One common theme we have heard almost universally in talking with CTRM vendors since March has been that surprisingly, the lockdown seems to have created more activity. Indeed, several deals have been done and signed over the period and some implemented very rapidly and remotely. We have argued on several occasions that these activity levels are as a result of one or more of the following factors; Discovering that the current legacy CTRM really doesn’t support a work from home set up. Usually because it doesn’t incorporate workflow and approvals and/or things like document management. As one person told us, it is hard to run a business when the fax machine is in an office no one can get to, Supply chain disruptions – its not just COVID-19 that has meant lots of supply chain disruption as trade wars and other geopolitical factors have contributed but being able to track and manage movements and sourcing more efficiently from a CTRM has become significantly more important. Many legacy CTRMs do not include much supply chain functionality at all nor anything to do with sourcing and procurement and this fact has strengthened the trend towards Commodity Management solutions which incorporate aspects of… continue reading
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Source: CTRM Center