Hi Emilee - that's an awesome outcome. Can I ask if you've got positive feedback from suppliers as well as internal stakeholders ? Also, given that you've achieved this, what's your next challenge - making the RFP process easier for them,, reverse auctions for your tangible products ?
Thank you for your comment and yes there is signficant research and resounding evidence to confirm that visuals can support clarity and understanding in contracts - no matter which element of the contract. And yes we would deem it perfectly acceptable to have graphics in certain sections - not all. There are some elements of the contract that lend themselves to visualization more than others. There is a lot of material in our Resource Library on this topic and this particular piece of research should help you too:
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/
I understand your requirement. I am a CCMAP, IACCM certified Contract Management professional and I work for the most innovative CLM tool pioneer organization.
Challenges faced by most organisation during the RFI/RFP phase can be understood as per below:
The client wanting the lowest price, the highest quality, access to innovation and new ideas and products, extensive audit rights, and the flexibility to renegotiate to get a better deal. In this kind of environment, it can be challenging to form a close, business partner relationship.
Challenges faced by most organisation during the Implementation/post deployment phase can be understood as per below:
Change of specifications, change of scope, change of marketplace dynamics, change of personnel, minimal joint planning and joint problem solving
The above problems are faced when you do not have an effective CLM management process and an alliance manager.
The major problem is that organisations tend to follow a positioned approach instead of principled approach and do not come up the relationship continuum pyramid.
You may want to contact us to provide you with a best CLM solution that will help you build good Supplier relationship management process and likewise.
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
Contact Details - firstname.lastname@example.org
Seplat Petroleum Development Company Plc
yes, we are following soft copies of contract, but we use pdf format for the transfer of documents, not any contracting software. We are using it for few years now, and it works good. We have reduced the filing storage requirements to 10%. If you have any specific question, feel free to ask.
• Mythics Inc.
Yes - we complete over 90% of our contracts with electronic signature and delivery unless mandated by our customer. It allows for a shorter turnaround times and and a significant reduction in physical storage requirements.