Over the years Seal has learned a lot about our customers and their contracts. One thing we’ve learned is that they are hard to separate from one another. [Read more...]
Blog – As a General Counsel you simply must know what your contracts contain and be able to rank them based on material value and potential legal risk for the company
I’ve been there as the head of a major legal department, in a global international company, answering the question from the CEO, “What does the agreement with X say about Y?” with, “I can’t find the agreement, so I really don’t know.” [Read more...]
As the S2P technology market continues to evolve, new entrants and fierce competition compel all vendors to focus on innovation according to John Benson, Senior Consultant in the Supply Chain Practice of Capgemini in his recent blog (Read John Benson’s full blog post: “We’re not in Kansas anymore”). [Read more...]
In our recent blog post looking at the challenges faced by the UK’s NHS, contract management stood out as a fundamental discipline to assist in contributing toward the £20billion in savings that are being sought. It seems this figure may have to be revisited, as a further £30billion funding gap is now being predicted by 2020-21. (Source: recent BBC News article, NHS ‘Heading for £30bn funding gap‘. [Read more...]
Many Client Relationship Management (CRM) application users are struggling to find relevant customer contract documents and contract data in their CRM system. This is hampering the ability of companies to fully realize the return on the significant investments made in the CRM system.
In a recent article in the Wall Street Journal, author Joe Palazzolo looks at a ruling by the U.S. Justice Department that indicates a continuing shift in favour of machine over man when it comes to reviewing documents. The case involves the proposed merger of Anheuser-Busch InBev and Grupo Modelo of Mexico. [Read more...]
Under the backdrop of the NHS policy: Making the NHS more efficient and less bureaucratic, spending is set to increase each year between 2011 and 2015, yet demand for health services is rising faster. In order to meet the increase in demand, and with new drugs and treatments coming onto the market, it’s important that the NHS makes the best possible use of the funds available. [Read more...]
In this second follow up to Thomas Kase of Spend Matters white paper “Effective Contract Discovery, Analysis and Control”, Kase looks at the depth of contract metadata that can, and perhaps should be, but often isn’t, extracted from contracts. Whilst some common data items are, Kase argues, practically trivial: name and type of contract, contracting parties, dates etc. many others should and could be extracted quickly and effortlessly with the right tools in place. [Read more...]
Blog – Missing Contracts and Unenforceable Agreements – How Lenders Can Slip Up When It’s Time to Call in a Debt
Lenders on both sides of the Atlantic are falling foul of legislation when it comes to calling in a variety of debt. They have an obligation to be able to provide their customer with a copy of the original agreement as it was when the loan, hire agreement etc. was taken out, and that includes the interest rate being charged.
Following on from Thomas Kase of Spend Matters white paper “Effective Contract Discovery, Analysis and Control”, Kase, again working with Seal has produced an insightful look at the basics of Contract Discovery and why, as he puts it, “Contract management is a necessary core competency for organizations of all sizes.” [Read more...]