Therefore, to summarize the current situation:
In many organizations, ‘contracting’ is not a defined process. It depends on a series of actions by a range of functional groups, with no overall ownership or accountability for performance.
The functions that ‘own’ contracts (Legal, Contract Management) are not typically leaders in technology. Their aspirations often extend only to database or document management solutions that facilitate their own search and records.
Negotiated contracts are complex instruments. They have (potentially) high levels of variability. By definition, a negotiated term does not fit within the standards assumed by other applications (e.g. the ERP system). Interfacing is therefore complex and to be successful requires extensive resource commitments to support implementation.
Given the lack of executive champions and the dependency on inter-functional collaboration, contract management software projects frequently struggle to maintain their momentum. This has clearly frustrated acquisition levels.6[1]
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Docusign to acquire Lexion: M&A rapid analysis
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Earlier this week, Docusign announced its agreement to acquire Lexion, a
contract analytics specialist, for $165 million. The acquisition will
factor int...
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