Lots of people talk about Return on Investment, ROI. They also say that the bigger the risk, the bigger the reward. So what’s your Return on Risk?
Most people view risk as a bad thing, but calculated risk can be very rewarding. Without big risks, there would be no great leaps forward. I recently worked with a company that would cut down a project into four management chunks rather than doing it as one big project that would take at least three years. Not all 4 month efforts took 4 months, but at the end of three years they had accomplished more than any one big project had.
What is the risk of an enterprise contract lifecycle management (CLM) project? It's mostly has to do with changing behavior. The high degree of business process re-engineering makes people uncomfortable. That's one of the reasons we think of CLM as a journey; you should start with the highest value/lowest risk component. That’s why we developed the Contracts Hub. It's a relatively small step in terms of behavioral change, but will give you significant benefits. It gives you one place to store and analyze your contracts. It’s SaaS based and totally secure. And you can starting seeing results in a few weeks, not years. Small steps that lead to measurable results ease the journey and the risk.
Risk is for daredevils. You need results.