#digital contract management

[mydockusaccount]

With Dock 365 Digital Contract Management Software, you can simplify and improve your contract management process. Dock's automated workflows and collaborative tools provide a detailed view of the entire contract lifecycle allowing you to manage contracts more efficiently.

[evonnebaker]

The ability to automate the contract process and customize the digital contract workflow will significantly boost the global digital contract management market.

[just2bruce]

Geopolitics and shipping

Geopolitics is having a great effect on ocean shipping today. Trade is where wars are fought now. It may have been true in the past as well, but the means and methods are changing rapidly. I listened to this podcast featuring Jon Thompson, co-founder and commercial director of Ambrey, an international risk management company. He made several interesting points. What’s become possible only…

[hospitalitybussines]

Top Managed Network Services Companies

The dynamic landscape of IT infrastructure and services has fore fronted the need to provide flexible external support to achieve business objectives. Process standardization assisted by low-cost labor to drive innovation and value transition guides the managed network services in generating organizational growth. Managed network services streamline the chain of operations linked to security, network administration, and data backup, enabling the companies to achieve the benchmark of digital transformation.

Decentralization of IT services across the industries post-pandemic has called for backing remote workstations through managed network services. Hybrid working infrastructure and adoption of cloud management services have poised the upward growth curve procured through managed network services.

[razorsignclm]

Maximizing Efficiency in Contract Creation: The Ultimate Guide to Contract Lifecycle Management (CLM) 

Introduction: 

Contracts serve as the foundation of business transactions, yet their creation can be complex. Contract Lifecycle Management (CLM) tools are transforming this process, offering efficiency and simplicity. Let’s delve into how CLM tools streamline contract authoring. 

The Digital Evolution of Contract Authoring: 

In today's digital landscape, contract authoring is shifting from manual to automated processes. Automation streamlines drafting by merging clauses and organizing data seamlessly, ensuring accuracy and saving time. This evolution promises a future where errors are minimized, and workflows are intuitive. 

Unlocking Enhanced Efficiency, Simplicity, and Smarts: 

1. Automate and Accelerate: CLM tools automate contract creation, expediting the process and reducing human error. 

2. Intelligent Authoring: Customizable templates adapt to specific requirements, enhancing flexibility and ensuring precision. 

3. Facilitating Teamwork: Centralized platforms facilitate collaboration among team members, streamlining communication and enhancing productivity. 

4. Ensuring Uniform Excellence: Standardization guarantees consistency and clarity across contracts, while data-driven insights offer a comprehensive overview of contract landscapes. 

Expanding Horizons: 

Automated contract authoring not only simplifies processes but also fosters teamwork and improves accuracy. Businesses adopting CLM solutions are well-positioned for growth and innovation, navigating contract challenges with confidence and seizing new opportunities. 

Conclusion: 

The adoption of CLM tools marks a paradigm shift in contract authoring, offering efficiency, simplicity, and reliability. By leveraging these innovative solutions, businesses can streamline operations and unlock their full potential. Embrace the future of contract authoring—simpler, smarter, and primed for success. 

[madgeek1]

Ensuring Compliance and Mitigating Risk: The Impact of Contract Management Software on Enterprise Agreement Processes

In enterprise agreements, Contract Management Software (CMS) plays a pivotal role in ensuring compliance and mitigating risks. At its core, CMS is a digital solution designed to streamline the entire lifecycle of contracts, providing a centralised hub for their creation, execution, and management. Enterprise agreements, serving as the backbone of business relationships, require efficient execution and adherence to legal standards. Navigating compliance challenges, potential discrepancies, and evolving regulations poses risks for organisations, emphasising the need for strategic contract management.Contract Management Software proves to be a vital ally, automating the contract lifecycle and offering features like centralised repositories, alerts, and version control. These tools not only enhance transparency but also facilitate effective monitoring of compliance-related tasks. With robust reporting tools, CMS empowers organisations to make data-driven decisions, ensuring they meet regulatory standards. Embracing CMS is an investment in the resilience of the entire enterprise agreement ecosystem, reducing errors and strengthening compliance. In conclusion, as organisations navigate complexities, Contract Management Software emerges as an indispensable solution, offering efficiency and peace of mind in managing enterprise agreements.

The Role of Contract Management Software in Compliance

- Streamlining Contract Processes: Contract Management Software simplifies and automates the entire contract lifecycle. From creation to execution, these tools ensure a seamless and efficient process, reducing the likelihood of errors or oversights. - Centralised Management: CMS provides a centralised repository for all contracts, allowing for easy access and retrieval. This not only enhances transparency but also facilitates effective monitoring and management of compliance-related tasks. - Alerts and Notifications: These systems often come equipped with alerts and notification features. This ensures that key dates, renewals, and compliance milestones are never missed, preventing potential risks associated with non-compliance. - Version Control: Maintaining the accuracy and compliance of contracts is facilitated through version control mechanisms. This ensures that all stakeholders are working with the latest and most compliant versions of agreements. - Reporting and Analytics: CMS provides robust reporting tools, offering insights into contract performance, compliance metrics, and potential areas of risk. This empowers organisations to make data-driven decisions in managing their agreements. - Adhering to Legal and Regulatory Requirements: Contract Management Software serves as a strategic ally in adhering to legal and regulatory requirements. By automating compliance checks, ensuring proper documentation, and providing a comprehensive audit trail, these tools reduce the margin for error and strengthen an organisation's ability to meet regulatory standards.

Mitigating Risks through Contract Management Software

Identifying Common Risks in Enterprise Agreements and Contracts In intricate enterprise agreements, numerous risks can jeopardise the seamless execution of contracts. These risks include but are not limited to, potential discrepancies in contract terms, changes in legal regulations, and the dynamic nature of business relationships. Recognizing these challenges is the first step in proactively addressing and mitigating potential pitfalls. Detailing How Contract Management Software Helps in Risk Assessment and Mitigation Contract Management Software (CMS) emerges as a strategic tool in assessing and mitigating risks associated with enterprise agreements. These digital solutions offer a systematic approach to risk management by providing real-time visibility into contract terms, milestones, and compliance requirements. By automating workflows and centralising contract data, CMS enables organisations to identify and address risks promptly. Additionally, these platforms often incorporate risk assessment tools that analyse contract terms against legal and regulatory benchmarks, ensuring a proactive stance in risk mitigation. Examples of How Contract Management Software Minimises Risks Contract breaches and non-compliance pose significant threats to organisations. Contract Management Software minimises these risks by: - Automated Alerts and Notifications: CMS sends alerts for key dates, renewals, and compliance milestones, preventing oversights that could lead to breaches. - Version Control Mechanisms: Ensuring that all stakeholders work with the latest and most compliant versions of contracts, reducing the risk of outdated or erroneous agreements. - Comprehensive Reporting: Providing insights into contract performance and compliance metrics, allowing organisations to identify potential areas of risk before they escalate. - Centralised Repository: Offering a centralised hub for all contracts, facilitating easy access, monitoring, and management, thereby reducing the risk of misplaced or overlooked agreements.

Efficiency and Accuracy in Enterprise Agreements

Enhancing Efficiency in Managing Enterprise Agreements In the contemporary landscape of business operations, software tools play a pivotal role in optimising the efficiency of managing enterprise agreements. These tools, such as Contract Management Software (CMS), streamline the entire lifecycle of contracts, from creation to execution and beyond. By automating repetitive tasks, facilitating collaboration, and providing real-time access to contract data, these tools significantly reduce the time and effort traditionally associated with contract management. Addressing the Importance of Accuracy and Precision in Contract Drafting and Compliance Accuracy and precision are paramount in the realm of contract drafting and compliance. Minor errors or oversights can lead to significant consequences, including legal disputes and financial liabilities. Software tools, particularly CMS, address this critical aspect by incorporating features like automated compliance checks, standardised templates, and version control mechanisms. These functionalities ensure that contracts adhere to legal and regulatory requirements, reducing the risk of inaccuracies and enhancing the overall precision of the agreement process. Examples Illustrating How These Tools Improve Accuracy and Save Time in Contract Workflows - Automated Compliance Checks: Contract Management Software automatically scans contracts for compliance with legal and regulatory standards, flagging potential issues before execution. This not only ensures accuracy but also saves time by proactively addressing compliance concerns. - Standardised Templates: Utilising standardised templates within software tools ensures consistency and accuracy in contract drafting. This reduces the likelihood of errors and accelerates the creation process by providing a reliable framework for agreements. - Version Control: Maintaining an accurate record of contract versions is crucial. Version control features in software tools eliminate confusion by ensuring that all stakeholders work with the most up-to-date and compliant versions of contracts, saving time and minimising the risk of discrepancies. - Collaboration Features: Software tools facilitate seamless collaboration among team members involved in the contract process. This real-time collaboration not only enhances efficiency but also promotes accuracy by allowing stakeholders to work together on the same document, reducing the likelihood of communication errors.

