In the field of contracting, use cases mostly relate to smart contracts - ie automated elements related to financial exchange or areas such as service level credits.
Other examples include blockchain as a platform sitting across multiple applications and driving and recording data flows through APIs.
Finally, there is use in supporting supply chain performance, again through integrated data and information flows and consolidated capture
Tim, I have always debated blockchain solution implementtaion from a point of view of reducing cost of verification (reduces the cost of disputes/issues/governance) and reducing cost of networking (to enable the ease of acceptance of the solution).
I have also debated and argued my understanding of Smart contract separated from blockchain. One need not require blockchain led solution for smart contract and so yes Service level Management, Credit/penalty calculations, payments, even contract negotiations and quite a bit can happen with Smart Contract.
But when it comes to blockchain and hence complete decentralization, the use-cases starts to blur.
• Data Gumbo
Here are some key benefits of blockchain
-Provides immutable record of truth; neutral, third-party data to verify data integrity
-Delivers visibility and transparency into real-time contract and operational performance
-Enables automated payments once contract terms met
-Significantly reduces days sales outstanding (DSO) and frees up working capital
-Streamlines business processes; alleviates administrative burden and renders paper invoices obsolete
-Permits treasury and financial management in real time
-Integrates with leading ERP systems to alleviate transaction friction; provides cryptographic auditability
You are right that Cloud contracting is still in an emergent state. For anyone who is either offering or considering buying such services, you will find IACCM's research report on 'as-a-Service' contracting is helpful; it includes a set of principles to support negotiation or assessment of the more contentious / complicated terms. See www.iaccm.com/resources/
Let me start with the value proposition. We are currently running a survey about this in the context of an organisation's ability to manage contracts in light of coronavirus. It is demonstrating the importance - and results will be available next week.
In terms of implementations in Melbourne, we will need to ask! I'll arrange for a question to be sent out.
And finally, have you tried the selection tool available on this site?It should provide you with a good shortlist to consider.
Hi Mark, it will good to see the feedback from members and you can also enter your requirements into our independent register of contract management tools at www.iaccm.com/resources/contract-management-software/ This works like an RFI to match market capability to your requirements and will help to segment the tools into where they fit on the contract management lifecycle e.g. authoring Vs managing contracts.
It was good to see you at our last 'physical' member meeting on 5 March before COVID-19 turned us all 'virtual'. Please also call me on 0407 535835 if you want a chat about tools.
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
Our Company has Ariba as well. We utilize DocuSign within Ariba. Which we began using at the end of 2018. It has eliminated the process of the additional step of uploading a completed document manually into Ariba. DocuSign sends the completed document back to a folder of your choosing to the contract workspace.
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.