Category Archives: Contract Management

5 Executive Approaches for Enterprise Contract Management

I’ll never forget the first time I learned about marketing automation (MAS) tools. I quickly realized having access to an MAS tool would make my life and job a thousand times easier. And once I saw a demo of the tool, I was ready to do whatever it took to sell the solution internally. Now, I know what you’re thinking, what does marketing software have to do with contract management software? Well, not a lot in terms of functionality. However, … More

Getting Enterprise Contract Management Right: Join Iasta at IACCM

Iasta is kicking off October by prepping to attend the International Association for Contract & Commercial Management (IACCM) on October 14-16 in Chicago. IACCM is the global forum for innovation in trading relationships and practices and is leading the way in responding to the demands of global networked markets. What’s On The Agenda? On Day 1, Selectica will host an executive boardroom session, “2015 Readiness: Contract and Commercial Management Trends & Transformation Discussion.” Patrick Stakenas and Bill DeMartino from Selectica … More

5 Reasons to Attend eWorld 2014

Iasta is busy prepping for eWorld Purchasing & Supply on September 24 in London. This UK leading event centers on the use of leading-edge technologies and techniques within the procurement & supply chain functions. eWorld is targeted to senior business executives responsible for implementing web-based procurement and supply chain strategies, sourcing technology partners, and using / joining electronic marketplaces. If this sounds like you, check out these five reasons why you should join Iasta at eWorld in September: 1-Attend cutting-edge … More

3 Reasons to Join IASTA at ProcureCon Indirect West

ProcureCon Indirect West is right around the corner – September 15, 16, and 17 in Litchfield Park, Arizona. This year’s theme is: Where Sourcing Meets Innovation. Iasta is attending and we are excited to embrace this theme through engaging networking sessions and even hosting an interactive roundtable of our own! If you’re a CPO or director from a large or small spend company, here are 5 reasons why you should join us at ProcureCon Indirect West: 1-Participate in an interactive … More

Beyond Contract Management 101: Webinar with Spend Matters & Selectica

As adult procurement people, the first week of September may not remind you of fresh notebook paper, new pencils, and back to school shopping (my personal favorite time of year as a kid). But it’s still back-to-school season, and we want to help you get back into the contract management game. Whether you’ve taken a break from contract management for the summer (or much longer than that), it’s time to dust off those best practice guides and start putting your … More

Contract Management in a New Context: It’s About Centralizing Compliance, Governance, and Risk (Part 3)

Creating an enterprise approach to CLM is essential in today’s procurement world, as procurement and other departments are increasingly being audited on their organizational processes and data approaches.  This is paralleled with the efforts of center-led / center-of-excellence approaches being established by world-class procurement enterprises, something we are seeing more and more within our client base. Using an enterprise approach for CLM therefore only makes sense for organizations taking this approach. In fact, the consolidation of CLM into one tool … More

Contract Management in a New Context: Blind Men, Elephants, and Visibility (Part 2)

Today, organizations have many choices when selecting a Contract Lifecycle Management (CLM) solution.  Some solutions may come from a content management provider as part of a wider usage of sharing content.  Others may come from ERP systems, who argue that you’re simply leveraging just another module within your ERP.  Someone focused on these two options may be considering CLM as just an add-on functionality or an afterthought to using one provider. Still, other CLM options come from specific functions, like … More

Contract Management in a New Context: Going Outside Your Silo (Part 1)

Without Contract Lifecycle Management (CLM) in the modern business world, a list of things can go wrong, including missed savings, heavy fines, costly litigation, and broken relationships. However, what truly defines CLM will always be a matter of perspective. Generally speaking, CLM is the ability to manage against contracts to ensure that contractual obligations are being met.  This starts with the coming together of two parties that agree on the context of a business relationship.   CLM, contract award, compliance, and … More

Kissing the Frog: How Procurement Can Develop Strategic Supplier Relationships: Part 2

Welcome back! Just joining us? Click here to read Part 1 of this series. As you can tell from my previous blog post, there is a great deal of information to consider when trying developing strategic supplier relationships. If you are like many of Iasta’s clients, these questions are all important to the identification and development of strategic suppliers. However, there is high likelihood supplier information is living in the following areas/systems across the business landscape: Spend systems (ERP, P-Card, … More

Building a Sourcing Pipeline: 8 Questions to Ask When Evaluating eSourcing Providers

Are you asking the right questions when you’re evaluating eSourcing providers? Andrew Bartolini of CPO Rising recently published an article entitled “Building the First Sourcing Pipeline – Getting Started.” He provides valuable advice to procurement organizations that have just purchased an eSourcing solution. These organizations should be commended for the decision to become more strategic by implementing tools that will (hopefully) streamline their sourcing processes and vault their positions within their companies. However, from one solution provider’s point of view … More

For Innovative Sourcing: Date More, Marry Less

Anyone who’s been in the outsourcing business for any length of time has heard the cliché that outsourcing relationships are like marriages – they require hard work and commitment over the long term. Well, maybe it’s time to change that. Rather than marrying your next outsourcing provider, take them out on a date and see how things go from there. The fact is, our current approach to outsourcing contracts is completely out of touch with the needs of a business … More

Is Your Procurement Organization Dancing in the Dark?

Break out your dancing shoes, brush off the dust, and turn on the lights…it’s time to stop dancing in the dark! We find that a lot of procurement organizations are “dancing in the dark” because they don’t have the proper visibility into their spend and sourcing pipeline. Without this insight, you could be losing out on hard dollar savings and efficiencies! Iasta recently hosted a Webinar with AOL and Spend Matters, “Vote for Visibility: Yes, Procurement and Data can Dance.” … More

eSourcing and eProcurement Go Together like Peanut Butter & Jelly

eSourcing and eProcurement are a perfect pair – they go together like peanut butter and jelly. When used together, these solutions can transform any organization and empower purchasing pros to make data-driven business decisions. So where does the rubber meet the road? And what does it take to get the implementation right? We recently hosted a Webinar with Procurement Leaders, Equifax (an Iasta Client), and Guardian Life Insurance about the most pressing topics and best practices for implementing eSourcing and … More

Fast-Tracking: Does Sticking with One Service Provider Save Time and Money?

Perhaps your organization has a contract already in place with a service provider, and you are thinking those pre-negotiated contract terms and conditions might save you time and money in sourcing the next area of your business. Or perhaps your organization decides that skipping a competitive process and sourcing directly with one service provider will be more efficient. Of course, sole-sourced contracts can be successful, but these Top 5 suggestions remind us that a competitive solicitation process delivers increased knowledge … More

A New Procurement Calls for a New Kind of Purchasing Hero

Despite the challenging circumstances of today’s economic environment, you must embrace change in order to support shifting external environments and business strategies. At the same time, you look for opportunities to capitalize on disruptive changes in supply markets, which can drive greater value for your organization. You must become a purchasing hero. What is a purchasing hero? We believe a purchasing hero brings knowledge capital to multiple departments. They inspire collaboration and cross-coordinate with as many internal stakeholders as possible. … More