Key Features and Functionalities of Contract Management Software

Contract Management Software (CMS) is a comprehensive solution designed to streamline and optimise the lifecycle of contracts. The following are key features and functionalities that make CMS an indispensable tool for organisations: Document Storage and Centralised Repository CMS provides a centralised hub for storing and managing all contracts, ensuring easy access, retrieval, and organisation. This feature minimises the risk of misplaced or lost documents and enhances transparency across the organisation. Automated Reminders and Alerts CMS sends automated reminders for key contract dates, renewals, and compliance milestones. This functionality helps organisations stay proactive in managing contracts, reducing the risk of missing critical deadlines. Contract Analytics Advanced analytics tools within CMS offer insights into contract performance, compliance metrics, and potential areas of risk. Analysing data helps organisations make informed decisions, identify patterns, and optimise their contract management strategies. Automated Workflow: Streamlines the entire contract lifecycle by automating repetitive tasks such as approvals, document routing, and notifications. Improves efficiency and reduces the time and effort required for contract creation, execution, and management. Compliance Tracking Automates compliance checks by comparing contract terms against legal and regulatory requirements. Helps organisations ensure that contracts adhere to standards, reducing the risk of non-compliance and associated penalties. User Permissions and Access Control Allows organisations to control access to sensitive contract information based on user roles and permissions. Enhances security and ensures that only authorised personnel can view or modify specific contract details. Contract Templates Allows organisations to control access to sensitive contract information based on user roles and permissions. Enhances security and ensures that only authorised personnel can view or modify specific contract details.These features collectively contribute to better compliance and risk mitigation strategies in the following ways: - Proactive Risk Management: Automated reminders, compliance tracking, and analytics enable organisations to identify and address potential risks before they escalate. - Enhanced Accuracy: Version control, document storage, and standardised templates contribute to the accuracy of contracts, reducing the likelihood of errors and discrepancies. - Efficient Workflow: Automated workflows and alerts streamline processes, improving efficiency and ensuring that critical tasks are completed promptly. - Transparency and Accountability: User permissions and access control enhance transparency by providing a clear view of who has access to contract information, fostering accountability within the organisation.

Impact on Enterprise Operations

Efficient contract management holds a profound impact on overall business operations, influencing everything from workflow efficiency to the bottom line. The implementation of Contract Management Software (CMS) can result in several significant benefits: Streamlined Operations Efficient contract management through CMS streamlines operations by automating workflows, reducing manual intervention, and providing a centralised repository for all contracts. This leads to faster contract cycles and improved overall efficiency in managing agreements. Reduced Risk Exposure The systematic approach of CMS, with features such as automated compliance checks and alerts, minimises the risk of non-compliance, contract breaches, and legal disputes. This reduction in risk exposure safeguards the organisation's reputation and financial standing. Enhanced Collaboration CMS facilitates seamless collaboration among stakeholders involved in the contract process. Real-time access to contract data ensures that teams can work together efficiently, fostering better communication and collaboration. Cost-Effectiveness The cost-effectiveness of CMS is evident in time savings, reduced errors, and streamlined processes. Automation of tasks, such as contract creation and approval workflows, contributes to significant time and cost savings, allowing resources to be allocated more strategically. Improved Accuracy Features like version control and standardised templates enhance the accuracy of contracts, reducing the likelihood of errors. This not only ensures that contracts adhere to legal and regulatory standards but also minimises the need for costly legal interventions. Return on Investment (ROI) with Contract Management Software Implementation The implementation of Contract Management Software yields a tangible return on investment for organisations. The cost-effectiveness and ROI stem from: Time Savings Automation of contract workflows and centralised storage reduce the time spent on manual tasks, allowing teams to focus on more strategic activities that drive business value. Reduced Legal Costs The accuracy and compliance features of CMS contribute to decreased legal risks and disputes, resulting in lower legal costs and potential fines. Enhanced Productivity Streamlined processes and improved collaboration contribute to increased productivity among teams involved in the contract lifecycle. Minimised Errors and Revisions Standardised templates, version control, and automated compliance checks significantly reduce errors, minimising the need for costly revisions and corrections.

