The lack of understanding the importance of contracts and the impact on the whole organisation is the large elephant in the room. It is time to get to it – piece by piece to realise the true potential in the contracts we make.
In Iasta’s blog, the writer truely concludes that Contract Management cannot be truly effective, or even optimized, in an organization if it does not become inclusive to the wider enterprise, particularly as it relates to compliance and risk initiatives. Hence, the lack of effective adoption may be due to the lack of scalability and access to a wider group of stakeholders outside of procurement. Those who may not be directly involved with procurement may still need insights into wider contract risk and exposure from a corporate perspective.
I am really interested to see how Selectica and Iasta merger will drive the awareness of Contract Management as a tool for top management to run their business – because this is not how businesses are run today.
It is in line with my mantra: Agreements are important – they build your business!
Three interesting blog posts: