Category Archives: Contract Management
This article was first published in ACC Docket, September 2016. The cloud will make your legal team’s global operations more efficient. The cloud will also bring much-needed transparency to and increased collaboration with your company’s suppliers.
How SIM & CLM can save millions of dollars: A Look at the Financial Industry As we continue the series on managing third-party risk—SIM-CLM, it is clear that every organization has a different take on what is most critical to understanding its value. For financial organizations, addressing third-party risk has partly translated into managing a complex workflow of regulations compliance and risk prescribed by regulatory agencies that have been dominating the landscape.
“Risk” Is in the Eye of the Beholder I am still amazed at how the conversation about a broad topic such as risk is dependent on the individual I am speaking with, and more often will just be focused on contract management.
Company name: Marvell Semiconductor (division of Marvell Technology) Marvell Semiconductor, Inc., offers integrated circuit solutions using communications mixed signal processing and digital signal processing technologies. The company offers switching, wireless, PC connectivity, gateway and power management products; and transceivers and communications controllers. It also offers system-on-chip products, hard disk controllers, preamplifiers, motor controllers, and tape drive controllers. In addition, the company provides storage products for hard disk drives and tape drive electronics, and storage interconnect technology. Its products are used in … More
“Lean production is a work organization model that favors the development of proactive, competent employees who are prepared and motivated to think and suggest improvements.” — Philippe Hidden behind the magical power of measurement quantified using intrinsically false data, Management is finding itself unable to deliver performance in a complex world within ever more complex organizations. Didn’t Lean Management provide the keys to performance? In the 1990s, didn’t the complexity sciences largely contribute to the revival of the practice of … More
Large staffing organization in the U.S. provides a comprehensive range of HR services to their clients. They offer temporary, temporary to hire, direct hire and outsourced placement services for local and global customers and fulfill all aspects of commercial and professional staffing. Understanding Contract Risk In an assessment conducted in early 2014 that focused on six different work streams with contract liability risks, the company wanted to know if they had solid procedures in place to mitigate the risks. The … More
In this day and age of business apps and mobility, technology is driven by the do-it-yourself approach or DIY. Consumer-side technologies and personal experiences support the notion that today it has become easier to manage and execute contracts than ever before. I experienced this in the past few weeks with two real estate deals, where I became both a buyer and seller of a property on the same day. Based on these events I had an initial flurry of emails … More
Not a household name for most people, the U.S. Pharmacopeial Convention (USP) is a scientific nonprofit organization that sets standards for the identity, strength, quality, and purity of medicines and food ingredients manufactured, distributed, and consumed worldwide. In fact, USPs drug standards are enforced in the United States by the Food and Drug Administration and used in more than 140 countries. Addressing the Contract Problem While USP was familiar with setting standards for food and medicines, it needed help internally … More
How much should procurement really care about contract management? A lot. More and more, procurement is being asked to improve supplier relationships and reduce supply chain risk. According to research by Spend Matters, procurement should be analyzing contracts during negotiation to increase successful agreement and execution, and predict disputes before they occur. We agree. Reporting on contract information is critical for mitigating risk, maintaining compliance and realizing savings. Contracts and the data they contain are valuable. But too often they … More
Introduction: Post #1 & #2 of this series looked at how General Counsel is (and may always be) linked to risk. But the role – and influence – of General Counsel has expanded. Technology and data are helping legal teams add value to an enterprise. Going beyond risk and compliance to support the bottom line. This article is about increasing their effectiveness – and clout – with contract management tools. Beyond risk: How Determine CLM turns contracts into strategic business … More
Introduction: Post #1 of this series looked at how Brett Hart, General Counsel at United Airlines, became their interim CEO. He not only understood risk, and how to intelligently manage it, but he also had a deep understanding of the company’s business and strategy, and how to deliver. In this next post we’re taking a closer look at how the role of General Counsel has matured. We covered examples of impressive success and are now looking at some distressing failures. … More
Introduction: The role of General Counsel (GC) is growing in importance and has become a stepping-stone to titles like Chief Risk Officer and CEO. Risk and compliance are still important to the success of an organization. But there’s more to being the Chief Risk Officer or CEO. In this series, we are looking at examples of General Counsel succeeding and failing. We also investigate how to add value across an enterprise with contract management technology. Due to business, executive, and … More
[Note: This article was originally posted on CPORising.com. Determine is pleased to contribute regularly to Ardent Partners blog on the topics of procurement and supply management. You can read the original post and other content from Ardent Partners HERE.] Needless to say, the start of year has hardly been one for celebration. Recent volatility in the stock market has been driven by the Chinese bubble economy, oil prices hitting a 13 year low of $25 a barrel, and crisis in … More
Contract management is an important aspect of managing business relationships and is the critical tool used by companies to get the most out of agreement terms that take so much effort to negotiate! While executing and monitoring a contract to maximize financial and operational performance and minimize risks may not sound sexy, it is important to the entire organization. There are many benefits of a contract management solution. Organizations where no solution exists suffer quantifiable losses. Spreadsheets combined with manual … More
All enterprises, our customers and prospects included, share a common challenge when it comes to supply management, That challenge is the burden of having a plethora of siloed solutions. The solutions range from supposedly comprehensive spend management platforms to spreadsheets and manual processes, to category-specific solutions and supplier portals. Help, however, is on the way and it isn’t taking the form of the unattainable ERP vision of one all-inclusive behemoth. Enterprise technology solutions tasked with making business processes work better, … More