Arjen van Berkum | Technology & Contract Management Evangelist

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Understanding Potential Bias in AI During the Post-Award Phase of Contract Management

Image by moonflower5 from Pixabay

In today’s digital age, artificial intelligence (AI) is revolutionizing the field of contract management, particularly in the post-award phase. AI tools have the potential to streamline processes, enhance efficiency, and reduce human error. However, as we embrace these technologies, it’s crucial to address the potential biases that may arise, ensuring that AI serves as a fair and equitable tool in contract management.

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Unlocking the Future: The Benefits of Blockchain for Contract Management

Image by Gerd Altmann from Pixabay

In recent years, blockchain technology has emerged as a transformative force across various industries, offering unprecedented levels of security, transparency, and efficiency. One area where blockchain is making a significant impact is contract management. By revolutionizing how contracts are created, executed, and monitored, blockchain is poised to redefine the landscape of contract management. Let’s delve into the key benefits that blockchain brings to this crucial business function.

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The Role of Contract Management in the Industrial Revolution

The Industrial Revolution, a period of profound transformation from the late 18thto the early 19th century, was marked by significant technological advancements and the transition from agrarian economies to industrial powerhouses. This era not only revolutionized production processes but also necessitated the evolution of business practices, particularly in contract management. Understanding the scientific underpinnings of contract management during this period provides valuable insights into how it facilitated industrial growth and development.

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Objective-Focused vs. KPI-Driven Contract Management: Understanding the Differences

Image by Carlos Bohorquez from Pixabay

Contractmanagement is a critical function that ensures agreements between organizationsand their partners, vendors, and customers are executed efficiently and effectively. Contract managers play a vital role in this process, and their approach to managing contracts can significantly impact the outcomes. Two common approaches in contract management are being objective-focused and KPI-driven. Understanding the differences between these approaches can help contract managers choose the best strategy for their organization.

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Key Human Skills for Contract Managers and the Role of AI in Enhancing Them

Image by congerdesign from Pixabay

Contract management is a multifaceted discipline that requires a blend of technical knowledge, strategic thinking, and interpersonal skills. As artificial intelligence (AI) continues to evolve, it is reshaping many aspects of contract management, enhancing certain human skills while automating routine tasks. This article explores the key human skills essential for contract managers and examines how AI can enhance these skills.

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