US Companies Turn to Digital CLM for Supply Chain Transparency
Supply chain transparency remains a pressing issue for many US companies, with over half finding disruptions extremely challenging. Effective management of contract lifecycles (CLM) can mitigate these issues, as demonstrated by advanced digital platforms like SAP S/4HANA, SAP Ariba, and SAP Fieldglass.
Contract lifecycle management involves tracking product, payment, rebate, and delivery information. Digitalization of CLM enables automation of procurement workflows, contract visibility, and data analytics for optimization. This shift moves businesses away from traditional systems like spreadsheets and hard drives, providing real-time contract visibility and reducing risks.
Transparency in the supply chain is crucial for quality control and resilience during disruptions. Digital proposal software facilitates collaborative sales experiences and customized proposals. Adopting more digital tools and cloud-based platforms ensures all stakeholders are aligned throughout the supply chain process.
Effective supply chain management, including advanced CLM, can directly impact a company's bottom line. As US companies strive to overcome supply chain transparency challenges, embracing digital tools and platforms is vital for success.
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