Conclusion

In conclusion, the pivotal role of contract management software (CMS) in ensuring compliance and mitigating risks within enterprise agreement processes cannot be overstated. CMS serves as a comprehensive solution, streamlining the entire contract lifecycle and addressing the complexities associated with agreements. From centralised document storage and automated reminders to advanced analytics and AI integration, these tools contribute to enhanced efficiency, accuracy, and risk management.It is imperative for businesses to recognize the necessity of leveraging these tools to navigate the intricacies of the modern business landscape successfully. By doing so, organisations can not only ensure the seamless execution of contracts but also foster better compliance with legal and regulatory standards. The adoption of contract management software becomes a strategic imperative, propelling businesses towards improved operational efficiency, reduced risks, and overall growth in an increasingly dynamic and competitive environment. Read the full article

[aishavass]

The extensive potential for Digital Contract Management in the Healthcare, BFSI, Government, Retail, Transportation and logistics, IT and Telecom...

[engineering-world]

Enhancing Business Efficiency with Contract Lifecycle Management (CLM)

Contracts form the backbone of business operations, covering everything from employment terms to property leases. Streamlining this process is Contract Lifecycle Management (CLM), a vital system that oversees contracts from initiation to completion. By automating contract creation, signing, and renewal, CLM software proves invaluable in maintaining a seamless workflow.

Used extensively by legal, financial, and sales teams, CLM enhances visibility across departments and expedites contract approvals. Electronic signatures and robust CLM software are pivotal in achieving these objectives.

Key Achievements of CLM:

Standardized Contract Development: Ensure consistency and control in creating contracts.

Strengthened Compliance: Reinforce compliance with operations, contracts, and regulations.

Efficient Contract Creation: Use pre-approved templates and legal terms for quick contract generation.

Seven Steps for Effective CLM:

Planning Stage: Create a flexible system aligned with company needs and resources.

Implementation Stage: Put the plan into action, implementing CLM software and centralizing contracts.

Pre-Contract Stage: Use the established foundation to manage new contracts efficiently.

Handover Stage: Ensure a smooth transition between contract execution and negotiation.

Contract Stage: Pay close attention to contract terms, monitor regularly, and follow a strategic plan.

Pre-Renewal Stage: Plan for contract conclusion by assessing performance and deciding on renewal or adjustments.

Post-Contract Stage: Wrap up tasks after contract conclusion, including checking termination terms and archiving.

In summary, CLM is indispensable for organizations looking to minimize risks, ensure compliance, and maintain efficiency throughout the contract lifecycle. Implementing effective CLM translates to significant cost and time savings.

For more information, contact us at: sales@oneecm.com or fill out the form on our website.

Read the detailed article: Contract Lifecycle Management

[mydockusaccount]

With the assistance of a user-friendly, collaborative software interface, digital contract management software is equipped with a number of incredible capabilities that will help you increase the quality of your contract administration procedures.

[evilgwrl]

Simon Riley x Reader

Can You Ride?

Summary: Simon can’t wait to get home

CW (MDNI): Established relationship, car sex, riding, unprotected PIV, messy, fingering, squirting, praise, lovey dovey sex, semi-public sex?

