| | NOVEMBER 20156CIOReviewCopyright © 2015 CIOReview, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewNOVEMBER - 09 - 2015Managing EditorJeevan GeorgeEditorial StaffAlex D' SouzaArun Kant Joe Philip Sonia SacharT:510.565.7559 VisualizersAaron PierceJoshua ParkerMatthew JacobStephen ThomasChetan.N ENTERPRISE CONTRACT MANAGEMENTCIOReviewSalesWhether to create an impervious business case for budgeting or to identify available system functionalities, the first step for an organization today is to analyze and understand the challenges in its enterprise contract management (ECM) segment. The time-consuming tasks of negotiating, delivering, signing, and returning contracts can take days or even weeks to complete. From initiation to compliance, assessment and refinement, ECM systems have recently made an incredible leap towards mitigating business risks, by responding to challenges without extensive customizations and prolonged implementation.Ancillary to traditional contract lifecycle management, companies are now developing ways to extract metadata of contracts using analytics as well as accelerators for contract origination. Apart from providing contractual transparency, contract analytics technology can be customized for specific businesses. It can be used to triage existing contracts to identify known risks such as deviations from standards, and contracts that are missing for internal or regulatory compliance purposes.Over time, big data collected in ECM applications helps companies to maximize profits by measuring and assessing its customer and vendor relationships and contract performance for future business transactions. Also, by shifting contract management to the cloud, high-volume businesses now gain faster, more secure sales cycles, which makes it easier for customers to do business. Cloud-based contracts also deliver a rapid, real ROI capable of transforming sales and the departments that support it, including legal, finance, product delivery, and professional services. It simplifies signing process to immediately see where the deals stand. The objective of these technologies is to ensure that contractual commitments are met and that pricing and terms are optimized for better business performance and stronger customer-supplier relationships. In this edition of CIO Review, we give you a comprehensive look into the best ECM software available to author, negotiate, monitor, amend, and approve contracts so that, if implemented, it will provide an accurate, consistent, and swift guidance to your business, before problems arise. We would love to hear your experience of leveraging innovative technology solutions to steer your business. Jeevan GeorgeManaging Editoreditor@cioreview.comEditorialA Digital Revolution in Contract Management Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 November - 09 - 2015, Volume 4 SE 99 Published by CIOReview To subscribe to CIOReviewVisit www.cioreview.com Xavier Thomasxavier@cioreview.com
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