Archive: December, 2014
How many of you are looking forward to the holiday season and everything it brings? For most people, late December means long evenings with family, too many cookies, and puppies leaping out of elaborately wrapped boxes; in short: joy.
However, if you’re a corporate or in-house lawyers, chances are you view December with a mix of anticipation and dread. And no, it’s not because of Aunt Milly’s fruit cake. It’s because you fear that this year will be like last: that you’ll miss out on holiday festivities and family time trying to eke out contracts by year’s end.
There are many reasons why companies want contracts signed, sealed and delivered by December 31st. Whether it be to hit revenue targets, take advantage of discounts or incentives, or use up budgets that vanish when the clock strikes midnight, the end of the calendar year often means piles and piles (and piles and piles) of documents that need to be edited, negotiated and approved. And that, in turn, means missing out on some of the magic the holiday season has in store.
You’ve realized you need a Contract Lifecycle Management (CLM) solution. You’ve also made the decision whether to build your own solution or buy from a CLM vendor. The benefits you’ll see are clear: complete and meaningful insight into contract data, increased ability to collaborate, time and cost savings, and better decision making through reduced risk. However, the path to reach these benefits can be less clear. The “best” way forward differs by company, of course, but a lot can be learned from those who have faced similar challenges.
In a recent webinar entitled “Ask The Expert – Key learnings from contract lifecycle management software implementations” presented by IACCM, Paul Branch of BT and Tom Haman of W.W. Granger, Inc. gave insight into their own diverse experiences implementing CLM tools in their respective organizations. As both underwent unique CLM implementations, differing in scope and scale, we find their combined perspective particularly helpful for those on the brink of embarking on their own CLM implementation project.