulatory environment as well as staying on top of current industry trends and emerging technologies. Sound painful?… Doesn’t have to be.