Category:
Contract Lifecycle Management

Cracking the Code on Supplier and Contract Management

February 2, 2023
Now that we live in a world of business where outsourcing and contracts reign supreme, transactional relationships with vendors or suppliers have evolved into crucial partnerships.

The emergence of organizations relying on third-party suppliers has created a serious need for better ways to work and collaborate effectively. If you work in the VMO or procurement space, you know firsthand how frustrating these relationships can be — missed communication, lack of accountability, unclear or misplaced contract terms, etc.

And with more money tied up in contracts than ever before, (KPMG estimates most organizations lose around 40% of their contracts’ potential value), companies simply can’t afford to ignore their contract management strategy. Prioritizing the way supplier relationships are handled should be a top priority regardless of company size or industry. The truth is, it’s up to organizations to remain vigilant and innovative in order to protect themselves from wasted spend and time when it comes to managing their contracts.

Procurement Foundry + the Power of Terzo

To help demonstrate the importance of optimal contract and vendor management, Terzo has partnered with Procurement Foundry, the world’s leading sourcing community, to host a webinar on past and present procurement challenges, along with new initiatives for future planning. This webinar will feature guest speakers Kevin Character, Senior Director of Customer Success at Terzo, and Craig Smith, Senior Director of Procurement for DHI Group. DHI Group, Inc., is a leading provider in the career marketplace and the parent company of Dice.com and ClearanceJobs.com.

The webinar will be moderated by Michael Cadieux, CEO of Procurement Foundry. Attendees will walk away with the knowledge of how DHI is saving dozens of hours and improving cross-functional governance with the right procurement practices and solutions in place. This is a scalable framework that can be applied to many organizations’ VMO and procurement initiatives.

"Supplier and contract management is a multi-billion dollar problem that most companies still haven't solved effectively yet,” says Kevin Character. “Craig Smith is a pioneer in this space, and I'm so excited for him to share how innovating is helping him win into 2023."

Join Our Upcoming Webinar for More Insights

Want to know more about how you can get ahead of lackluster contract management and procurement challenges? All you need to do is register for our upcoming webinar — it’s free to attend, but the insights are invaluable.

Join Terzo and Procurement Foundry on Thursday, January 19, 2023 at 1:00pm ET for your exclusive access to our conversation with Craig Smith of DHI Group. Click here to register!

This relaxed but informative session is a must for those in the procurement or VMO space looking to better shape and execute their contract management strategy. Don’t miss your chance to tune into this one-time webinar and crack the code for effective supplier relationships. We hope to see you there!