The only way to fix disconnected deal workflows is to look at the bigger picture and think bigger. Look for the opportunity to adopt a purpose-built contract lifecycle management (CLM) tool that can be deployed across all lines of business from top to bottom and that addresses a host of deal inefficiencies. A well-planned! central CLM can decrease IT expenses by eliminating redundant usa mobile numbers list technologies and reducing the number of data access points to manage. A solution that centralizes deal visibility while integrating with common line-of-business tools will lead to higher adoption rates! better ROI! and improved business outcomes.
CLM implementation is an opportunity for IT leaders to drive change
The solution that unifies lines of business in deal work will be technology-based! so the leader who must drive that initiative is the IT executive. In a business environment that expects IT leaders to build bridges across the organization and increase effectiveness! a transformational CLM solution is a logical starting point. As a department that has historically been viewed as a budget blocker! implementing CLM is an opportunity to shed that stigma and make a new mark as an operational catalyst.
Implementing CLM isn’t just a replacement for siloed solutions! but a digital rewiring of how the entire organization works. It gives IT leaders the opportunity to work across all lines of business to understand agreement processes and collaboratively drive digital transformation that solves the most important problems. As Saran Mandair! General Vice President of Global Infrastructure and Technology once on the desktop at Docusign! noted! “It’s about finding innovative new ways to deliver value to your customers! internal customers! and staying ahead of the competition.”
IT leaders have long been involved in
broad campaigns to work across functions! but it’s rare that they get the chance to lead those initiatives. CLM is a great opportunity to partner with key stakeholders across lines of business and bring real value to members of all their teams. It’s more than just increased visibility—it’s a chance to have a tangible impact on improving the day-to-day experience of everyone in the organization who works with deals. Mandair adds that to really move the needle on transformation projects! “both sides have to come to the table and figure out what the key business objectives are and what’s above the line and what’s below the line.”
An organization-wide CLM
tool is also an opportunity to make a lasting impression on the CEO. Ernst and Young’s contracting survey reports that CEOs’ top contracting priorities are reducing costs! mitigating risk! digitizing operations and enabling growth.
It’s also worth mentioning that AI-powered
contract systems of the future will rely on a central repository that holds all data related to agreements. Matt Francis! Partner and CTO at IBM! noted that the biggest hurdle for clients considering AI and generative AI technology is trusting data. “Do they trust the data that they’re going to use in this generative AI? Is there governance that regulates the use of large language resource data models! the cues! and the data that’s going to go into those models?” he said.