Most Contract Lifecycle Management (CLM) solutions are implemented narrowly focused on a single line of business with inflexible architecture. Market factors, however, are requiring strategies to help reduce risk, ensure compliance and support the changing nature of organisational work procedures relating to the management of procurement and contract management activities.
Today, eBMS is solving these problems with our end-to-end Procurement & Contract Management solution using our Nimblex Platform.
The Challenge of Traditional Contract Management
In the past, organisations took different approaches to contract management based on the fact that IT would drive the requirements and procurement of a new CLM solution.
This created several disparate and disjointed siloed solutions due to IT taking the easy off-the-shelf approach only to discover that the solution cant be configured to fit the organisations needs as per the vendors empty promises.
Many software providers focused on CLM features and functionality based on their intended audiences. For instance, SharePoint providers would offer CLM to IT as part of a wider application deployment for content management. In other cases, it was about CLM add-on to an existing solution, such as an ERP platform, like SAP or Oracle, thereby covering the use cases needed to enable the ERP, but not serving contract managers or other stakeholders adequately.
Regardless of the solution approach, one of the key stakeholders often absent from the conversation was the everyday user that will engage with the CLM solution on a daily basis. In fact, one of the main failure points of traditional CLM was the lack of buy-in or adoption by users.
Consequently, these siloed CLM solutions caused a miss fit between what the as-is CLM for the organisation (as per their procurement policy) and the many input screens and non-relevant data input boxes of the off-the-shelf CLM solution. These solutions lacked the ability to morph and shape to keep up with changes to policies, user requirements and business improvement initiatives.
What's driving the need for flexible CLM? Why now?
Today, ECLM is being driven by the increased focus on compliance and risk. Business dynamics demanding contract consistency and visibility is another driver. Senior Procurement Managers no longer wish to put their fate in the hands of IT managers to avoid the tail wagging the dog scenarios. The movement of social, mobile and cloud technology fueling an information explosion. The incorporation of this information into decision making is impacting the wider corporate view of what contract lifecycle management has been in the past, and what it needs to be in the future.
As a provider to leading private and public sector clients, eBMS are increasingly seeing the need for CLM software which offers unprecedented flexibility, actionable insights, configurable architecture, trackable decision making, easier compliance management and shorter approval times to better align with an organisations particular procurement policy or framework. The overall objective is no longer to implement a particular CLM software product. No, the key objective is now to implement and automate an organisations unique procurement and contract management policy successfully. This includes individual workflow nuances, intelligent report views, intuitive business rules, etc. Needless to say that these requirements would be different for each and every organisation.
This is why the traditional ‘cookie cut’ CLM software is no longer the tool of choice and flawed with costs, risks and user disappointments.
For a flexible alternative, feel free to explore Nimblex Procurement & Contract Lifecycle Management Solution.
or if you'd like to know more about how Nimblex reporting tools and dashboards can optimise your business systems, why not get in touch with us?