Category Archives: Contract Management

Contract Management

November Determinews: Giving thanks as we look back and accelerate forward.

As we head for another calendar turn, I’d like to thank you, our customers, for being the driving force behind making our solutions ever better as we fully implement our Cloud Platform. The best is yet to come – stay tuned as our global team sets the bar even higher in the year ahead. Get a taste in the following resources. As always, please feel free to contact me with any comments atteam.success@determine.com. Determine Cloud Platform on cloud 9 Our … More

Time for legal to soar into the Cloud (Series 2 of 3)

In Part 1 of this series, we looked at some of the reasons every legal team needs to adopt cloud-based legal solutions. In Part 2, you’ll discover why you need to know exactly who your suppliers are and what they’re up to–and the risks they represent. What happens in Bangladesh matters in Arkansas A little more than three years ago, a shoddily constructed eight-story building located across the world in Bangladesh collapsed, killing more than 1,100 people and injuring at … More

Improving Insights Into Third-Party Risk (Series 1 of 4)

Introduction to SIM & CLM: Why supplier risk isn’t just a Fortune 100 company issue. The responsibility for managing suppliers and supplier contracts has taken on a heightened level of interest and concern in recent years. Highly regulated industries including finance, healthcare and food services, are forced to re-evaluate how supplier information is collected and how contracts are managed. With fines that can be in the millions, the potential of being audited and penalized due to non-compliance is real.

On the Curve of Innovation — Part 3: Enabling Collaboration & Self-Service

Making your organization run efficiently requires that you are able to take a clear and honest look at your workflows as they were designed. With the right enterprise technology, you not only can do this, but can also easily collaborate and communicate the business process you intended for those workflows, while enabling self-service capabilities to meet the demands of a wide variety of users. In this regard, consider the number of various user types involved with contract management, where workflow … More

Getting up to speed with all things Determine

With Memorial Day just around the corner, we honor all those who have served our country as we race into summer. The Indianapolis 500 is also gearing up; those of you who visited ISM 2016 saw how we got a jumpstart on that event with our racing-themed booth (see the pictures below!) It was great to see everyone who stopped by, and for those of you who couldn’t make it we look forward to catching up with you soon. Speaking … More

Success Story: Contract Management

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

Four Pillars of DIY Contract Management

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

Success Story: U.S. Pharmacopeial Convention

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

Tapping into the full value of contract management tools.

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

The Modern General Counsel – Part 3

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

The Modern General Counsel – Part 2

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

Three BIG Benefits of Contract Management

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

Taking TIGR by the tail: Kellogg Company’s CLM deployment strategy

It was in 2009 when Kellogg Company began exploring new options for a contract lifecycle management tool. That decision, however, got put off as the company pursued a major acquisition opportunity. This turned out to be fortuitous, because the combination of the acquisition process, integration of the new business and the increase in our volume all served to highlight the need for a more robust CLM. It also helped formulate and focus our list of CLM requirements and priorities. I … More

The ROI of Integrity, Trust and Loyalty

Successful implementations that meet complex customer needs begin with strong relationships. We know that strong relationships are based on integrity, which takes time and effort to develop. But believe me, the ROI of integrity is real. From lower churn, more referral customers and loyal clients to shorter sales cycles, bigger deals, happier employees and more innovative solutions — investing in integrity is good for business. In fact, integrity is one of our core values at Determine. Having integrity leads to … More

Eight New Year’s Resolutions for Smarter Procurement and Spend Management in 2016

Happy New Year! Welcome to 2016! Just a couple weeks into the new year and maybe 75 percent of resolution makers are still on track, in six months fewer than half will be. To make things happen this year, most of us need to focus on a few key (and achievable) goals. If you don’t know where to start, Determine™ can help! You can chat with one of our experts about 2016 planning. We can help with successfully managing your challenges … More