Word Count: 1,477

Masterlist

Your fingers interlocked with Simon’s, smile adorned across your face as he led you back to the car. “Y’ enjoy lunch?” He said, voice naturally gruff as he squeezed your hand.

“Mhm, was good. Did you?”

He mumbled a ‘yeah’ as he opened the door for you, the hem of your dress riding up slightly, his gaze fixated on the exposure of your plush thigh. He coughed as he walked to the driver’s side.

It was a decent drive, around 45 minutes as Simon’s fingers fumbled with the CarPlay before you shushed him away and jabbed in your address.

“I had it,” he said, eyes darting to you as you laughed.

“I’m sure you did, baby.”

His hand fell on your thigh, thumb rubbing it soothingly as you stroked up his exposed arm, gently scratching with your nails. He liked that.

You were both quiet, but it was never awkward. You knew that Simon wasn’t a massive talker, and you were both secure and comfortable enough to know that you didn’t need to talk 24/7, even if you were together.

You pulled down a long road, trees aligned on both sides, minimal cars zapping across the other way as Simon’s eyes occasionally darted down to your exposed skin. He felt himself chub up slightly.

Did you wear a sundress on purpose? You know how he felt about them.

His fingers itched for more, trailing up your leg slightly, and if you realised, you didn’t show it. His touch got more wanting, burning up your thigh as it slipped under your dress. You looked at him, eyebrow cocked as he shrugged, yet didn’t hesitate to spread your thighs, an appreciative hum passing his lips.

Being around your boyfriend was difficult. Everything about him turned you on. His height, his build, his muscles, his tattoos, when he wore his mask, when he didn’t, him being in the military and a Lieutenant and that. It was all too much, so it wasn’t a surprise to him when he finally reached your panty-clad pussy, that there was a damp spot.

He let out a huff off a laugh, his eyes not leaving the road as another hand pushed your undies to the side, pussy now exposed as you lifted your legs up, spreading them. It was taboo, if a truck drove past you they would know what was going on but you think Simon liked that, knowing someone was watching how he was making you feel and only him.

You gasped, clutching his hand as you felt a rough finger pinch your clit before teasingly rubbing it in slow, small circles. Long middle finger dipped into your slit, running through your folds as he turned to you, cocky smile on his face as he felt your wetness.

You rolled your eyes at him before stuttering out a moan as a finger plunged in, massaging the gooey walls of your sex as soft pants fell from your lips.

His strokes were painfully slow, almost like he wanted you to break and tell him to hurry the fuck up. You gasped at the fullness when another finger breached your entrance, slowly pushing in as he somehow managed to focus on the tangling depths of the tar.

“S-stop teasing me,” you gasped out, breath jammed in your throat as he let out a laugh before his fingers began to work up their speed, hitting your spots deliciously as you moaned.

Your own finger came down to toy with your clit as you noticed his eyes flicker down to it, a groan leaving his lips.

“Eyes on the road,” you teased as he shot you a dirty look.

Your breathing sped up, his fingers pumping in and out of you at the perfect pace, your walls contracting to the thick digits and squelching appreciatively at the sensation that was building.

It never took Simon long to make you cum but every time still took you by surprise. You could feel the slow build up beginning as you stuttered out a moan, your own finger rubbing desperately against your hardened bud as you dug your nails into his arm, hard enough to leave crescent shaped marks but not hard enough to draw blood.

You were a moaning mess as you gushed around his fingers, juices spluttering across his hand and onto the leather seat in-front of you as you whined at the sensation.

“Jesus Christ,” Simon practically growled before he was pulling down a dodgy side road, dirt grumbling against the tires.

You looked at him as he lowered his seat down, veiny hands instantly tugging off his belt as he shoved his pants down to his ankles, cock leaking precum as it slapped against his stomach, a soft trail of hair leading down to his heavy set of balls.

“Get on,” he grunted as you looked at him, before you were ducking down to avoid hitting the ceiling. Car sex was difficult with Simon, his massive thighs barely giving you any room but somehow you managed, wedging your own next to his as he held the base of his cock upwards.

