This is definitely something that should have greater consideration in my organisation, I have been quite vocal in pushing it. I have worked in teams where particular members have found the lack of bounds extremely stressful as they feel they are crowded out or put upon by the more vocal members, who are equally frustrated it takes so long to get things done. Clarity in defining the roles and responsibilities can often be an enabler.
• Airbus Defence and Space Limited
Agreed, this is a great article and really gets you thinking about the behaviours instilled within your own immediate team. If we cannot get the behaviours and roles clearly specified for our own team members first we are setting ourselves up to fail in the wider team and externally.
Agree - this was quite an insightful article. I've always believed that it should work in reverse - that you should set the objective and then leave it up to individuals to work out how to get there, which is what the article says except for specifying that their roles need to be clear. I believed that if roles were less clearly defined then it gave people scope to expand their remit, however I can see why this can cause confusion.
I think it's a fabulous idea- especially in the US where maternity leave is paltry at best, and childcare costs are astronomical (in consideration of the lack of subsidies). Many working mothers (and I'm sure some fathers) have an emotionally difficult time leaving their children and as a result, stress increases. As stress increases, performance decreases. In my opinion, ny accomodations that a company can make to allow parents to spend more time with their children will only produce better long-term results (i.e. happy staff = longer term employment/loyalty = more output).
Thanks, Phyllis, I am glad that you found the webinar helpful; it was certainly a great session to moderate, with some really good questions at the end. I agree - we often don't pay enough attention to the learning style and the impact that has on how information is absorbed. Paul Branch
Me too. I would be interested to hear what others have found in selection of a CLM.
I am not a buyer of CLM solution but a seller. I work for EY and have developed a easy plug-in and use SharePoint based CLM solution. Would be happy to participate in the RFP/RFI process. My email ID is: Kulbir.firstname.lastname@example.org.
As for my tool the below features are available at extremely reasonable pricing and very easy to use format.
Integration with Clients' system
Repository of Contracts
Templates uploading and downloading
OCR File Scanning
Dashboards and Reports
Alert and Notifications
Multiple Filtering options
Selecting form Templates
Download Reports/Export meta data to excel
Upload templates to a selected workspace
Create new user accounts
Reset user accounts
Edit access to users
create new workspace
upload templates to a master database
Easily Customizable App UI
Contract Clause Library
Intake form that can integrate with single sign on (SSO)
Compliance with other regulations
• Fire and Emergency NZ
Hi Geoff. We found a lot of the systems on the market, whilst all really good, focussed on workflow. Emails and notifications of moments and issues galore. I've always found that you don't need that if you have the right team, this isn't needed. They know what thy have to do, what stage in the process and when. So that for me was a major issue.
The second thing is a lot of them have lots of functionality around the back and forth and negotiation of clauses. I'd suggest again if you have really good templates and good early engagement, you reduce the back and forth required and can get the benefits of quicker turnaround and e-signatures without a bigger system.
I would flag that you should not underestimate the work required to get your current information into the new system. It's probably going to be more than the annual fees to set up. In the RFP / RFI - get them to tell you their plans and costs for getting the records in the system. It's not just the scanning of records, but also the information in the contracts (milestones, conditions) that need to come in.
Finally, I'd really recommend that you bring in as many people as possible into this process, especially in the procurement team. The users and the team are the ones that will have to use this solution going forward and keep your records in that format for all of those wonderful visuals and reports that the new system spits out. I've seen and heard of many instances where the new CLM has failed because the team and users haven't brought into the solution.
We've been lucky with our solution (it's a simple one that we developed in house) because :
(a) it wasn't an all at once deployment. People have had time to think about the system and what it could do
(b) the team have then been able to take the system to an even higher level than anything I had in mind. Templates for contracts, evaluation and issues registers - all really awesome stuff that went way beyond my initial ideas.
I hope this aids your thinking, and if you want to talk further, please message me.
• BDO USA LLP
I saw your post this morning and wanted to reach out about your question. I lead the consulting practice at BDO USA LLP that focuses on precisely the scenario you are asking about. We are solution/platform agnostic and seek to ensure the "right" solution - regardless of vendor - is selected so that something that is too big or too complex isn't inadvertently chosen from the many, many good solutions out there. Feel free to give me a call at 703-770-4453 or email at email@example.com. I'd be happy to share my thoughts with you. Thanks! Tom
• Nimblex by EBMS
Our experience is to stay away from the big overnight system implementation but to partner with a super flexible technology so that you can start small and then incrementally digitise the processes the way you want and your staff would like to work. This is a more incremental way and allow for the necessary change management to run parallel.
Flexibility is the key i.e. shape the software around your processes, framework, desired way of working and policies. Do not try to shape your work procedures to fit a certain software. A good example is getnimblex.com/case-studies/yvw-procurement-and-contract-management/
In the US, Texas or New York are largely considered "neutral territory" whereas in Europe, until very recently UK law was considered neutral. I think that may change with the recent political upheaval.
• Ministry of Defence
Or try international trade law?
• Legal and Commercial Training Limited
In the case of one party proposing Indian law and the other proposing Singapore law, the parties may well choose the law of England and Wales as both Indian law and Singapore law are based upon English and Welsh common law. (Note that there is no such concept as "UK law" as one commentator has suggested below).
However, a party should consider a wide range of factors before proposing a particular governing law and should weigh up the legal and commercial advantages and disadvantages of all the options.
One factor may be the degree of certainty that a contract will be interpreted in a particular way. English law adheres to the doctrine of binding precedence. Some legal systems do not. This could lead to significant uncertainty as to how the law will be applied.
In English law, it may be perceived that the courts allow a greater degree of freedom of contract. Subject to certain exceptions, freedom of contract in English law means that commercial parties are completely free to make disastrous bargains. This illustrates the comparative reluctance of the English courts to interfere on policy or other grounds to rewrite the parties' contracts for them.
For example, in English law it is possible, provided very clear wording is used, to include an exclusion clause that excludes any and all liability whatsoever, even for a deliberate breach of contract. And there is still no recognition of a duty of good faith being applied generally to commercial agreements (but watch this space!). This may or may not be an advantage to you but it remains the case that the courts are likely to give effect to the wording of the contract without imposing their opinions as to what does or does not amount to good faith.
And you may wish to consider the approach of a particular legal system to particular clauses.
For example, in English law, a liquidated damages clause will be subject to the clarification set out recently by the Supreme Court with a subsequent judgment, applying that test, indicating that a freely-negotiated LD clause is likely to be upheld subject to the requirements set out by the Supreme Court. Under UAE law, such a provision would be subject to Article 390(2) of the Civil Code and either party may apply to the court to adjust the agreed amount of compensation so it is equal to the loss. If Indian law were to apply, we would have to consider the effect of section 74 of the Indian Contracts Act 1872.
English law will also recognise an asymmetric jurisdiction clause.
And it may be that the choice of law clause will be reflected in the choice of jurisdiction. So, English law and the English courts. If the choice of courts is to reflect the choice of law, it may well be the consideration should be given to the efficacy of the court system and the technical expertise and other qualities of the judges.