Contract Management Maturity | Contract management (CM) is being digitally transformed from a risk-centric legal document management framework to a value-centric commercial knowledge approach to modeling and managing commercial agreements more deeply and systematically across disparate enterprise systems. It puts enhanced contracts at the core of all value streams and infuses commercial intelligence into every process where significant value is flowing and risk is hiding. More »
Transforming Vendor Performance through Innovative Contract Management | Ardent Partners research has shown that procurement departments can save between 12% and 18% when they avoid maverick spending. But, managing contracts is about much more than compliance. Contracts are the glue that binds buyers and suppliers, ensuring that buyers maximize the value negotiated during the sourcing process and that suppliers deliver what they promised to provide. In 2020, new and innovative contract management strategies and technologies are changing the way procurement and contract teams can communicate, track, and collaborate with their vendors and directly transform vendor performance. This report looks at how procurement organizations can utilize innovative contract management strategies and solutions to improve internal operations, transform vendor performance, and impact the bottom line. More »
Achieving Broader Automation in Finance & Accounting (F&A) through Intelligent Document Processing (IDP) | Automation in business processes has been accelerating over the last several years, especially with enterprises leveraging Robotic Process Automation (RPA) to automate repetitive, transactional activities performed by employees – thereby bringing in significant cost savings and efficiency improvements. However, for some processes, particularly in the Finance and Accounting (F&A) function, the extent of automation achieved has been restricted by the limitations of RPA in processing unstructured data.
In this paper, we discuss the role of Intelligent Document Processing (IDP) in addressing this challenge, by extracting meaningful data from large volumes of semi-structured and unstructured documents through Artificial Intelligence (AI). In F&A, we examine the process efficiency improvements that can be achieved by the adoption of IDP, along with RPA, in processes that involve data extraction from documents such as invoices, orders, and expense receipts. More »
The emergence of the data-driven enterprise and its impact on supply chains | Data-driven companies differentiate themselves from their competition by using structured and unstructured data at the right time to drive right decision making or, better still, automated decision making. More »
6 Key Considerations to Future-Proof Your Outsourcing | With the impact of COVID-19 still threatening the economy, business leaders are facing pressure from every direction. An increase in long-term Work From Home (WFH) roles, the need for a business continuity plan (BCP) that is resilient across locations, the urgency of automation, and mounting cost pressures are enough to keep us tense and questioning our next move.
Everything is on the table – reevaluating your outsourcing portfolio and location strategy – to ensure the business is ready to withstand the future. More »
Intelligent process automation – shortening the downward curve | Enhancing your business operations with a digitally augmented workforce and automated, end-to-end processes can lead to a more resilient business that is fit and ready for the “next normal. More »