Outsourcing and Contract Management

Clinical Outsourcing - Strategic Clinical Outsourcing Deals.

noreply@blogger.com (Unknown) — Fri, 03 Aug 2012 09:08:00 +0000

Strategic Outsourcing Deals. List of Preferred CRO's by Pharma Company. Please add comment and I will update Amgen - PRA Astellas - INC Research AstraZeneca - Quintiles Bayer AG - Covance Bristol-Myers Squibb - ICON, Parexel Celtic Therapeutics - PPD Eisai - PPD Elan - PPD Eli Lilly - Covance, ICON, Parexel, Quintiles, Thermo Fisher , ShangPharma GlaxoSmithKline - Parexel, PPD Merck & Co. - Parexel Otsuka -Covance Pfizer - ICON, Parexel, Medco Health Solutions, WuXi Sanofi - Covance, Medco Health Solutions Shire - ICON Takeda - Covance, Quintiles UCB - Parexel, PRA

Partnerships in Clinical Trials 2009

noreply@blogger.com (Unknown) — Thu, 15 Oct 2009 21:05:00 +0000

The Eighth Partnerships in Clinical Trials meeting is to take place 4-5 November 2009 at the World Trade Centre, Rotterdam in The Netherlands.

This is one of the premier European events for the Clinical Outsourcing Community from the Sponsor(Pharma/BioPharma/BioTech) and the Vendor/CRO point of view.

This year speakers include:
Anatole Kaletsky - from the Times
John Sergeant - Chairman
and a who's who from the world of Pharmaceuticals.

Are you going?
If you are not going - why not? Share your views and reviews via the comments section.

Relationship Management

noreply@blogger.com (Unknown) — Thu, 12 Feb 2009 14:42:00 +0000

How does your organisation deal with Relationship Management.

This is a key competancy that is ofter overlooked or under resourced.

How do you manage your supply base or customer base.

Is there a specific person who does this.

What skills do they have - are they appropriate.

Supplier Governance and Supplier relationship management are areas to invest in during a downturn.
Do it today

GlaxoSmithKline Clinical Study Register Launches Today

noreply@blogger.com (Unknown) — Fri, 26 Sep 2008 10:03:00 +0000

Today marks a new dawn in Clinical Trial reporting and transparity.
Moving forward from the GSK Clinical Trial Register, the new site is called GlaxoSmithKline Clinical Study Register.
More information for the public, patients, media and the medical professionals.

http://clinicalstudyregister.comhttp://clinicalstudyregister.com

Books

noreply@blogger.com (Unknown) — Mon, 22 Sep 2008 15:53:00 +0000

Could be an interesting book

What are you reading at the mo...

This looks good

Janssen

Pharma Giles

noreply@blogger.com (Unknown) — Mon, 22 Sep 2008 14:51:00 +0000

The " Tribute to PharmaGiles " post has become very popular.
It has been mentioned on several other blogs already

Does anyone else have any PharmaGiles memorabilia/memories/pictures/documents etc.

Please let me know if you want the pdf of Pharma Giles Childrens Book of Medicine.

Link

Backgammon

noreply@blogger.com (Unknown) — Thu, 28 Aug 2008 14:34:00 +0000

Supplier Performance Monitoring

noreply@blogger.com (Unknown) — Fri, 01 Aug 2008 13:19:00 +0000

The purpose of Supplier Performance Monitoring is to:
• Clearly communicate ‘COMPANY X’ supplier performance goals and expectations.
• Jointly agree a supplier’s current supply capability and performance whilst identifying areas for improvement to meet ‘COMPANY X’’s needs.
• Provide a framework to identify performance gaps for planning improvement action.
• Capture actual supplier performance for feedback to ‘COMPANY X’ and supplier stakeholders.
• Facilitate a review of supplier performance against targets and best in class.
• Maintain a record of supplier performance against Business Requirements over time.
• Allow easy comparison of performance between similar suppliers.
When to initiate Supplier Performance Monitoring

Ideally Supplier Performance Monitoring should be outlined to potential new suppliers at the earliest opportunity. This will be in the information gathering stage of ‘PROCURMENT PROCESS’ as part of Supplier Conditioning. Full details will then be communicated in RFP/ RFQ's with formal agreement occurring within a Contract or Service Level Agreement (SLA). By positioning the principle of measurement and monitoring early in a supplier relationship, the importance of continuous improvement will be conveyed and adequate resources can be allocated to ensure ongoing professional performance management.

