Contract management has become a critical business function within many organizations and a top initiative for C-Level Executives. As Gartner puts it, contract lifecycle management is no longer a "nice to have" initiative, but rather a "need to have" business practice. Those who have implemented a CLM system see these benefits:
- 82% reduction in contract approval time [Aberdeen]
- 9% (of annual revenue) improvement in profitability [IACCM]
- 20-50% reduction in contract management expenses [Goldman Sachs]
Given the revenue, expense and profitability impact as well as the risk associated with improper contract management processes, while it may present a variety of challenges, it is no longer one which can be avoided.
In this 45-minute complimentary webinar, we discussed about shared our recommendations for planning your contract management roadmap.
Specific areas of focus included:
- Client Readiness and Contract Maturity Goals
- Implementation Considerations
- Delivery Considerations
- Internal and External Participants and Responsibilities
- Ensuring the Success of Your Constituents
- ROI Justification
- Samples of Case Studies
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