Hi Navdeep - look this forum is looking a bit devoid of advice, isn't it ? So here goes....
A few years ago, like you, I turned my mind to some KPI's in this area - these were purely time bound. We've ditched them now. For mine, it sent the wrong message that the outcome we were looking for was efficiency. Sure, it's important to be timely, but what is more important is getting the right outcome for the business - and sometimes being focussed on timeliness can run contrary to that focus. Instead, we have an automated email that we're now piloting that is sent 3 months after contracting to an end user representative asking them how things went and how they're going.
Will it be a better measure ? Who knows. It's certainly different to what some others with a different focus have used. But for us, it fits with our philosophy of first and foremost getting the right outcome.
I hope this helps to start some good discussion in this post.
The below tool gives contract management solution with capability to assign respective stakeholders as owners.
Organization - Sirion Labs - www.sirionlabs.com Most Innovative truly digital CLM tool that provides insight driven granular Contract Authoring, Managing Commercial and legal aspects of the obligations, Provides trends powered with BI, Assists in Change variations, Helps develop a Price Book, Provides Financial Management support, Assures Efficiency and never ends
Dear Carrie, I have experience from pricing changes both during the negotiation process and during the contract lifecycle. Our clients have especially found this as an effective tool during negotiations to demonstrate risk/work-impact if the other party is requesting terms transferring an extensive part of the risk/work to them. By showing the cost-impact, the incentive for price increase becomes rather obvious which strengthens your negotiation position. Kind regards, Madeleine Willyams - Advokatfirmaet Negota AS, Norway.
Personally, I would say the 10 are still applicable today (Jan 2020). I also think the point about how fast the world is moving - particularly technology wise - is true and it has only sped up even more in the past 5 years.
Kia ora Hanelie. I'm surprised that you haven't received a response yet. Many of the contract automation software tools in the IACCM/Cap Gemini register on our website have dashboards which report operational contract management i.e. status of contract changes, service level performance, financials, risks etc. So to your Oracle tool? For example, the GovernX tool from ISG is now integrating into 360 degree surveys to also include 'the voice of the supplier', which would also be part of a balanced scorecard. I will reach out to you directly to discuss. Our member meeting in Wellington NZ on 18 July will also discuss this topic. Bruce
In terms of the 8 different payment schemes I was specifically referring to what we call 'payment curves' (see attached graphic) as opposed to payment regimes such as cost+ (time and material), fixed price, cost + fixed fee, etc. In this light these are grouped into 5 main families with a couple of variations inside each. These are as follows:
- 'all or none' payment curves
- Linear payment curves
- Non-linear payment curves
- Alternative payment such as demerit point and visual payment curves
- Matrix payment curves
The intent of this discussion is to simply highlight that the choice of payment curve, similar to the choice of performance measure and level, can have a significant impact on the success (or otherwise) of the overall performance management framework. My blog (www.performancebasedcontracting.com) has 3 posts specifically on this topic including the graphics.
I hope this helps and answers your questions. However, please let me know if you have any further questions.