Blog Posts
A Strategic Approach to Effective Contract Management ROI
In today’s fast-paced corporate environment, the management of commercial contracts has become a critical function for businesses of all sizes. Contracts form the backbone of commercial relationships, defining the terms of engagement, responsibilities, and benefits for all parties involved. Despite their importance, many organizations still struggle with inefficient contract management processes, leading to significant financial […]
What does it mean to manage a contract?
Does contract management stop at execution? If you are a contract manager, you know the answer to that question is “NO.” Execution of a contract is where the fun begins. So, what is involved in contract management? First, let’s explore the difference between a Commercial Contract Management organization and the Legal Department. Even if both […]
The Exit Plan: Strategies for Effective Contract Completion
Every contract embarks on a journey from inception to conclusion, a journey often meticulously planned at the start but less frequently navigated with care at its end. While ample attention is lavished on the initiation phase (from negotiation to contract signature and into transition if one is required), the final chapter of a contract’s life, […]
Experience Level Agreements (XLAs): A Paradigm Shift in Measuring User Experience
Experience Level Agreements (XLAs) are an approach to measuring user experience that has gained significant attention in recent years. These metrics offer companies a departure from Service Level Agreements (SLAs). The main difference between XLAs and SLAs is that XLAs are centered around the qualitative aspects of how users experience a service, while SLAs are […]
The Fundamentals of Commercial Contract Risk
Risk will always have a place in the contracting process. If strong contract management is established, it plays an integral role in creating and developing risk management strategies to identify, assess, and mitigate risks associated with the contract. Businesses typically manage a diverse range of contracts, from sales to supplier agreements, each varying significantly in […]
The Reality Check! Assessing Contracted vs. Performed Obligations
As an Account Executive or Project Owner, are you certain that the services being delivered align with your contractual commitments? Understanding your contractual obligations and assessing them against the real environment are two different things. It’s a common scenario faced by many stakeholders, particularly those not involved in day-to-day delivery who often lack insight into […]
Why a CLM System Won’t Solve All Your Contract Management Problems
Why should you critically examine the arguments for investing in a contract management system? It’s crucial to address this question, as the landscape is often dominated by consultants and system vendors who advocate passionately for the acquisition of such systems. They frequently present these systems as panaceas for all contract management problems—and yes, I deliberately […]
Women Entrepreneurs and Contract Management
The recent accolade bestowed upon ABiz’s Vice President, Gurupyari Dwivedi, affectionately known as “GP,” underscores the critical role of women entrepreneurs in today’s business landscape. Her recognition by Women Entrepreneur India as one of the “Top 10 Women Legal Consultants – 2023″ is a testament to her profound impact and leadership in the industry. This […]
Case Studies
Set-up Contract Management for New Enterprise Procurement Function: Fortune 500 Financial Planning & Asset Mgmt. Company
Challenges: No consistent process or centralized controls - outsourced service provider processed whatever was requested
Contract Lifecycle Management (CLM) System Implementation: Fortune 500 IT Services Company
Challenges: No centralized contract repository
Global Contracts Shared Services Program: Fortune 500 IT Services Company
Challenges: Looking for efficiencies, implementation of best practices for sell-side and buy-side contracts
Global Obligation Management System (OMS) Implementation: Fortune 500 IT Services Company
Challenges: Manual management of obligations by over-stressed onsite CCMs