Suppliers’ relative power plays a role during the negotiation and agreement phase. The steps are often not defined and discussed. Contract Planning and Negotiation Planning: Contract planning indicates the overall process of parties entering into a new contract.Due to the absence of pre-configured templates, they tend to ignore their importance, which may often lead to performance management issues and dissatisfaction down the road. Terms & Conditions Management: Businesses and suppliers often do not use standardized and compliant legal languages while specifying the terms and conditions of an indirect contract.Let’s get familiar with those activities now. Due to this nature, several unique contract management activities are part of indirect contracts, and businesses can benefit significantly by having an automated contract management approach. However, indirect procurement contracts tend to lack such standardization. Usually, direct procurement contracts are concrete and standardized.

Ariba platform for contract management