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Contract Management Software: Boom Or Bust?

September 2, 2008

Today’s economic conditions have certainly got many politicians and business leaders worried. So as he heads towards his annual user conference, it seemed timely to ask Upside Software CEO Ashif Mawji how he is feeling about the prospects for contract management applications.

Overall, he is feeling buoyant. The economic downturn it accelerating efforts to reduce costs, and also to add value, The right CLM solutions offer both, so demand is high.  But Ashif made some more interesting observations, which accord with our experience at IACCM. He commented that Legal is more and more the drive behind CLM acquisition. In addition, the ‘richness’of the solution they are seeking is growing – to incluce performance management, sophiticated reporting and advanced complaince management. And finally, the realization of this need for CLM to be an enterprise application (not just a legal process tool) has led to a high level of migrations from some of the early implementations that simply cannot address today’s needs.

Finally, what about the user conference itself? it is open to Upside customers, prospects and others who want to learn and it runs September 10 – 12.  The agenda includes:

  • Case study from Alcon Labs discussing their implementation, lessons learned and value received.
  • Case study from United Healthcare discussing their implementation, lessons learned and value received.
  • Andrew Bartels of Forrester will go through the four stages of CLM deployment and what to expect in each stage in terms of resource commitment and value received
  • We will showcase our v6.1 (due Sep 2008) which amongst other things has the following key enhancements
  • enhanced collaboration with Microsoft Word and also the world’s leading redlining engine
  • enhanced document management functionalities now included in our software
  • enhanced email collaboration, including enabling automated email processing (e.g. external emails can be sent to the system and they will be automatically attached to the relevant contract record, etc.)
  • We will discuss the roadmap and have an interactive dialogue with the users to decide what we should focus on (in essence, our customers shape our roadmap)

The only thing that is missing is me – no invitation this year. I guess I am a victim of the market moving on!

One Comment
  1. I think that a CLM needs to have 3 essential technical properties: FIRST: a web enabled CLM solution: a recent browser is all you need SECOND: no standalone application, but a solution that uses webservices to interact with other applications, such as your ERP, CRM or BI systems THIRD as much as possible dynamical adjustable settings for the CLM administrator. Example: DocStation, an european webbased contract management system, makes it possible to create your own templates or e-forms, and impose certain users of docstation to use these, so that your contracts are more standardized. You can create your own type of contracts, determine and create the meta-data (tags) for that type of contract AND what type of template and webforms can be used to generate that type contract. You can determine if a tag is mandatory or not. DocStation has a build in e-sign engine as well. Enter legally binding contracts over the internet, all you need is a recent browser and a certified digital signature.
    Check the site of DocStation, the web enabled contract management software DocStation for more information, features, key-benefits and price settings. The CLM software is available as SaaS solution and as a license model. Supported languages are in English, French and Dutch.

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