Contract Management Software - SharePoint As a Platform for Contract Management
SharePoint As a Platform for Contract Management, 03.23.2016
SharePoint is a multi-purpose platform focused on connecting people with information. While it has out-of-the-box contract management capabilities, can it provide a robust contract management solution? Please join Corridor Company CEO Russ Edelman for a 45-minute webinar on Wednesday, March 23, 2016, at 11:00 am EDT when we discuss its out-of-the-box functionality, and how and when it should be considered as a platform for a robust contract management solution. We'll also share information regarding our Contract Management Business App for SharePoint -- CM[.app].
Contract Management Software - Contract Management Systems | Build vs. Buy from the Trenches
Contract Management Systems | Build vs. Buy from the Trenches, 01.26.2016
Contract Management, like other critical business functions, requires a combination of the right people, processes and systems. When it comes to a contract management system, many organizations will start with a discussion regarding whether it makes sense to Build vs. Buy a system. It may seem fairly obvious where a provider of contract management systems stands most of the time. However, under certain business conditions, there is merit to building a system. So one may ask: When does it make sense to Build vs. Buy and can you please share some experiences?
In this webinar, we took a hard look at the two contenders, Build vs. Buy. Weighing in on behalf of Build was Ryan Thomas, CEO of Timlin Enterprises, a global provider of custom-built Microsoft solutions, one of which was a customized contract management system for a specific client. Speaking on behalf of Buy was Russ Edelman, CEO of Corridor Company, a Build veteran who switched to the Buy corner.
Together, Ryan and Russ discussed the advantages and disadvantages associated with each approach. Our speakers examined the details of specific use cases and discuss how similar contracting challenges (e.g., template creation, automated contract approval, e-signature integration, obligation tracking, etc.) were handled differently from Build vs. Buy approaches. Key topics included the following:
• Build – Strengths & Weaknesses
• Buy – Strengths & Weaknesses
• Cost Considerations in Review
• Build Use Case Profile
• Buy Use Case Profile
• Declaring a Winner – What Works for You
Contract Management Software - Incorporating a Migration Strategy into a Contract Management System Initiative
Incorporating a Migration Strategy into a Contract Management System Initiative, 11.18.2015
When a company launches a contract management initiative, a broad collection of team members often have different priorities in mind. For some, it is the implementation of a contract management system to create, store, manage, and negotiate contracts. For others, there is also a key need to administer contracts effectively to ensure that they are performing properly. And for others still, migrating existing contracts and supporting documents into the future target system is a crucial goal. All three priorities are important and need to be sequenced properly with clarity around project dependencies.
In this 45-minute webinar, Russ Edelman, CEO of Corridor Company, and Jeff Turner, VP of Sales at Brightleaf Solutions, explored how a company can properly start its contract management initiative. Key topics included the following:
• Establishing a Common Definition – Three Dimensions of Contract Management
• CM System Deployments – Doing an Implementation Right
• Contract Migration Defined – A Practical Guide to Migrating Content
• The Value of Weaving CM System Deployments Together with Migration
• Practical Next Steps to Consider
Contract Management Software - Practicalities of Establishing a Contract Management Center of Excellence
Practicalities of Establishing a Contract Management Center of Excellence, 10.01.2015
The ongoing challenge of establishing a standardized approach for contract management within an organization continues to be a struggle on many levels. Template and clause consistency, standard approval processes, negotiation best practices, obligation and risk management: these are some of the vexing issues where ready answers often elude us.
Why? Because everyone has just a bit of a different opinion on how to get things done and no one has the time to compare notes and map a path forward. This problem is greatly compounded for organizations with a global footprint and all of the additional challenges associated with serving the global marketplace. Yet, the inefficiencies, risks, and potential opportunities, when looked at objectively, easily justify the effort to successfully move forward with establishing contracting standards across the organization.
On a practical level, these standards can best be achieved by the establishment of a Center of Excellence or CoE. The concept of the CoE has been in existence for quite some time yet it has not been readily embraced as a formalized and structured framework in the Contact Management ecosystem. Consequently, we have not realized the material benefits of reduced cost and improved quality through the application of center-based, shared services.
On October 1, 2015, thought leaders from British Telecom, SeyfarthLean Consulting, and the Corridor Company worked together to provide the first introductory webinar into establishing a Contract Management Center of Excellence. The session was hosted byTim Cummins, CEO of IACCM.
Key discussion topics included:
· Establishing a CM CoE Vision
· Developing a CoE Roadmap
· Core Components of a CoE
· The Role of Shared Services
· The Care and Feeding of a CoE
Contract Management Software - Best Practices for a Contract Management System RFP
Best Practices for a Contract Management System RFP, 08.19.2015
In this webinar, we reviewed best practices for issuing an RFP for a Contract Management application.
Among the subjects we discussed are RFP Readiness -- that is, understanding product landscape as well as your own requirements and current practices -- outreach strategies, down-select criteria, and the use of evaluation tools such as a functional comparison matrix, use cases, and implementation scenarios. Live polling and Q&A added insight as to where webinar participants were at in their search for a contract management solution. Whether you are ready to issue an RFP or are just starting the process, this webinar is for you!
