CLM , the secret to better SX Let ’ s be honest , RFX ’ s have a bad rap , and I would say deservedly so .
But the old saying still rings true . Make it easy for people to do business with you , and they will . I know it may be hard to believe , but salespeople are people too . When deciding where to expend their efforts and sharpen their pencils , suppliers look to the opportunities they ’ re most likely to be successful in achieving .
Overly cumbersome and bureaucratic bidding processes and opaque or vague selection criteria are likely to impede the process , hinder the outcomes and potentially damage your reputation and deter potential bidders .
Democratising procurement by setting a formal , visible and collaborative bidding , selection and contract management process removes the friction and makes not only for a better SX but a better stakeholder experience .
Wishart explains , “ Defining requirements and establishing clear parameters of what success looks like for that contract helps to democratise the contracting process , and having both internal and external stakeholders involved in that process in a collaborative way moves away from this view of contracts being this black box or magic art that only a few professionals really know how to work . I think democratising the process has some additional benefits across the enterprise that moves viewing contracts as a sort of defensive shield to actually be an encapsulation of how the relationship should work .”
“ We recently launched an add-on module to our CLM solution that supports sourcing and supplier information management . Part of this solution provides a portal for the suppliers to come in and not just view the contracts as a PDF but to see the data on those contracts as well . They can look at the information they have agreed to regarding how they ' re performing against that contract .
“ So it creates this greater transparency around the contractual relationships . And I think that ' s important because , before digital technologies like CLM , which encode
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