With this post, we are a third of the way through our 15-part series with Apttus “Mastering Contract Lifecycle Management. You can catch up with the prior 4 posts easily and stay in lockstep with us here.
As usual, here is a teaser to this post, with the remainder easily found on our partner’s site Apttus.com for the full read.
Five Keys to Success for Implementing your Contract Management System
The melody is just as poignant as the lyrics. Canadian Rapper/R&B musician Drake is influencing an entire generation with his music. He prides himself on no tattoos and being “different than the other rappers.” Well, I’m not sure how many CLM implementation champions have tattoos, but the successful ones, like Drake, are different from the other implementers of corporate initiatives.
Over the past almost decade I have had the opportunity to observe Contract Management implementation success and tragic failures. The guidance below is not an entire “success playbook,” but seems to be present in almost every successful CLM implementation. So, let me invoke Mr. Toronto in sharing these (observed) keys to success with you.
“Where you movin’? I said onto better things”
A key element of CLM success is to clearly articulate to the organization what success looks like. Success is something that is a place different from…and better than…where the organization is today.
Whether that is faster contracting cycle times, or faster time to revenue, or greater compliance with regulators or recovering lost revenue and expense, the destination needs to be clearly articulated and it needs to be re-iterated throughout the CLM implementation. It’s motivating and focusing to ensure everyone is striving to get to the same destination.
Continue reading here.