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Empowering Decisions

October 24, 2018

7 Reasons to Move to a CLM Solution

7 Reasons to Move to a CLM Solution

(And no, a file cabinet is NOT a CLM solution.)

Contracts are the lifeblood of all business relationships. That’s why organizations need the ability to govern contracts and contract data holistically from a common solution framework to get the best understanding of the obligations that bind the entire company. As such, siloed approaches for looking at contracts are officially out of touch. Step away from the file cabinet.

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October 23, 2018

How A Contract Management Solution Creates Value

How A Contract Management Solution Creates Value

Integrated data provides the visibility that lets you see – and control – the big picture.

This guest post comes courtesy of Joanna Martinez — noted industry speaker, former CPO and author of the recently published book, A Guide to Positive Disruption — a three-time Kindle bestseller. She explores some of the many ways that contract management, when integrated with sourcing, procurement and other source-to-pay solutions, brings significant value across organizations.

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October 18, 2018

Reducing Sourcing Friction by Working in the Cloud

Reducing Sourcing Friction by Working in the Cloud

We’ve all gotten so used to everything being “in the cloud” that many of us have stopped thinking about what it really means for enterprise business – and what it makes possible. I dug into the topic in a conversation with Tim Scott, a Business Consultant Manager at Determine, to follow up on some of the points raised in his recent webinar on sourcing and contract management with PayStream Advisors.

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October 16, 2018

Center Led Procurement: An Introduction

Center Led Procurement: An Introduction

Realizing the Full Benefits of Center led Procurement

As procurement organizations of all sizes and maturity levels embark on transformation projects, many consider it within scope to re-evaluate the structure of their team and how procurement interacts with the rest of the enterprise. Center led procurement has been considered a best practice for some time now, preferable to both centralized and decentralized procurement structures. And yet, procurement must be constantly re-evaluating their structure and priorities.

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October 10, 2018

The Business of Contract Management.

The Business of Contract Management.

How the changing role of General Counsel is shaping contract integration.

The role of the General Counsel in companies across industries continues to evolve beyond just legal responsibilities. As businesses increase their focus on contract management due to factors like increased M&A, stricter regulatory environments and increased supply chain risk, they’re amplifying their reliance on strategic relationships and focusing on ways to avoid or mitigate the impact of contractual disputes. This means integrating contract management throughout organizations, including procurement.

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October 4, 2018

September DetermiNews: A Review of the Month in Source to Pay and Contract Management

September DetermiNews: A Review of the Month in Source to Pay and Contract Management

Contracts, in one form or another, have probably been around as long as humans. There isn’t much written on the topic until Plato got around to it in 348 BC, and even he doesn’t go into much detail. Fast forward to today, and contracts are a fact of life. Business is built on contracts, and their importance can’t be overstated. So it is a curious thing that Determine still encounters so many companies using manual or spreadsheet-based contract management processes. It’s almost as if they’re treated as inconsequential afterthoughts, rather than invaluable assets. In this September DetermiNews, we explore a month of resources focused on contracts and how to best manage and leverage them.

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October 3, 2018

Integrating Sourcing Strategies into Contracts.

Integrating Sourcing Strategies into Contracts.

Building on the value of cross-process, enterprise-wide solutions.

In the world of source-to-pay, the ROI of strategic sourcing strategies is only as good as the resulting contracts and subsequent contract compliance in purchasing. Creating strategic value from contract management entails choosing an enterprise Contract Lifecycle Management (CLM) solution that is cross-process, not process-based. More and more companies are coming to realize that contract management needs to cross through the entire organization from buying all the way to selling. Does yours?

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September 27, 2018

Two steps to maximizing your contract ROI.

Two steps to maximizing your contract ROI.

How much time, money and hours are you wasting on contract management?

According to IACCM, the International Association for Contract & Commercial Management, organizations lose an average of 9.2% of revenue each year due to substandard contract management, lack of oversight and no visibility. Survey results in the 2018 Sourcing & CLM Insight Report from PayStream Advisors show that 58% of companies are still using manual contract management processes. These two stats are not a coincidence.

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September 25, 2018

Agile contract management for the self-service age, part two.

Agile contract management for the self-service age, part two.

Accelerating your contracts from dotted line to bottom line.

In part one of this two-part blog series, we looked at some of the issues around self-service contracts currently – the need for digitization and automation – and how those are impacting organizations today. In part two, you’ll learn how (and why) businesses are taking inspiration from consumer-facing processes to speed up self-service contracting, and what’s involved with your own digital transformation.

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September 19, 2018

Agile contract management for the self-service age.

Agile contract management for the self-service age.

Four ways to ensure your contracts are ready for a one-click world.

Contracts are the lifeblood of modern-day business. They are used to protect against risk, establish incentives, hire employees, install systems and plan for the future. But at most organizations, contracts are executed, edited and stored using 25-year-old technology. In this two-part blog series, we’ll explore how moving to self-service contracting is the future of business. In part one, we look at the state of contracts now and identify room for improvement.

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