I have always found that most, if not all, procurement organizations recognize the need for a contract lifecycle management (CLM) tool – to have access to a repository of all supplier agreements, but also to help streamline the contracting process.
Despite this – and with the best of intentions – my experience is that very few companies have been successful in maximizing the potential benefits of such technology.
On today’s Art of Procurement, I am joined by Samir Bodas, the CEO of Icertis. Icertis is a cloud-based provider of CLM software. In our discussion, I wanted to focus on three different areas. First, I explored what CLM software actually is. Then, Samir shared his experiences on the keys to successfully implementing a CLM solution. Finally, we then talked about the future – and what impact Samir believes that AI and bots will have on the CLM technology.
“The only thing that matters for the success of a customer lifecycle management tool is adoption. Make it very easy to use, make sure that you present the tool as a value add within the environment that the end user is working in, and then go back to the end user and show the value in terms of reporting and analytics.”
In this episode, you will learn:
- What challenges are companies looking to solve when they invest in CLM software?
- What should you look for when selecting a CLM technology partner?
- What are the critical success factors that drive the success of a CLM implementation?
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