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Webinar Overview
Procurement’s role no longer simply involves saving money but ensuring the business can grow and stay alive. Watch this insightful presentation to understand the key areas procurement leaders must focus on to future-proof their organizations and discover how AI contract management technology can help.
Watch on-demand below.
Taking Procurement Beyond Cost Savings with Modern CLM Technology
Speakers
Nedi Telvi
SVP and Chief Procurement Officer, ADP
Ajay Agrawal
Founder and CEO, Sirion
The Highlights
As a result of the COVID-19 pandemic, procurement teams face new challenges and opportunities. The need for agility, efficiency, and strategic foresight in procurement has never been more critical. AI in Contract Lifecycle Management is at the forefront of enabling these teams to navigate the complexities of modern procurement.
Here’s what we learned in this conversation between Sirion CEO Ajay Agrawal and Nedi Telvi, SVP & CPO at ADP.
Elevating Procurement’s Role
The pandemic shifted procurement’s role from a back-office function to an organization’s strategic partner. AI-powered CLM plays a crucial role in this transformation by providing data and insights that support strategic decision-making and demonstrate procurement’s value beyond cost savings.
Enhancing Supply Chain Resilience
Visibility and proactive management are essential for supply chain resilience. AI-powered CLM systems offer real-time data and analytics, enabling procurement teams to anticipate disruptions, manage risks, and ensure continuity in supply chains.
Facilitating Agile Contract Management
It’s vital to quickly renegotiate and amend contracts in response to emerging risks. AI-powered CLM offers the agility needed by automating contract management processes, ensuring that contracts are aligned with current business needs and compliance requirements.
Improving Supplier Relationships
CLMs foster better supplier relationships through efficient, transparent, and collaborative contract management processes. It enables continuous dialogue and partnership, moving beyond transactional interactions to strategic collaborations that drive mutual value and innovation.
Driving Digital Transformation
A CLM is not just a tool for efficiency; it’s a strategic enabler that transforms procurement functions. By elevating the role of procurement, enhancing supply chain resilience, facilitating agile contract management, improving supplier relationships, and driving digital transformation, AI-powered CLM supports procurement teams in navigating the complexities of the modern business landscape.
As procurement continues to evolve, integrating AI-powered CLM will be indispensable in achieving strategic objectives and delivering value to organizations. Learn more about how.
When it comes to contract management, business teams have often historically “set it and forget it” — but a contract can be a vital source of business insight when managed well.
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