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.

His reasons?

  • 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?

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