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June 10, 2015

Why legal departments need tailored solutions for unique challenges

Why legal departments need tailored solutions for unique challenges

For legal departments, technology, media, and telecommunications (TMT) regulations have become more complicated over the last several years. The TMT industry is a high-stakes field with a wide array of major players, including cable and satellite networks, social networks, film and television studios, and many others.

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May 29, 2015

Whole Foods Markets Shift Their Cost Model as They Target Millennial Shoppers

Whole Foods Markets Shift Their Cost Model as They Target Millennial Shoppers

In March, I wrote a post for this blog about the Whole Foods grocery chain in which I asked the question: “How Much Can Procurement Change on Their Own?” I looked at how Whole Foods has defied the low margins commonly seen in grocery retail by employing an operational strategy that merges brand reputation, consumer identity, and high-quality products in justification of higher prices. Their procurement team is part of a top to bottom approach to creating the right value proposition for their customers.

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May 27, 2015

Focus on what matters most by silencing contract management “Noise”

Focus on what matters most by silencing contract management “Noise”

Before I entered the world of software and technology, I spent over 10 years in manufacturing. I hear engineers often discussing what’s called “signal-to-noise” ratios. Like tuning an old AM radio, sometimes you get a good signal and the background noise is minimal. At other times, the static and buzzing is so intense that you cannot hear what the station is trying to broadcast. This is where enterprise CLM comes in.

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May 21, 2015

eSourcing and eRFx: Procurement terms to know

eSourcing and eRFx: Procurement terms to know

Remember the days when you asked for information from a vendor and they would send you a slick brochure? Some in fancy packages, others oversized (so they stand out). When you asked for a proposal, you’d get a 30-page bound book while others emailed you a PDF, or you got invited to a private page on their server to access the information.

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May 1, 2015

CLM vs. ECLM: Which comes first?

CLM vs. ECLM: Which comes first?

I have been blogging about contracts at the core of business for some time now, but it appears there is still some confusion as to what the best way is to get started – a holistic approach or a functional/departmental approach. CLM vs. ECLM. The answer is actually both. The term CLM or Contract Lifecycle Management is used right along with ECLM or Enterprise Contract Lifecycle Management. One letter (E), however, makes all the difference in the world; even though it is most likely you will begin with a departmental or functional approach, your planning and thought process must be around the enterprise.

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