The tool can also be introduced into an existing supplier relationship where structured performance monitoring has not previously occurred. Senior management influence is recommended to ensure top level support to the principles of measurement and action planning for improvement. In these circumstances the tool provides a powerful means of re-focusing suppliers on current Business Requirements and priorities, reassessing their ability to deliver against these whilst assigning actions to hit higher performance levels.

Outsourcing and Offshoring

noreply@blogger.com (Unknown) — Fri, 01 Aug 2008 13:16:00 +0000

Purpose of outsourcing/offshoring and its importance to COMPANY-X

Offshore outsourcing is used to source services for non-core COMPANY-X activities from lower cost regions, thus ensuring COMPANY-X's competitive advantage.

COMPANY-X operates, and therefore sources materials and services, in markets where outsourcing opportunities have been identified, expanded and maximised. It is likely that this trend will grow; therefore we need to proactively seek and exploit opportunities to allocate work to strategic suppliers on key parameters:

• Assurance of Supply
• Cost
• Quality
• Service
• Innovation
• Market maturity and competitiveness
• Fit to business requirements

Criteria used to identify outsourcing/offshoring opportunities

As COMPANY-X procures product, goods and services from many thousands of suppliers, it may not always be possible to use outsource/offshore sourcing. However, COMPANY-X Procurement’s intention is to focus on appropriate categories and suppliers using specific selection criteria to successfully exploit appropriate opportunities.

High-level outsourcing success factors include:

• High level senior management sponsorship as a pre-requisite.
• Consensus around a sound and comprehensive sourcing strategy before attempting outsourcing.
• Effective change management and governance plans, essential for sustained value creation and continuous improvement.
• Analytical and experiential skills to understand multiple dimensions of complexities and options created by BPO, offshore, and multi-process outsourcings, and cultural/other client dynamics.
• Tailored and sustainable outsourcing solutions designed to match current and future needs to the individual supplier’s strengths.
• Outsourcing as a win/win proposition for the buyer and supplier. Vehicles for future value creation and capture (defined initiatives, investment models, and gain-sharing principles) beyond today’s baseline cost improvement must be in place.
• Always acknowledging that trust with the outsourcer must be nurtured throughout the process as a key element to success.

Additionally, for outsourcing/offshoring to be successful, steps must be taken to prevent common pitfalls. These include:

• Lack of clear Objectives
• A poorly researched or light fact base
• Poor understanding and communication of work processes being considered for outsourcing
• Poor understanding and communication of the appropriate Key Performance Indicators
• Little to no Governance or Change Management
• Significant variation in deployment methodology leading to process and contractual gaps
• Poor staff communications (particularly if there are staff implications)

Contracting Basics

noreply@blogger.com (Unknown) — Fri, 01 Aug 2008 13:14:00 +0000

What is a contract?

• A written or spoken agreement between two or more persons or entities which creates a legal obligation to do or not to do a particular thing.
• Contracts can include not only what you write, but what you do and say.
• Written contracts seek to record the basis on which parties have agreed to act

For a contract to be formed there must be an offer, with certainty of terms, followed (maybe after various counter-offers) with acceptance and, in most jurisdictions, consideration. Consideration is something of value, which may be nominal, and does not need to be money.

Why do you need a contract?

You need a contract to protect COMPANY-X’s business by:
• creating written evidence of what was agreed upon to avoid disputes or misunderstandings later on;
• defining the obligations of the parties and identifying all the key terms relating to the arrangement up front;
• identifying and allocating management of risk and apportionment of liability between the parties;
• providing a supportive operating framework (making your supplier management easier in the long run);
• providing for a system to resolve disputes; and
• modifying terms that would otherwise be imposed by law.

Different types and forms of contract

You may work with many different types of contracts that are defined by the type of purchase. These may include software contracts, supply contracts, equipment contracts or services contracts. There are also different forms of contracts. The most common are purchase orders, short form contracts and long form contracts.

Purchase Orders are for once-off agreements.

Short Form contracts are best for low spend, low risk, low complexity or short arrangements.

Long Form Contracts are best for high spend, high risk, high complexity or longer arrangements.

Statements of Work/Task Orders

You may also encounter other legal documents specifically Statements of Work or Task Orders. A Statement of Work or Task Order is a document that references a Master Contract and sets forth the specific deliveries or services that a Supplier would provide under the Master Contract. You may hear the terminology Statement of Work (SoW) and Task Order used interchangeably. The correct terminology to use will be that specified in the Master Contract. The two documents together comprise the full contract.

