Are the contracts customer contract? Perhaps it may be useful to present the contracts based on the unexpired residue of the term left and whether or not the consent of the customer is required (for assignment). Are the contracts being assigned to a third party? Will the customer have to consent to the assignment?
If you are terminating the contract, you may need to look at the requirements under the term of the contract that will allow you to terminate without liability.
Hi Julie. Even if it is a proprietary tool, it is still an electronic platform and should be bundled with the IT set up and other licensing fees. However, if the "workflow tool" is not theirs, and it is a product developed by another third party software company, that might explain why they want separate Ts&Cs. Make sure they are an authorized dealer for the workflow tool. I dont know what industry you are in, but have you checked out SAP Commercial Project Management ? It is a great one-stop-shop with great workflow and email push notification capabilities.
• GAMA ENERJI A.S.
Thank you Jeff. Does anyone have best practices for contracting as-a-service? Especially, what is different vs. traditional software contracting?
At IACCM, we have developed a comprehensive questionnaire to gather requirements that take account of the new technologies that are driving CLM innovation. This would support your assessment and subsequent market outreach. As you may know, we are also assessing the many products currently available to help our members with their selection process. If you would like a copy of the questionnaire, please email me - email@example.com
• Robert Half International
Happy to discuss this with you as we have had our solution in place for some time. The "do's" and "don'ts".
With GDPR and other compliance issues that exist, selecting a vendor is important.
Good point has been brought to the forum discussion today, and I hope that we can get more responses.
It has been said that Software-as-a-Service and Cloud Computing are the new generation of business computing and that these new ways of delivering networked applications will have the same world-changing effect on business that Windows and browsers did. We are really on this scenario.
An interesting article has recently been posted, under the question 'What are bots?' and this overview of the bot landscape tries to describe the situation (botnerds.com/what-are-bots/), You said that you work for a social media management company so you must be aware that most of the industry focus is on bots in messaging apps / social networks.
As it is said in this publication, there are lots of possible business models, but no product-market fit has been reached yet.
As far as the point whether the MSA and/or order forms should be evaluated, I will raise this question in your name in the Technology IACCM community of interest, so that we can listen to some inputs from experts in this field.
The recent IACCM Research Report on Automation, which is in the IACCM Library, contains analysis and outsights on this topic. Once you have reviewed that document, please let us know whether you have additional questions.
Sharon, the sort of functionality you mention would commonly be available through contract or project management software. It may be that you could use existing tools within your business - for example Sharepoint or Office365. Otherwise, your choices rather depend on the volume of agreements, their complexity and the budget you have available.
I will have a member of the IACCM team follow up with you to better understand your needs.
• BCS Global Networks Ltd.
Hello Sharon, I had fairly good experiences with Sharepoint a few years back. My current employer uses Salesforce, but other than the time within which we are processing orders, I don't believe other performance indicators are measurable. Haven't looked at Office365 but look forward to further input from the IACCM team.
I am looking at salesforce as I used this in my last job. At present its all manual work to pull a performance report together.
• BCS Global Networks Ltd.
the last company I worked for began using Salesforce as their contract repository tool; however, everything is manual labour and contracts admin personnel needs to manually enter very basic data such as Effective Data, Expiration Date, whether the contract auto-renews, and whether a termination fee applies in the event. All this is very rudimentary information and barely sufficient for effective contract management. A lot of other information in the contract cannot be managed via Salesforce unless the tool undergoes significant reconfiguration efforts. This is a costly undertaking a company which is already using Salesforce is less likely wanting to invest in.
Leaving aside that I would also have concerns around Confidentiality if a company begins uploading the entire agreement into Salesforce.
• Seal Contract Discovery & Analytics
Hi Anon, have you heard of Seal Software? Seal can find all your contracts, centrilize them into one repository, then extract all necessary information and key phrases for you. If you're from a company with a large amount of contracts and are struggling to get the bandwidth to analyse them all, tools like this can really help. See the link for some more info. www.seal-software.com/
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