Digitising contracting processes & breaking down silos
What if digitising contracting processes could break down the silos between Legal and operations?
All organisations are looking at ways of being more effective and efficient, to drive down costs, or increase productivity, or simply to make the customer experience better. But sometimes our own internal systems and business silos, with that protective mentality, get in the way. And there is no bigger logjam or ensuring the organisation stays in the dark, than by using paper.
Forward thinking organisations are breaking down these barriers, using technology and new business processes to improve the value each discipline can contribute.
For example, instead of looking at the legal function in its own “box”, and operations, or sales or procurement for that matter, as separate entities with their own technology and processes, those with a digital mindset are re-inventing how they interact with their stakeholders, both internal and external.
If an organisation values its underlying data, as a way to becoming more competitive and gaining valuable insights, then it needs to look at where this data originates from and how it flows through the organisation, and at what point it needs to be captured, interpreted and acted upon.
An organisation is the contracts it enters into, so it makes sense therefore, that any digital strategy encompasses the processes around generating and executing on these. The goal should be one seamless, integrated and automated process.
Imagine getting to the point where the contract origination, signature, as well as identifying the respective obligations and tasks, distributed to the relevant stakeholders, could be automated to the point of “one click”.
We believe that one day all organisations representing all services will reach this goal.
Those that get there first will receive the most benefit by creating an un-paralleled customer experience, highly efficient contracting and execution process, real time insights, leaving their competitors in the dark.
For a discussion on how your organisation can move from the dark ages towards the new world of digital transaction and contract management, feel free to contact us here.