Statements of Work/Task Orders (Con’t)

If COMPANY-X attempt to make a claim that a supplier did not perform according to the Master Contract, then the Statement of Work or Task Order will serve as the main evidence of what the parties agreed in relation to the specific delivery or service.

Letter of Intent

You may also hear the term ‘Letter of Intent’. Procurement Policy P511 establishes the COMPANY-X position on issuing letters of intent. If a letter of intent is needed you must first contact your PCMLT member and then COMPANY-X Legal prior to its use or release to the supplier.

A letter of intent indicates an intention to negotiate and perhaps the key matters on which you are prepared to negotiate. They do not indicate an intention to be contractually bound to one another. Letters of Intent require very careful drafting to ensure that a Contract is not formed.
You may sometimes hear a Letter of Intent referred to as a MOU or ‘Memorandum of Understanding’. These terms mean the same thing.

OJEU

noreply@blogger.com (Unknown) — Wed, 30 Jul 2008 14:36:00 +0000

Do you need to create OJEU compliant tenders?
How do you do it?
What software do you use.
Let us know what you need and we can help shape the future.

OJEU - Official Journal of the European Union
OJEC - Official Journal of the European Communities

Tribute to PharmaGiles

noreply@blogger.com (Unknown) — Thu, 17 Jul 2008 14:49:00 +0000

For all of you missing the Pharmagiles blog I am reproducing the amusing Childrens Story of Medicine Book created by the legendary PharmaGiles.

If you would to a receive this in pdf format please email me on longfieldavenue@gmail.com or post a comment.

Tactical vs. Strategic Outsourcing

noreply@blogger.com (Unknown) — Tue, 24 Jun 2008 14:06:00 +0000

Tactical means using individual contracts.
Using:

RFP
Cost negotiation
Legal review
SOW review
Responsibilities
SOPs
PM learning cycle
Change orders
Issue identification
Issue resolution
Closeout

Strategic equals a partnership approach:
Work Order
Agreed base/unit costs
Ts&Cs agreed
Shared protocol development
Established responsibilities
Shared SOPs
PM continuity
Interactive setup
Early warning
Oversight/escalation process
Constant improvement

Is it desirable to move to a partnership arrangement...probably

Tata Consultancy Services Limited - TCS

noreply@blogger.com (Unknown) — Mon, 07 Apr 2008 13:50:00 +0000

Tata Consultancy Services Limited (TCS) is a software services and consulting company Headquarted in India.
It is one of the world's largest providers of IT and business process outsourcing(BPO) services.
Revenues of US £2 billion for 2006
.
TCS is part of one of Asia's largest conglomerates, the Tata Group, which has interests in areas such as energy, telecommunications, financial services, manufacturing, chemicals, engineering and materials.

Are you working with them?
If the answer is no – I bet you will be soon.
They are making massive inroads in all areas of your business.
Which other BPO are you working with.

Contract Management Education

noreply@blogger.com (Unknown) — Mon, 07 Apr 2008 13:35:00 +0000

The following article looks at training, educations and examination for the Contract Manager.
There are many ways to keep staff interested in engaged in their job and a top one is always education and training. Most training focuses on Soft or Hard Skills.
Soft skills include presentation, negotiation, facilitation etc. These skills need to be constantly improved and are great transferable skills.
Identifying hard skills is actually harder but worth the time. Here you need to identify specific areas to train that will improve your productivity. Areas to consider would be legal training and other skills directly related and integral to the job and the industry.

Other options include professional training and professional qualifications for Contract Management. I suggest looking at professional legal qualifications, finance qualifications. The Procurement qualification – CIPS. Could be an area to research.
Let me know what you are looking to study, are studying or would recommend.

Pharma - Tailored Drugs

noreply@blogger.com (Unknown) — Wed, 19 Mar 2008 15:36:00 +0000

I recommend you to take a look at this interesting article from the outgoing chief of Eli Lilly.
Eli Lilly's Sidney Taurel: 'Tailored Therapeutics' -- the Pharmaceutical Industry's Next Blockbuster?

It discuss the changing focus on the Pharma Industry. These changes will impact all you outsourcing experts.
The new paradigm is going to be smaller, quicker, cheaper.

Q: What is Contract Lifecycle Management?

noreply@blogger.com (Unknown) — Tue, 12 Feb 2008 09:52:00 +0000

A:
Today, most organization's contract processes are defined by fragmented procedures, labor intensive processes, poor or no visibility into contract terms and conditions, ineffective compliance management and governance, and inadequate performance analysis.

