According to Gallup, supplier relationships are among the most overlooked but most important connections a business can have. Being a "customer of choice" can help mitigate risk, lower costs, and spur innovation. Companies that are great customers benefit from a more reliable supply chain and receive "flexible, non-bureaucratic support" from suppliers during crisis situations.Continue reading >>
Every day CEOs like me are challenged to realize the objectives they've envisioned for their companies. To help ensure their business goals are being met in today's demanding marketplace, three critical areas of business operations should be considered: compliance, cost reduction, and innovation. Fortunately, a Contract Lifecycle Management (CLM) system can create value in all three of these crucial aspects of the company.Continue reading >>
Recently I had the opportunity to sit down with Gartner Research Analyst Nigel Montgomery to discuss how Contract Lifecycle Management (CLM) has made a significant leap to Enterprise Contract Lifecycle Management (ECLM). Nigel is probably the industry’s most prolific author on topics pertaining to CLM or ECLM and has done a great deal of research over the years on the evolution of the technology. In fact, we had the opportunity to record the discussion, which can be viewed here.
What was interesting is that Gartner, from their client base, can see what is driving the marketplace, which informs their predictions for CLM in 2015. This is extremely exciting for us; their clients are saying what they need going forward is in total...Continue reading >>
Happy New Year! As 2015 begins, companies are reviewing their financials and looking forward to the new year. We also think it's the perfect time to review any contractual obligations and explore opportunities within the contracts. Why? To ensure that all of your company's contracts are managed profitably by controlling spending and mitigating risk.Continue reading >>
In the earlier blog we noted that CLM in the past was based on the inability to completely address the needs of an enterprise due to siloed approaches – so how do we look forward?
Contracts are the lifeblood of all business relationships. Today, organizations need the ability to be govern contracts and contract data holistically from a common solution framework to get the best understanding of the obligations that financially bind the entire enterprise. As such, siloed approaches for looking at CLM are officially out of touch.Continue reading >>
Almost a year into my role at Selectica, my enthusiasm about the market has only increased along with our ability to deliver for our clients. The value we bring to the market from our newly combined company is significant and the industry data strongly supports our approach.Continue reading >>
Recently, Selectica hosted a webinar – now on-demand – titled, Creating Strategic Value from Contract Management. Guest presenter Andrew Bartels, VP and Principal Analyst at Forrester Research, Inc. and Patrick Stakenas, Chief Strategy Officer at Selectica had an interesting discussion on the current landscape of CLM.
Andrew shared the findings of his recent report and painted the picture of a complicated landscape of solutions in CLM that shows how technology continues to be placed in buckets of functionality, including buy-side, sell-side, etc. However, the business landscape today is demanding that organizations take control of how they manage their contractual relationships by taking a wider a look at the enterprise as a whole. This post is part 1 of a a 2 post series.Continue reading >>
How much value is your business gaining from your contracts? It’s a reasonable question and one that will be addressed on November 19th in this Selectica webinar with guest presenter Andrew Bartels of Forrester Research, Inc.
If a procurement executive asked you what a given contract was worth, you would likely give an answer based on estimated spend value as a result of projected volume, negotiated costs, and term. While this is accurate, it is also a limiting perspective that places more emphasis on the transactional footprint of the contract than what it means to the company’s operations.Continue reading >>
Not to be simplistic but if you’re a working professional in a modern enterprise, most likely you’re either:
With 2015 just around the corner, ask yourself which contracts camp best describes you and how you can influence your organization’s contract management success in the new year. After all, every business or government has many contracts with customers, employees, suppliers or other partners. And Contract Lifecycle Management (CLM) software in the cloud helps cross-functional teams create, manage, and achieve maximum value from contracts.Continue reading >>
As kids enter Kindergarten, one of the basic lessons we teach them is learning how to play well with other children. Almost any kindergartner will tell you, “If you play nice with others, they will play nice with you.” But as adults, it seems as though we’ve forgotten this basic lesson we teach children – especiallyContinue reading >>