In a recent webinar co-presented by IACCM and Determine (available on demand here), IACCM CEO Tim Cummins discussed the history of global contract lifecycle management (CLM) efforts reaching back to the 1990s. As he pointed out, the CLM approaches of the time had a tendency to overemphasize centralization and standardization for the sake of cost efficiency. Though this strategy did bring some short-term operational wins, it both alienated local users and created regulatory and/or accounting complications for the company and their suppliers.
Out with the old, in with the new as change in 2017 continues to accelerate. The keywords this year in procurement and contracts are – more than ever – agility and flexibility. We offered up plenty of insight and learning this month to take you beyond the basics in how to achieve both. In case you missed any of it, enjoy the following highlights.
In Part One of this two-part series, we explored the logistical complexity of deploying contract lifecycle management (CLM) worldwide. In Part Two, we lay out the requirements that a CLM solution will need to meet to be successful on the world stage.
A new incoming administration, Brexit, global power shifts…. The world is changing—are your contracts ready?
Over the holiday break I came across a recent article in Forbes Magazine. A Forbes study, conducted jointly with Hitachi of 573 global companies, reveals that just 13% of them have integrated digital technologies enterprise-wide, and 51% plan to dedicate 10% or more of revenues to digital transformation over the next two years.