Zero to Hero - Maturing your CLM Processes
- 1. From Contract Zero to Contract Hero Four Steps to Maturing Your Contract Management June 17, 2014
- 2. Session Participants Kent Perkocha Managing Director Law Department Consulting Apurva Munshi Senior Vice President Sophia Valentim Senior Corporate Counsel Kevin Clem Senior Vice President Sales and Customer Success
- 3. Steps in Contracts Continuum Centralization Automation Efficiency Improvements Strategic Alignment
- 4. Under Developed Developing Operationally Efficient Best In Class Contract Processes Not well defined or documented; inconsistencies in request to negotiation to renewal processes Defined but lack proper documentation and standardization; no central intake and management function exists Align with technology and are well defined and documented; centralized intake and process management Continue to evolve based on dashboards with KPIs and on-going feedback loop Contracts Team Operate in non-standardized, ad hoc manner; manage contracts in personal environment (local drives, shared drives, Outlook) Templates and process exist but users lack training and consistency of use; few reports used in managing of work; handle requests from variety of sources with no priority mechanism Trained on process and tools; work in a consistent manner; increased efficiency through proactive management; utilizing and maintaining sophisticated clause library “Centers of Excellence” around tools and process; moved past “sign and file”, and looking backwards at contract success and failure, and forward at risk management and value maximization Contracts Tools and Technology No defined contracts technology strategy; various point solutions lacking enterprise-wide benefit; no standard clause library Department wide tracking of work, but not in best in class systems (tracking in spreadsheets or home-grown databases); clause library and templates may exist, but are not maintained Using best in class technology that automates workflows, and provides insight into contract performance; automatic notices for key dates and events Utilized to fullest capacity, allowing for: client self- service, electronic signature, risk identification, maximizing renewal/renegotiation windows, and compliance monitoring HBR Contract Maturity Model Proprietary and Confidential. Not to be shared or distributed without the permission of HBR Consulting.
- 5. Q&A
- 6. Thank You