Technology is undergoing swift changes in today’s world and the effects of technological development in the industries, societies and personal lives is highly noticeable in many corners of the world. These technological developments change many things in our lives, our businesses and everything we do and have enormous consequences in the industries and our work places.

Along with such technological developments, the roles played by various positions of employees in industry, either change, or in some cases become redundant.

Contract management is no exception in the encroachment of technological developments. New technology is relieving the contract managers on the task-oriented activities such as; contract preparation and development, vendor analysis, tender analysis, procurement analysis and review, profit-loss analysis, price or cost analysis, pre-qualification analysis, solicitation, data collection, reporting and monitoring, thereby allowing more time for other roles in contract management such as; Business development and implementation, policy and strategy development and implementation, interpersonal affairs and relationships, communication, negotiation, dispute resolution, assisting project management, trade-offs analysis, risk management, time management, administration and teamwork. Also it is necessary for the contract managers to spend some time in getting used to newly added technology both in getting trained in new software and understanding the behaviour of newly installed hardware. With the addition of more technology into the arena, the number of contract professionals needed would be reduced and the redundant personnel will have to be allocated into new roles within the organization or simply laid off. Such scenario will necessarily need the personnel to develop new skills within the trade or switch over to other trades by acquiring new skills. 

Another aspect of such technology advances is that the professionals would have to keep on acquiring knowledge and skills in new fields and sectors as a constant requirement in order to be on top of the job market. As the history repeats, new technology has always made some trades redundant or reduced to bear minimum and has opened entirely new trades or modified existing trades. The professionals will have to lookout for areas for career development and engage in competency acquiring as a regular practice.

While a first degree or a diploma will become the basic requirement for most of the positions which would have to be supplemented by the new trade competencies for all personnel involved in those employment sectors which are affected by new technological developments. Regular competency development in new trades or sectors would be the norm of the day in such scenario.