At Mindlance we believe that to be successful a contract lifecycle management initiative must have the correct balance between process, organization and technology. Each of these elements must be aligned in order to optimize the CLM process for the organization and realize the true benefits of an automated solution.
Contract lifecycle management initiatives are littered with examples of projects where this balance wasnít maintained. These examples demonstrate that lack of focus on one of these elements can lead to critical issues in the project:
Lack of Process Focus
- Undefined objectives for the project. What business problem(s) am I trying to solve?
- The true contracting process across all organization departments isnít understood and the end state isnít defined.
Lack of Organization Focus
- Lack of strong senior management support for the CLM initiative.
- Misunderstanding of the impact a CLM system can have on the organization.
- Low adoption of solution
Lack of Technology Focus
- Underestimate the complexity and effort to install a contract management system.
- Selected technology solution doesnít provided critical functionality to support the contracting process
- No analytic and reporting strategy
At Mindlance we have developed a proprietary methodology to implementing contract management solutions that will drive the correct project activates needed to successfully implement a solution while maintaining the proper focus on the process, organization and technology.
This methodology drives the CLM project into critical stages with activities that will drive the correct focus.
For more information on how this methodology coupled with Mindlance’s established best practices can be utilized to reduce the risk of you organization’s CLM initiative please contact Mindlance at: firstname.lastname@example.org