No matter how many times you guys had sex, it always took you a minute to grow accustomed to his cock, the sheer girth and length stretching you to the max.

You straddled his lap, tits flush against his face as he pulled the straps of your dress down, tongue flicking out to wrap his laps around a puckered nipple whilst you lowered yourself down his length slowly, hands reaching out to grab at his massive shoulders.

He watched your face scrunch up, both in pleasure and pain as you slid slowly down him.

“That’s it baby, you can take it,” he encouraged, rubbing a small circle on your back as you whined at the fullness, his cock still not all the way in.

He pushed up slightly, bottoming out in side you as you let out a pornographic moan, his hands reaching out to grope at your tits while you sat there, growing comfortable with the staggering girth inside you.

You began to move, hips raising slightly before lowering, growing your confidence as he continued rubbing your back, mouth sucking at your chest like he was starving.

“Good girl, hm? Taking me so well.”

His words were like a fire inside you, taking over your entire body and setting it alight as your hips began to move faster, his cock disappearing and reappearing as your pussy swallowed it with each thrust.

The squelches and the slaps of your sex were obscene, the windows beginning to fog as Simon began to meet your thrusts, hitting against your g-spot as you cried out, wobbly legs barely able to take him as you tried to keep up with his demanding jabs inside you.

“Fuck,” you swore, “I love you, Simon.” Your hands planted on his cheeks, foreheads merged together as you matched each other’s pace.

“I love you,” he grunted, his hand pulling on the back of your neck into him as you kissed. There was no tongue, just gentle touches between your lips, savouring every breath you both shared, your bodies becoming one, being as close as you could possibly ever be to another person.

Your thrusts became more lazy, your stomach spiralling again into a bundle of blistering nerves ready to pop.

“I’m gonna- gonna cum, Si.”

“Me too, angel,” he panted, voice thick with both lust and love as you held onto him, your skin slapping against each other, his hands grabbing at every part of you before you staggered your movements, a loud moan passing your lips as your pussy convulsed, squeezing and throbbing around his length as you orgasmed, the muscles in your legs throbbing as they vibrated against his owns.

His pace became sloppy before he let out a guttural groan, hot pumps of semen seeping into your exhausted cunt, the remainder of your orgasm milking his length as you both moaned in unison.

You slumped against him, body sweaty as he kissed your forehead, whispering praises in your ear as he rubbed your back. Your legs wobbled as you tried to sit up, his hands reaching out to grope your tits once more before pulling your straps back up.

He placed a gentle kiss on your lips as you craned your neck to the side, laughing at the fogged up windows before his index finger reached out, drawing half a heart before you copied him, connecting the two.

He gave you a pat on the ass as he helped adjust you back to your seat, digging in the compartment for some wet wipes before gently wiping you and the seat down and placing it in the tiny bin he kept on the side of the door.

“You okay?” He whispered, holding your hand.

“I’m perfect baby. Let’s go home.”

[nyttedryst]

You had one job.

It's to deliver Kento's lunch without being seen by him or talk with him since your ass thinks it's much convenient rather than arguing again. After all you turn silent whenever in front of a confrontation which Kento would always do like the mature man he is.

You had one job.

Literary one job, so why are you on his office's couch writhing with his head in between your thighs and a couple of bullet vibrators he managed to tape on your sensitive nipples

"still not gonna talk ha? Stubborn brat."

He muffled, sloppily sucking onto your clit that makes your back arched and your hips bucking up to his face practically humping his tongue. You huffed throwing your head back as you bit onto your fingers when he paused in the middle of you being on the edge. Completely denying you of your climax for the nth time, your cunt desperately clenching around nothing.

Kento is not the type of man to be physically affectionate in public, that's just not him but apparently he's the type to secretly fuck you on his office in the middle of the day the moment he saw how one of his employee eyed you down with that sundress.

"Nami- wait- Can't-" you can barely form coherent words when a knock on the door interrupted. Loud squelching remaining echoing through the room.

