Tim Cummins on what's holding back contract lifecycle automation
Predicting the future is a mug's game.
In 2002 Gartner predicted that, by 2007, there would be a $20 billion market for Contract Lifecycle Management software and services.
Tim Cummins - CEO of the International Association for Contract & Commercial Management (IACCM) - has written a post suggesting why market growth hasn't met those expectations.
- Difficulty in fixing cross-functional processes; because contracting cuts across Legal, Finance, Sales
- Procurement and Operations there is often a lack of executive sponsorship to fix the end-to-end business process
- Resistance by internal IT (who are forever being promised the 'imminent' arrival of a Contract Management module by their ERP provider)
- Under-appreciation by companies of the impact of the contracting processes on financial performance, company reputation, and risk management
So, how much is contracting really costing you?