Start Smart When It Comes to Your CLM Implementation
Executing your CLM implementation smart is the topic of this lively podcast. Listen in and hear how the CLM market has changed the world of corporate contracting. Join two of the industry’s most knowledgeable resources, Bernadette Bulacan, Chief Evangelist at Icertis and Kami Paulsen, Managing Director at Elevate, for this conversation.
- [01:25] Meet Bernadette and Kami.
- [02:25] Legal ops teams cut their teeth on technology. Today those learnings are being applied to CLM implementation.
- [04:56] CLM presents an excellent opportunity to introduce legal technology across the enterprise.
- [06:03] Big bang or a phased enterprise CLM implementation, what’s the best approach?
- [07:12] Best practices include stage gates, iterating, starting with a smaller universe of agreements and creating a team of champions.
- [08:50] Are you ready? Are your contract templates in order? Do you know where they are?
- [09:50] Starting with a process like NDAs provides the experience to apply to more complex processes.
- [11:20] The SOW process forces customers to look at Big Bang while starting small has the benefit of establishing and testing procedures for a larger rollout.
- [13:42] The SmartStart offering brings harmonisation to customers with no time for harmonisation.
- [15:35] Once you harmonise the content, developing workflows and KPIs are less daunting.
- [17:02] Organising your information pays dividends.
- [21:12] Prioritisation and understanding of organisational drivers, including consolidation and turnaround, can direct the implementation.
- [24:47] CLMs fail when we give customers a faster way to implement their flawed process.
- [26:31] Challenging process is imperative; you have to be ready to look at contracts, actual physical documents, the process, and the people.
- [27:03] Technology is not a magic bullet; build a team of champions, have playbooks, and be okay with iteration.
- [30:56] Programs like StartSmart and overall industry maturity have slowed the 3-year cycle of rip and replace.
- [31:39] The last few years, with everything being in the Cloud, it’s opened an entirely new world of integrations.
- [33:25] We are all moving very fast. Let’s take time, in the beginning, to slow down, look at the processes, and ask questions – before we take the leap of faith into CLM. We’ll benefit by having the ability to move much faster with reliable data.