From sourcing and purchasing to invoicing and payment, procurement teams need to work with precision, speed, and full visibility into the agreements they process every day. That’s why they’re increasingly using electronic signature technology to digitize the signing process. But even when organizations remove the bottleneck of requiring a physical signature, manual processes before and after signature lead to needless costs, wasted time, unnecessary risk, and customer and employee dissatisfaction. Manual contract management creates inefficiencies due to errors from entering data into contracts and back into systems. Once contracts are signed and completed, organizations are unable to search and filter text of agreements at scale.
That’s why procurement teams are leaving manual paper processes behind, and leaders who have transformed their workflows are experiencing lower error rates, better customer experience and faster deal cycles.
We worked with Forrester to survey 176 global procurement decision makers. Check out some key takeaways below and see how digital transformation can benefit every phase of procurement workflows in the full report here.