Digitizing the contracting process

From an unloved bystander to the star of the show, digitization of the contracting process is now a priority in more than 75% of organizations. Driven by the experiences of the pandemic, there is a new appreciation that contracts are much more than just words.

But where to begin and who will lead? The traditional challenges associated with contracting have not changed. It remains a multi-functional activity that depends on concerted action by a wide variety of stakeholders. A study being conducted by World Commerce & Contracting in partnership with KPMG reveals the consequences of this lack of clear ownership.

To participate in the survey and receive the report, visit https://iaccm.fra1.qualtrics.com/jfe/form/SV_dp4bhOnxEjVSNhA

Early results indicate that there is little consistency in where digitization initiatives are focusing or on who is sponsoring or leading them. In many cases, this is threatening the level of success – or indeed, whether there will be any sustainable improvement. From a practical point of view, digitization often needs to occur in bite-size chunks – but evidence suggests that it rarely succeeds if it is undertaken without first examining the entire process lifecycle and the data flows that occur within it.

It is the need for coherent and easily accessed data that is in most cases prompting the push to digitize. Many survey respondents believe that this need may mark a turning-point for the contracting process, resulting in the appointment of a more formal process owner with responsibility to ensure the quality and integrity of data flows and analytics.

Share your thoughts and experience at https://iaccm.fra1.qualtrics.com/jfe/form/SV_dp4bhOnxEjVSNhA