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Contract Management: The Future is All About Best-of-Breed in the Cloud

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"Contract Management: The Future is All About Best-of-Breed in the Cloud"

Abandoning large enterprise software suites, leading businesses are turning to dedicated solutions.

For years, companies preferred large enterprise software suites for a variety of technical and business reasons.

But increasingly, these suite implementations have been prone to failure due to the customization demands required to meet the needs of an organizations many stakeholders, and the huge change management requirement to get users to adopt them.

The rise of best-of-breed (BoB) cloud-based applications have changed the landscape as well. Businesses are able to build highly differentiated applications much more quickly and thread them together with other best-of-breed applications.

These BoB apps are not just “a little bit better”—they are often magnitudes better than suite competitors and their functionality can be paradigm shifting giving those that adopt them significantly enhanced business benefits.

Also, since the cloud and an API-first approach enabled by the cloud makes integrations magnitudes easier, the suite integration advantage is nullified.

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