Contract Management Software - Corridor and VSP Global | Customer Success in Action
Corridor and VSP Global | Customer Success in Action, 06.17.2015
VSP is a global enterprise and at VSP, procurement plays a significant role not only in securing goods and services, but in meeting the complex needs of customers within the organization, streamlining processes, building relationships with suppliers and staying nimble, all while paying constant attention to the bottom line. VSP selected Corridor Company's Contract Management [.app] for SharePoint or CM[.app] as part of its process improvement initiative aimed at introducing efficiencies, improved vendor management, and downstream cost savings for the procurement organization.
On June 17, 2015, Corridor's CEO, Russ Edelman, and VSP's Chief Procurement Officer, Greg Tennyson, discussed the implementation process for CM[.app] -- including contract creation, approval, negotiation, DocuSign support, contract metrics and more -- the value the solution brings to VSP, and future plans for the implementation. In the webinar, we looked at VSP's procurement needs and the specific functionality CM[.app] brought to VSP. The webinar included a frank discussion of how Corridor and VSP's teams planned out a mutually acceptable roadmap and circumvented potholes on the way to the current successful implementation. Greg Tennyson is a well-known practitioner with over 30 years of experience in procurement. He has an unrivalled perspective on procurement's evolution from a respected back-office function to a C-level profession, and his participation makes this webinar of special value to procurement professionals.
Contract Management Software - Your Business Users & Contracts | What Will Make Them Care?
Your Business Users & Contracts | What Will Make Them Care?, 05.27.2015
When contract professionals consider automation, they invariably do so in the context of the legal, procurement and contract management teams. The reality, however, is that contract management touches a variety of users throughout the organization. For a contract automation initiative to be truly successful, it needs to also address the needs of the non–contract professional.
Given this conundrum, it is incumbent upon the contracts team to identify what can make a difference for those outside the realm of the hands-on contract managers. Corridor addressed this question on May 27, 2015, in a webinar titled “Your Business Users & Contracts | What Will Make Them Care?”
In this webinar, we covered the following:
• Survey results from non–contract professionals: what interests the non–contract manager?
• The top 5 roles/personas from the survey and exploration of their unique requirements
• Common themes (and interpretation) expressed by non–contract professionals regarding their interests in contract access/automation
• Key techniques that can be employed to ensure that your user community understands how a well-defined contract process can make their lives easier
Corridor CEO Russ Edelman shared experience and intelligence from Corridor’s global client base and industry leaders to show who benefits from contract management systems, and specifically how they benefit. This webinar proved to be informative for users looking for better access to contract information from an adjacent business function as well as those seeking to show their colleagues the broader value of a modern contract management system.
Contract Management Software - Contract Analytics at Your Fingertips: Contract Visibility through Real-time Charting and Automated Reports
Contract Analytics at Your Fingertips: Contract Visibility through Real-time Charting and Automated Reports, 04.22.2015
With numerous contracts in flight representing hundreds of thousands or millions of dollars in sales and spend for your company, it’s important to know – at a glance – the status of your contracts, any process bottlenecks which exist, and any actions which require your attention.
In a webinar on April 22, 2015, we demonstrated our software, Contract Management [.app] for SharePoint version 6.2. With its graphic, charting and improved reporting capabilities, this version of CM[.app] provides Contract Managers, Attorneys, Sales and Procurement Professionals and Executives with the ability to
• have a birdseye view of contract analytics
• drill down to supporting details on the fly
• have the system take action automatically with notifications and escalations if events do not take place on a timely basis.
In this 45-minute webinar, we provided a context for how companies must identify and then organize key contract analytics. We then demonstrated how CM[.app] 6.2 addresses these important requirements.
Contract Management Software - Managing Your Contractual Obligations | Best Practices
Managing Your Contractual Obligations | Best Practices, 03.25.2015
The management of your contractual obligations is critical not only to insuring your contractual compliance, but also to overseeing the deliverables that you may be contractually entitled to receive. Proactive management of your contractual obligations reduces millions if not billions in risk - and recoups similar amounts in opportunity costs. Little wonder that post-execution tracking of obligations has received increased attention from business executives, government officials, and the media at large.
In this webinar on March 25, 2015, we shared best practices for managing your contractual obligations. We examined general considerations and discussed various options for managing these obligations within a contract management tool, and specifically, Corridor's Contract Management [.app] for SharePoint, CM[.app].
Contract Management Software - Contract Management Automation | Overview from A to Z
Contract Management Automation | Overview from A to Z, 02.25.2015
Do you struggle in managing your contracts internally or externally? Has your General Counsel tasked you with automating the creation of your contracts or with introducing efficiencies into your existing processes? Or perhaps you are looking to learn more about how other companies approach their contract lifecycle management process?
If so, please review our webinar Contract Management Automation Overview from A to Z. This session provided an executive view of the issues, challenges, and solutions for those in the contract management space. We specifically discussed:
• Costs and Risks When Contracts Are Not Adequately Managed
• Dimensions of Contract Management, Including Contract Creation, Repositories, Reporting and Obligation Tracking
• Contract Management Maturity Model – Where Is Your Organization?
Using case studies, we illustrated how contract management has been dramatically improved through automation at several organizations.