Join us on Tuesday, September 25, 2012 from 11:30 AM-12:30 PM CDT for a Spend Matters webinar tackling the subject of contract visibility -- a key ingredient to building better contract management that is missing in many contract lifecycle management (CLM) implementations today. We've titled this virtual talk: Getting to Grips with Contract Management -- Managing Contract Visibility, Risk and Opportunity as a CPO. During this webinar, Peter Smith (Spend Matters UK/Europe) and I will be presenting our thoughts on building contract visibility.
As part of our talk, we'll explore three areas that make contract visibility so important today. First, we'll tackle two reasons to invest (or expand investments) in contract management today: the need to respond quickly to both risk and opportunity. Second, we'll explore the current state of contract management in major organizations. And third, we'll delve into the importance of gaining visibility into your contract "population" and how this can serve as an essential starting point for a successful program.
Without question, it's our view that contract management needs to be brought into the 21st century. It needs clear ownership, better skills, and better tools to address the issues. One of the challenges we observe is that senior procurement executives, particularly when moving into a new role or organization or at a critical period (such as a merger/acquisition situation), are finding they have limited or no visibility into existing contracts. This is not a legal problem (or responsibility), nor one that third parties should solve on a one-time basis.
What tends to happen is that procurement ends up relying on time-consuming and expensive manual extraction of key points from complex documents, often held in a mixture of hard and soft formats. Yet without automated and current visibility into contracts, it's difficult to get to grips with the necessary processes for effective ongoing contract management.
Curious to learn more? Please register for the webinar here: Getting to Grips with Contract Management - Managing Contract Visibility, Risk and Opportunity as a CPO. Can't make the live event? Register anyway for access to the recording and slides.