Category Archives: Featured Posts

Featured Posts

Getting down to business: Contract Lifecycle Management Basics

Many prospects call me before they fully understand what contract lifecycle management (CLM) is or what it can do for their company. What they do know is that they need “something” to manage their current contracting processes. As a BDR (business development representative), my role is to help them understand what our contract management solution can do, what sort of pain points the software can minimize, and provide a basic understanding of the solution features. I answer a lot of … More

The destination is clear when there is a “source of truth”

Over the past 5 years, general counsel have become increasingly aware of the need for the corporate legal department to steward an enterprise contract management business process. The previously “federated” approach to ownership of the process meant that groups like legal, procurement, finance, marketing, sales, etc., all were involved in “contracting” at some level, but this also meant that no one owned the management and optimization of the contracting business process across the entire company. This awareness has translated into … More

How Integrated Analytics Solves Problems with SIM

In the past, Supplier Information Management (SIM) systems have focused on, well, managing supplier information. They kept everything in one place and made supplier data available to those who needed it. But that’s essentially where it ended. And that old SIM method is no longer enough. Sourcing is increasingly complex, forced to satisfy a growing number of regulations and strict compliance requirements, in addition to constant directives from executives to trim waste wherever possible. As a recent Spend Matters™ paper points … More

Avoiding Litigation with Information Governance Tools

As I was looking through some industry stories recently, I came across this report of a ski resort in Park City, Utah, that lost its lease on land it had held since the 1970s due to a data management oversight. Had the contract been renewed according to standard procedure, there never would have been an issue. Unfortunately, because of poor data management, no one knew the lease was coming up for renewal; and by the time they realized the deadline … More

Getting clarity for building a holistic approach to Procurement technology (Part 2)

In a recent post, Getting clarity for building a holistic approach to Procurement technology, we looked to address the challenge of the terms often used to describe procurement technology. Even the other day our sales team encountered a client RFP that asked us to elaborate our capabilities of RFx and auctions in the context of eProcurement. What? The initial reaction was that RFx and auctions are a part of eSourcing, not eProcurement. Based on this example, and hundreds of others … More