"oh so now you wanna talk? Too late doll. Come in." You push the edge of your sundress down, covering his head which causes him to chuckle. His hand sneakily grabs another bullet vibrator which he entered in your soaked walls. Your mind although fogged up from the ecstasy managed to glance as the door opened, his secretary shock and flustered immediately turn back.

"I said come in." With hesitation, his secretary entered, their gaze avoiding yours. Kento keeps his pace on your clit, together with the vibrations of the toys attached to you bringing you to pure ecstasy. You're crying, whimpering as you grip his hair pulling it which he didn't really care about, you just taste so divine..so addictive to think this is all his.

"sir- I uhh have gathered the papers that need your signature..I..have also contacted Mr. Yue from the.. Acnoba company and they agreed on testing and improving our new product with their help they wish to have a meeting with you tomorrow should I add it to your schedule?" His secretary's words blurred in with your noises, he so professionally pulled away keeping his thumb on your clit. His gaze never wavered from your poor quivering body, hungrily taking in the sight that intoxicates his mind.

"leave the papers on my desk, add the meeting with Mr. Yue to my schedule. Inform them that I am looking forward to collaborating with Acnoba and exploring the possibilities of improving our new product-" His words got cut off as you let out a whine when he swiftly took out the bullet vibrator from your cunt to your clit. His digits replace the toy relishing in on how you deliciously spasm around it relentlessly hitting that spot that makes your eyes roll back.

"also prepare the contract for the collaboration of the- oh." He turned silent as you arched your back hiding your face as you squirt all over him. From his fingers to his face... A second of silence passed, his secretary not being able to handle the situation excuse themselves.

"mmm, bad move doll."

[shwetawatts]

CLM excellence or long-standing processes: Why not both?

Many clients often wonder whether it is necessary to re-engineer their existing processes before implementing cutting-edge Contract Lifecycle Management (CLM) technologies. They question whether it’s necessary to make extensive changes or if they can simply automate their processes as they are, especially if they already show promise. Interestingly, while consultants and CLM vendors often stress the importance of adhering to ‘best practices’, clients often struggle to follow this advice. They feel compelled to prioritize quick wins to demonstrate early successes to their internal stakeholders and secure further funding for their CLM initiatives.

At its core, the recommended best practices or blueprints aim to standardize contract processes across different companies, regardless of their size or structure. This approach does make sense but only for routine tasks that can be easily measured. However, the inherent rigidity fails to accommodate the dynamic thinking and actions of individuals in a knowledge-driven economy. Moreover, hastily abandoning well-established processes also undermines the years of effort invested in perfecting them.

The value of long-standing processes

Take the case of a large healthtech company that had invested considerable time and effort into harmonizing and optimizing its contracting processes over the years. The company had successfully managed its legal workload, achieved good turnaround times, and fostered a collaborative environment where the sales and legal teams worked together effectively. However, the outbreak of COVID-19 presented a new challenge.

Suddenly, the company found itself at the forefront of the battle against the pandemic, as lawmakers sought their assistance. Simultaneously, the company had to transition to remote work to prioritize the health and safety of its employees. While their existing contracting processes were effective, they needed to adapt them to the evolving circumstances using technology.

Unfortunately, consultants and CLM vendors insisted on imposing their best practices onto the company. Despite some reservations, the company went along with the recommendations. After a lengthy 1.5-year implementation process and a significant investment in consulting hours, the “urgent” CLM system finally went live. However, the company soon realized that they couldn’t fully function within the confines of the system. Many essential tasks still had to be performed outside the CLM system, leading to inefficiencies and an overstaffed workforce.

This client’s experience is not uncommon. While it is true that not all processes are suitable for replication, it is equally important not to hastily abandon well-established processes. Unfortunately, it is often the latter that contributes to the failures of CLM implementations.

Navigating pitfalls

As evident in the case above, it’s crucial to understand the tradeoffs when rethinking processes and evaluate how well the CLM vendor’s vision aligns with your own. It can be overwhelming, which brings us back to our initial goal of achieving quick wins.

