Today, contracts can no longer be filed away, retrieved only to resolve disputes later. They need to become more dynamic and play an active role with other business processes to realize their full potential.
Why? Because the business landscape has been growing more complex for years now, with contracts at the center of every deal to ensure all parties deliver what's promised. On both the buy- and sell-sides, businesses face...Continue reading >>
Remember the days when you asked for information from a vendor and they would send you a slick brochure? Some in fancy packages, others oversized (so they stand out). When you asked for a proposal, you'd get a 30-page bound book while others emailed you a PDF, or you got invited to a private page on their server to access the information.
For some of you, that was back in the day. For others, it's business as usual, and very frustrating to deal with the disparate collection of information in different formats. It makes side-by-side comparison difficult; sometimes tracking the information down can take time (depending on how organized you are). The adventurous few might enter key information on spreadsheets to better compare and make decisions. But that's a lot...Continue reading >>
As a Business Development Representative (BDR), I am the person you talk to when you ask for information. My job is to understand your needs and direct you to the right member on the sales team to help answer your specific questions. Sometimes, I get calls from prospects in the very initial stages of researching what products are available. They've outgrown their current solutions and they're shopping for what might meet their needs.
I had a recent conversation with a prospect about what one should expect from a good eSourcing tool. I thought it would be a good idea to share some of the procurement best practices we talked about. Even if you already have a sourcing tool, you might learn something here to get more from it. So let's get to it.Continue reading >>
Anyone handling contracts on a regular basis understands that managing stakeholders is one of the biggest challenges. Contracts touch and affect many people within and outside an organization, but in quite different ways. Some view themselves as owners, others as users and still more as reviewers or approvers. And then there are those who may simply be affected in some way by the aims or purpose of the contract.Continue reading >>
I was reminded while reading this post by Spend Matters that user adoption continues to be identified as a top challenge in implementing electronic procurement technologies, and is in fact often noted as the reason for a program's failure. The benefits of putting a best-in-class procurement application in place are relatively obvious, and yet end user adoption continues to meet resistance.
We have been working on ways to tackle procurement job functions while keeping this key challenge in mind. I spent some time last week with a partner of ours to review these developments, and his strongest observation was the polished interface and general user experience. As we were wrapping up the conversation, he said...Continue reading >>
I have been blogging about contracts at the core of business for some time now, but it appears there is still some confusion as to what the best way is to get started – a holistic approach or a functional/departmental approach. The answer is actually both. The term CLM or Contract Lifecycle Management is used right along with ECLM or Enterprise Contract Lifecycle Management. One letter (E), however, makes all the difference...Continue reading >>
I'm really looking forward to attending ISM2015 next week in Phoenix—the premier supply management conference of the year. It's a great opportunity to learn from some of the brightest minds in the industry, and to network with over 3,000 supply chain and procurement professionals from across the globe. It looks to be their biggest event ever, so you don't want to miss it!Continue reading >>
Interesting how perspectives can make all the difference in the scheme of business. Looking at something differently can change how you approach it and affect the outcome. While I've spent many years in corporate management, for a couple of years, I took on an assignment as a Gartner Research Analyst before coming back to the business side. That experience as a consultant has changed how I look at things today. And I wanted to share some of this perspective as it relates to enterprise contract lifecycle management (ECLM).Continue reading >>
ISM's annual supply management conference is just around the corner, May 3 - 6 in Phoenix. If you haven't yet made plans to attend, there's still time to look into it. If your travel plans are all in place, then you have to make some tough decisions about which breakout sessions to attend.Continue reading >>
If you’ll spend two minutes reading this article, I’ll help you boost your CLM user adoption by as much as 45%. How, you ask? Simple: By avoiding some basic but common mistakes that place implementations at risk.
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