Contract Lifecycle Management is applying technology to standardize, streamline and automate contract initiation, creation, negotiation, execution through to expiration. By doing so organizations are finding that they can cut contract cycle times by 50-80% or more with improved standardization, control and visibility of their entire contract portfolio. These improvements lead to lower procurement costs, increased revenue, reduced customer migration, improved compliance, lower risk and an overall gain in employee productivity.

Contract Management with ContractX by SureStock

noreply@blogger.com (Unknown) — Tue, 12 Feb 2008 09:37:00 +0000

Anyone using this product - whats your feedback?

http://www.surestock.co.uk/sure_contractx.html

Round up

noreply@blogger.com (Unknown) — Thu, 07 Feb 2008 11:46:00 +0000

Conclusions

Contracts exist because separate legal entities that decide to form a relationship with each other need some formal record of understanding regarding the nature of the relationship and their respective rights and obligations. They are not well served by traditional enterprise software because this is typically inward looking – it is not designed to support or enable external relationships.

Contract management software is therefore distinctive because it seeks to support inter-organizational activities. It does this by providing a basic platform for control, which is enhanced by functionality and features that enable process efficiency and organizational effectiveness.

Many organizations have thought of contracts primarily as documents that record commitments and define the consequences of failure. While some recognize that they reflect relationships that are ‘assets’, many think of them only as legal instruments and few have defined a formal ‘contract management process’.

The traditional role of contracts remains necessary. But organizations and the economic environment in which they operate are changing and this requires new and improved controls. Contracts and contract management have a critical role in delivering these controls – and that is why new software tools are receiving a heightened level of attention.

The networked economy is changing the nature of relationships. It has introduced rapid movements of goods, capital and information that transform business operations. This has caused increased regulation and the development of global governance standards. It has also enabled new and exciting approaches to product and service development, global delivery systems, relocation of work and the management of risk.

Such change causes disruption. Organizations are forced to rethink the way they are structured and also the way they relate to customers, suppliers, partners and distribution channels. Both internal and external interfaces need to be managed faster and with greater flexibility. The speed of change demands strong business discipline through robust governance systems and shared understanding of base roles and responsibilities.

Superior contract management processes offer the tools needed to manage the complexity of global networked relationships, allowing a balance between the twin imperatives of compliance and change.

This is the environment that has given rise to advanced contract management software. It is an environment that demands much more than simple repositories; it demands more than planning systems that maintain standards; it demands more than document management. Contract management software delivers value because it offers not only control, but also increased efficiency and effectiveness. It bridges the gap between organizations and offers a source of integrated management insight to the performance of their relationship portfolio.

It is clear that many systems do not yet offer the sophistication that will be required by maturing supply chain disciplines, but they do offer substantial advances on any currently available alternative. They also cost very little compared with many other enterprise applications and with the right executive focus, they can deliver a strong return on investment.

Automation is not an alternative to process definition and reengineering; it is a critical supplement to realizing and retaining the benefits that come from a streamlined contract and ‘commitment management’ capability. In the 21st century economy, this capability is fundamental to any organization that wishes to compete and maintain its public reputation.

Success Factors in Contract Management

noreply@blogger.com (Unknown) — Thu, 07 Feb 2008 11:42:00 +0000

Critical Success Factor #1

Most respondents anticipate that executive sponsorship will be key – and indeed it is. The sponsoring executive must have authority, be willing and able to overcome resistance and demonstrate ‘sticking power’.

It is increasingly common for the General Counsel to sponsor automation projects, but this is by no means universal. When General Counsel’s are involved, the ambitions for the project may be quite limited – for example, a searchable repository may meet narrow legal priorities. The benefit of such limited scope is that costs are low and contention limited; the disadvantage is that there has been no wider discussion or acceptance and the selected solution may not be suitable for wider business needs.

Any contract management software implementation is likely to require broad organizational consensus, because it impacts many stakeholders. It is because of this complexity that the project has the potential to yield so many benefits.

Analysis of projects suggests that:
a) a powerful and high-level executive must act as sponsor;

b) the team and the wider organization must understand and accept that automation will require significant process definition / reengineering in order to succeed (and offer substantial benefits);

c) successful projects are frequently overseen by an executive steering committee, drawn from the major groups impacted by the new tools and process.
The steering committee will often be more symbolic than requiring active executive engagement, but it is essential to overcome resistance and to ensure adequate resources are applied. It also offers continuity in the event that the executive sponsor moves.

