Legito PowerUp 2023 Unlocking Success - Consultants in Digital Transformation
The title of Lorena’s presentation is self-explanatory, but Lorena approaches her work with the benefit of her background as a lawyer.
Organizations considering contract management projects should assess the need for help from consultants by reviewing the maturity of their internal implementation team and the maturity of the selected solution.
Lorena says technology transformation is a journey, not a jump. It’s difficult to skip steps in the journey. Deloitte uses a maturity model to assess an organization’s technology adoption:
- Basic use of technology (eg Office applications)
- Process improvement
- Foundational technology implementation
- Automation in specific legal risk areas
- Sophisticated use of emerging technologies
- As an example of the need to heed the maturity model, Lorena advises organizations to review their current templates and procedures before adopting technology solutions.
- Otherwise, organizations will not see significantly improved results.
- Consultants can bring objectivity to that review.
- Lorena highlighted Gartner’s recent ‘hype cycle’ for contract lifecycle management, which reports that CLM solutions are now beyond the initial hype stage and also the ‘trough of disillusionment’ – CLM technologies are now maturing and delivering real benefits.
Deloitte finds that organizations face three particular challenges when adopting CLM solutions:
- Knowledge – how do you keep track?
- Resources – who will work on the project, and what is the budget
- Reluctance – who will feel threatened by the technology
…technology transformation is a journey, not a jump…
- Lorena says it is critical to involve your internal business experts because it’s unrealistic for vendors to understand unaided the organization’s needs and procedures.
- Ironically, the people who can provide that insight are perhaps the same people who might feel threatened by the technology. Will it replace them?
- Consultants can supplement the internal team by providing market expertise, governance, and by assembling a network of people who will promote the success of the project.
- Consultants bring the benefits of market knowledge derived from detailed research, a knowledge of what best practice looks like, and insight from working on other projects.
Deloitte have compiled a list of topics to consider when selecting a CLM solution:
- Functionality (what do you need)
- Accuracy and stability for the expected volume of data
- User experience
- Scalability
- Cost and time to go live
- The vendor (will they suit you?)
- Technology type
- Integrations with existing systems
- Data security
- Quality of maintenance and support
- Future improvements / roadmap for the solution
- Liability – the strength of contractual protection
- Lorena concluded her presentation with some comments about measuring success.
- She acknowledged that it’s difficult to create quantitative measurements for CLM projects, but organizations should not shy away from qualitative assessments.
- Consider assessments around efficiency, costs, risks and compliance, and the user experience.
- We thank Lorena and Deloitte Legal for sharing their experience of helping organizations implement CLM solutions.
Tomas Fiala
Director
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