What are the most important contract management workflows to automate with ERP?
Contract management is the process of creating, executing, and monitoring contracts with different parties, such as customers, suppliers, partners, and employees. It involves various tasks, such as drafting, negotiating, approving, storing, tracking, and renewing contracts. Contract management can be complex, time-consuming, and error-prone, especially when done manually or with multiple tools. That's why many organizations use enterprise resource planning (ERP) systems to automate and streamline their contract management workflows. ERP systems are software platforms that integrate various business functions, such as accounting, procurement, sales, inventory, and human resources. They can help contract managers to improve efficiency, accuracy, compliance, and visibility of their contracts. In this article, we will discuss what are the most important contract management workflows to automate with ERP and how they can benefit your organization.