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Webinar Overview
In this webinar featuring experts from Procurement Leaders, Sirion, and KPMG, we explore some of the key challenges to digital transformation (DX) projects and explain how contract lifecycle management (CLM) – as a core element of your digitalization program – can address them. Watch this webinar to discover how CLM technology can help you realize maximum value from your DX initiatives and increase your chances of success.
Watch on-demand below.
Driving Digital Contract Transformation ROI
Speakers
David Rae
Chief Product Officer, Procurement Leaders
Chris McClory
Managing Director, KPMG LLP
Puneet Bhakri
SVP- Global Alliances & Partnerships, Sirion
The Highlights
Digital transformation isn’t just a buzzword anymore but a critical strategy for staying competitive. Contract lifecycle management is one key area where digital transformation can drive significant value. Leveraging CLM technology that covers the entire contract lifecycle can streamline your processes and enhance operational efficiency. That means saving time and reducing risks – one of the key benefits of digital transformation, period.
Our panelists cover in-depth how to do this in the webinar above, but here are a few pointers to get you started.
1. Prioritize and Simplify User Adoption
The success of CLM technology hinges on its adoption by the users. Opt for intuitive and easy-to-use solutions, reducing the learning curve and encouraging widespread adoption across the organization.
2. Leverage AI for Enhanced Contract Intelligence
AI-powered CLM solutions can provide valuable insights into contract data, helping businesses make informed decisions. AI-driven analytics can uncover trends, risks, and opportunities within contract portfolios.
3. Foster Cross-Functional Collaboration
CLM technology should facilitate collaboration between various departments—legal, procurement, sales, and finance—ensuring all stakeholders are on the same page and working towards common goals.
4. Measure Success Beyond Cost Savings
While cost savings are significant, evaluating the success of CLM implementations should also include metrics like contract compliance rates, time saved in contract negotiations, and overall process efficiency improvements.
Digital Transformation with CLM
Adopting CLM technology as part of digital transformation initiatives offers organizations a strategic advantage. It enables them to manage contracts more effectively, reduce operational risks, and ultimately drive greater business value.
By focusing on these key areas, you can ensure your CLM technology investment delivers on its promise of driving digital transformation success.
Read more on digital transformation strategy here.
When it comes to contract management, business teams have often historically “set it and forget it” — but a contract can be a vital source of business insight when managed well.
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