Starting small and focusing on quick wins not only allows you to showcase early successes to stakeholders but also minimizes risks and enhances effectiveness. Taking an incremental approach ensures that you make steady progress without overwhelming your organization or sacrificing long-term objectives. It also facilitates continuous learning that can be applied as you progress to new phases, making your journey smarter and faster.

But what if a full-scale rollout is more suitable for your organization? In that case, it’s important to fully understand the impact a CLM system will have. Work closely with vendors to get a detailed understanding of what the future will look like in practical terms and thoroughly analyze your existing processes.

This process will help you choose the right partners. Your CLM vendor should not merely be focused on selling a product. They should be committed to your long-term success, supporting you throughout your entire digital transformation journey. Look for vendors with deep expertise in contracting and a proven track record of successful enterprise-wide implementations.

It’s crucial to recognize that CLM failures don’t necessarily stem from a failure to adapt or transform processes. Instead, they often result from a fundamental mismatch between your organization’s needs and the capabilities of the chosen CLM technology. Getting the fundamental alignment right will bring benefits beyond contract management.

By navigating the potential pitfalls, understanding the impact, and making informed choices, companies can maximize the success of their CLM implementation. Balancing the power of CLM technologies with the value of their established processes sets the stage for a transformative journey towards greater efficiency, improved outcomes, and long-term success in contract management.

[smartcontractclm]

CLM Technology: How to Accelerate Contract Execution

Contracts are essential, but they should not impede business deals. Business teams work hard on deals, and it can be frustrating when contract execution holds up revenue or other benefits. Every business recognizes the need for fast and efficient contract execution. But how can this be achieved?

The answer lies in Contract Lifecycle Management (CLM) technology. Recent market reports show that companies using an end-to-end contract management system like smartContract can cut contract execution time by up to 42%.

In this post, we explore three specific ideas to accelerate contract execution using a CLM system:

Self-Service Contract Creation

In many organizations, when a business team needs a contract, they send an email to the legal department. The legal department goes back and forth with business, asks questions, and determines the terms and provisions to include in the contract.

A CLM system can automate this process. For common contracts, business users can go online, fill in the details of the deal, and answer a set of questions. The CLM system can determine the best template to use and automatically generate the first draft. The business user can send this draft to the counterparty for negotiation. The legal department can only be involved if there are significant changes suggested by the counterparty.

This self-service model speeds up the contracting process, reduces the burden on the legal department, and allows them to focus on more critical negotiations and legal matters.

Workflow for Contract Approval

A contract may require review and approval from multiple stakeholders. This is probably the biggest bottleneck in contract execution.

A CLM system's workflow capabilities can significantly cut contract cycle time with rules-based review and approval matrices. The system can identify the right stakeholders and create review tasks for them. The system can enforce timely review by setting expected turnaround times and using reminders, notifications, and escalation mechanisms.

Playbook-based Contract Negotiation

A playbook describes a company's negotiation strategies, standard clauses, negotiation boundaries, and non-negotiable positions.

A CLM system's machine learning capabilities can analyze existing contracts and extract the company's agreed positions. This information can be used to develop the playbook.

Once the playbook is ready, the CLM system can make it readily available to all stakeholders in the contracting process. This alignment among internal stakeholders can help in faster decision-making on conflicting terms proposed by the counterparty. It eliminates bottlenecks and speeds up negotiation and contract closure.

A CLM system can enable fast and efficient contract execution, allowing business teams to reap deal benefits without delays. When implemented correctly, a CLM system can transform every stage of the contracting process, allowing more accurate and consistent contracts, reducing risks, and ensuring greater compliance.

To discover more about CLM technology and its benefits, connect with a smartContract consultant today.

[howtological]

Signing PDF Files: A Comprehensive Guide

Sign PDF files electronically with ease. Benefits include convenience, speed, security, and cost savings. Follow our expert tips for secure PDF signing. Sign your PDFs like a pro today!

PDF files have become an essential part of digital communication and document management. Whether it’s an agreement, a contract, or any other important document, you may need to sign it electronically. The process of signing a PDF file is easy, but there are a few things you need to know to get started. In this comprehensive guide, we’ll take a look at the different methods you can use to sign a…