Critical Success Factor #2Gaining and maintaining support from other functions and groups within the company turns out to be a far more significant issue than many anticipate and is the most common cause for projects to fail. The challenge in building consensus takes several forms:
- Some oppose automation; they see it as threatening (to their jobs, authority, flexibility) or challenge its benefits. They may also be unwilling to allocate the resources needed to support implementation.

- Some question the solution. Earlier in this report, we highlighted the array of options and specific groups may feel that their specific interests are better served by alternative solutions.

- Some disagree over the functionality. One of the biggest dangers is that the project team lose control over scope. Other functions or groups welcome the initiative –and then seek to expand functionality to unrealistic or unaffordable levels.

All these challenges can be overcome – the right executive sponsorship / steering committee is of course one key element. But the project team should take a number of steps to build support.

a) Work with your sponsor to agree initial scope; discuss this with the steering committee and incorporate their suggestions. Welcome further inputs (make the process inclusive), but be clear that most of these will be noted for future release.

b) Anticipate the drivers and concerns of different functions and groups and position the project accordingly. For example, while the CFO and General Counsel will welcome increased controls and greater visibility of risk, business unit managers or sales groups will interpret these ‘benefits’ as introducing increased bureaucracy and reduced ability to respond to market needs. Therefore focus on other benefits, such as reduced cycle times and easier access to delegated standards.

c) Obtain external benchmarks or data that can support your direction. Objective data is the best way to overcome the subjective opinions of the many stakeholders who will take an interest in this project.

Critical Success Factor #3
Credible return on investment (ROI) statistics have proven to be less significant than many expect. In fact, they are frequently a diversion – demanded by executives or groups who want to delay or avoid a decision.

The challenge with calculating ROI is that baseline data typically does not exist. Given the typical lack of established process, there is rarely good information on existing costs or missed profit opportunities. If the project has resulted from documented exposures – missed deadlines, lost agreements, incorrect billing or discounts – the justification may be simple and relatively narrow. But if it is driven more by a general wish for improvement, it may be harder to establish tangible benefits (many of which are more generally attributable to process reengineering).

It is important to realize that in most organizations, precise data simply cannot be obtained. Therefore – as with many software investments – it is more meaningful to set targets for improvement and to base benefits on estimates of current state. Areas to consider when looking at ROI include:
• Time Savings
• Spend savings
• Revenue/profit increase
• Sales cycle decrease, improved win rates
• Cost/cost overruns avoidance
• Reduction in missed commitments, disputes and claims
• Renewal rates

When looking at opportunities, consider areas like sales force or business unit productivity (how much time is absorbed finding the right documents, establishing approvals etc?) and customer or supplier satisfaction (what are things that ‘make you hard to do business with?). If users of the service experience difficulties, the chances are that these represent areas of inefficiency – so you can save money and raise their satisfaction levels at the same time.

Critical Success Factor #4

Project management is recognized as important – and this is confirmed by those who have led successful projects. Organizations must allocate not only adequate resources, but also appropriately skilled resources.
The core team does not need to be large. While the project will need extensive support from around the organization, its success depends on the ability of the project manager to gain resource commitments and to manage the team and its goals. The core team must have subject expertise, but its leader may not be from a contract management background. Functional knowledge matters less than leadership, communication and the ability to sustain executive support.

Other Factors

Our research suggested that the four factors identified above are the key elements behind project success and other factors only derail projects that lack one or more of them. For example, lack of support from the IS function, pressure to ‘build our own’, or push-back on vendor viability are all readily overcome if there is strong executive support and good project communication. Therefore, while these are cited as significant factors by a substantial number of respondents, they were never in themselves causes of project failure.

How to do it well - Successful implentation of contract management software

noreply@blogger.com (Unknown) — Thu, 07 Feb 2008 11:40:00 +0000

Characteristics of Successful Projects / What Goes Wrong?

There is no question that contract management has become strategically important and that organizations are placing increased emphasis on the quality of their contracting. While regulation - and the resulting need for improved business controls and visibility of risk – may be the most significant factor, it is not the only issue driving increased management focus. Many executives have become aware of the role of contracts in providing insights and managing key relationships. They understand that poor practices result in more frequent disputes, an inability to manage risk and failure to optimize revenues or cost reductions.

Yet despite these drivers, rapid and sustained improvement remains the exception rather than the norm. While this report confirms a growing intent for action, it also reveals conservative ambitions with respect to scope and implementation priorities. There is also a perception that many automation projects stall or are abandoned.

