Contracts are the foundation of an effective digital procurement process. Contract management has evolved to enable successful leaders to look beyond traditional contract processes and performance metrics. Contract management of the future continues to maximize commercial value with additional aspects. Additionally, companies are looking for better visibility into obligations and operational resilience from the ever-growing list of third-party relationships and supply chain disruptions. Procurement is driving standardization with templates and defined clauses to be able to perform contract operations with increased speed, agility, and efficiency.