Get Ready For Contract Lifecycle Management 2.0 [PRO]
In a recent Spend Matters PRO report, Selectica and Iasta — Mapping the Future of Procurement, Contract Management, and Customer Engagement, Pierre Mitchell and Jason Busch examined and fleshed out a number of scenarios for how companies could use contract lifecycle management (CLM) in new ways in the future as technology capabilities advance. From exploring the linkage of supplier management, corporate social responsibility (CSR) and governance risk and compliance (GRC) more closely to contract management to enabling purchasing contracts that are triggered contingently on a sell-side contract that align risk and profit, the brief suggests a future in which contract management becomes as essential to procurement and sourcing – let alone the broader business – and category management are today. But what will the underlying technology capabilities look like (beyond the basics) to enable these capabilities? In this Spend Matters PRO analysis, Thomas Kase and Jason Busch provide a perspective on contract lifecycle management (CLM) building blocks.