In the autumn of 2020, consultancy firm #SupplyValue conducted research into purchasing trends in 2021 (download via: https://supplyvalue.nl/kennis-methods/publicaties/).
As part of the study, it was also asked to indicate which themes within the procurement function will be interpreted differently as a result of the corona crisis.
The approximately 400 respondents in the survey came to the following top three:
1: Risk management;
3: Procurement processes.
A risk is an event that has a negative or positive effect on the achievement of the organizational objectives. Risks arise from changes in external or internal factors (risk causes) and require constant attention. After all, under the influence of changing circumstances, the nature and impact of risks will also change.
Risk management is playing an increasingly important role in the field of the contract manager. Not only because management pays more attention to risk management. Also because primary business processes are increasingly performed by external service providers. The corona crisis has further contributed to the focus on professional risk management.
The second trend of research – the development of partnerships – ties in well with this development. Organizations are aware of the fact that old forms of cooperation no longer work. Clients and contractors are no longer opposed to each other, but modern outsourcing requires connection. Ultimately, it is about creating value, with an eye for mutual interests. The contract is a starting point where parties must adapt to the dynamic environments in which they operate.
This means that the contract and supplier management process has become a core competence for organizations. Professionalization and cooperation are necessary to manage dependence on suppliers and to guarantee the quality and continuity of the organization. Transparent cooperation and knowledge sharing leads to insight and from this insight parties enter into a dialogue about their cooperation, about achieving performance and managing risks. Findings are shared and jointly assessed and resolved. And new opportunities arise through process improvements and innovations.
Based on this vision, we have developed AddVueConnect: the new generation of contract management software. With AddVueConnect you have a dedicated and independent platform within which you can build your own eco-systems for contract management and coordination. And our powerful product portfolio is available within your platform. From simple contract management to complex outsourcing; all levels of contractual cooperation can be managed with AddVueConnect.
Knowing more? Contact us for a no-obligation demo. We are happy to tell you how you can realize more value with contract management.