The final section of this report explores the inhibitors to successful projects and the extent to which projects do in fact fail. It seeks to impart ‘lessons learned’ and to provide guidance that will assist organizations in understanding:

1. The organizational framework necessary to initiate a project
2. The likely barriers that need to be anticipated and addressed
3. The characteristics of successful projects

noreply@blogger.com (Unknown) — Thu, 07 Feb 2008 11:38:00 +0000

Customer Priorities And Concerns

Growing business maturity means that an increasing number of executives – especially General Counsels – have recognized the need for fundamental change. While specific exposures or crises are the cause of some implementations, many are resulting from an understanding that controls are no longer optional, that lack of systems is driving intolerable workload and that software can provide valuable insights to trends and performance, enabling superior risk management and competitiveness.
But while General Counsels may be giving strong backing – and often executive sponsorship – to these projects, the leadership for them appears to be falling heavily on contract management groups, in both sales contracting and procurement.

Today, CLM is achieving increased levels of flexibility and functionality, capable of handling the complexity of variable terms and conditions and continuous change management. It is this capability that is now driving heightened interest and many growth opportunities.

1. Worldwide
The worldwide spend on CLM software and services for the period June 2007 – June 2008 is forecast to be approximately $460million. As previously indicated, the great majority of this expenditure will be in North America and Western Europe. In fact, the forecast includes only around $30 million outside these geographies. However, this estimate is conservative – largely because the data input for these regions is too small to be reliable.

Current contract management situation

noreply@blogger.com (Unknown) — Thu, 07 Feb 2008 11:37:00 +0000

Therefore, to summarize the current situation:

􀂉 In many organizations, ‘contracting’ is not a defined process. It depends on a series of actions by a range of functional groups, with no overall ownership or accountability for performance.

􀂉 The functions that ‘own’ contracts (Legal, Contract Management) are not typically leaders in technology. Their aspirations often extend only to database or document management solutions that facilitate their own search and records.

􀂉 Negotiated contracts are complex instruments. They have (potentially) high levels of variability. By definition, a negotiated term does not fit within the standards assumed by other applications (e.g. the ERP system). Interfacing is therefore complex and to be successful requires extensive resource commitments to support implementation.

Given the lack of executive champions and the dependency on inter-functional collaboration, contract management software projects frequently struggle to maintain their momentum. This has clearly frustrated acquisition levels.6[1]

more on success...

noreply@blogger.com (Unknown) — Thu, 07 Feb 2008 11:36:00 +0000

There is certainly evidence that many of these benefits can be realized without contract management software – that they result from the process definition itself. However, this argument could be applied to many areas of software implementation, including ERP. The key question is whether process definition will ever occur without the discipline of the software implementation, and also whether its benefits are sustainable without the controls and data capture that the software enables. The available evidence suggests that this is not the case.5
Recent research has illustrated the challenge that many early adopters have faced, when even successful projects have been constrained by their inability to achieve enterprise-wide benefits. Many initiatives fail to establish internal consensus and either die, or result in limited scope implementations. Projects are often narrowly defined, either in terms of the process areas they cover, or the functional or geographic range of activities. This is typically because of the limited authority of the project sponsor, directly reflecting the absence of overall process definition and ownership.
Even now, it is relatively hard to point to a true ‘enterprise wide’ implementation on a global scale, covering the entire contracts portfolio. Since most executives and their Boards would accept that contracts are one of the key assets and drivers of organizational performance, it is remarkable that they are so relaxed about their quality, accessibility, maintenance and control. Because they have never had detailed visibility of commitments or performance at a portfolio level, they cannot imagine what such visibility might enable in terms of organizational performance and success.
The results of this survey suggest that change is starting to occur – though in most cases not because of any grand vision, but due to more mundane issues of workload management, regulatory compliance and control

Define success

noreply@blogger.com (Unknown) — Thu, 07 Feb 2008 11:36:00 +0000

As a result, successful contract management software projects require a commitment to process definition which raises tough political questions regarding ownership, authority and accountability. This has caused acquisition decisions to depend on a powerful executive champion – some with either the vision to understand its benefits or the frustration to demand improvement. That champion must be someone who is motivated to cut through the inter-functional rivalries and inertia that typically accompany such projects.
The disciplines that result from process definition generate and enable a wide range of unexpected benefits in areas as diverse as workload reduction, risk management, cost or revenue improvements and innovation. These complement the most frequent driver for today’s projects, which is business control.