Contract Lifecycle Management (CLM) Vendor Selection

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CLIENT:

Major Data Aggregator for Risk Solutions 

BACKGROUND:

International client helping customers manage risk decisions using powerful analytics and scoring solutions.  The project was focused on a U.S.-based Contract Management Lifecycle (CLM) software vendor selection. 

CHALLENGES:

The client services a wide range of industries for which contract structures varied from low volume, high complexity to high volume, standardized formats. Contracts were created and managed using outdated technology and mostly paper based. This environment created challenges for accessing renewal dates, limited search capabilities and was fraught with errors. 

WHAT I DID:

Led the client through all aspects of software vendor selection including selection criteria, requirements development, RFI/RFP development, vendor demonstrations, and a disciplined scoring methodology.  Facilitated a team of clients consisting of both business and technology participants. 

Additionally, led the client through the selection process and development of a 5-year Total Cost of Ownership.   

RESULTS:

Accelerated the CRM vendor selection from a lingering project to within ~5 months