Marlene Bauer, SVP of Professional Services at Novatus, a BidSync partner, presented five “top tips” that guarantee to improve your experience with your CLM solution. Watch the webinar here: http://www.bidsync.com/resources/webinar/webinar-05-30-2013-watch/

1. Contract Management in the Cloud
Tips and Technology for Efficiently Managing Agreements

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Sean Parry
Vice President of Marketing
BidSync
Marlene Bauer
Sr. Vice President of Professional Services
Novatus
Presenters

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Mission Statement
At BidSync, we strive to
help our customers save
money and build trust with
their constituents by
supplying best-of-breed
e-procurement solutions,
which provide efficiencies,
compliance and
transparency.

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BidSync at a Glance
Proven Value Reliable ROI
1,000+
Customers
(and growing!)
97%
Customer
Retention
99.9%
Uptime
Rapid
Deployment
700,000+
Vendor
Database
Savings

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Customer Highlights
Wiley ISD
PUBLIC SECTOR HEALTHCARE EDUCATION
Denton County Transportation Authority

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Integrated, End-to-End Solution

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Today’s Agenda
Situation / Needs
Challenges
Top Tips for CLM Success

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• Do more with less
• Provide information
transparency
• Mitigate risk
• Ensure compliance and
auditability
• Avoid over-spending
• Realize the full benefit of
the contract
Situation / Needs

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• Poor visibility to
contracts
• Maverick contracts
• Process deficiencies
• Lack of tracking of
performance to contract
terms
Challenges

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• Deploy an automated
Contract Lifecycle
Management (CLM)
solution
• Cloud-based solutions
deploy quickly and are
easy to manage (do not
require your IT
department)
• Top tips to follow…
Solution

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TOP TIPS FOR CONTRACT
MANAGEMENT SUCCESS
Concepts and Practical Applications

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1. Manage your Contract
Portfolio and Create Visibility

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• Contracts are Assets
• The Foundation of Your Relationships with Suppliers
• Create Visibility
• Manage Contracts Globally as a Portfolio
1. Contract Management & Visibility

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Maintain High-Level Visibility to Contracts
1. Contract Management & Visibility

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Drill Down View into Contract Record
1. Contract Management & Visibility

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Track the Contract Family (e.g., Master, SOW, Change Orders)
1. Contract Management & Visibility

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Benefits
• Improved decision making
• Greater transparency for those who need to know
• Productivity
• Foundational step for all other goals of CLM
– Risk mitigation
– Supplier management
– Contract optimization
1. Contract Management & Visibility

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2. Manage Key Dates
Electronically

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• Termination dates
• Notice dates
• Milestone dates
• Auto-renewal dates – avoid unwanted renewals
• Use automated event alerts and other system tools to
manage dates proactively
2. Manage Key Dates Electronically

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Use Alerts to Manage Contract Renewals
2. Manage Key Dates Electronically

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Event Alert for Upcoming Milestone Target Date
2. Manage key dates electronically

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Manage Upcoming Renewals
& Avoid Unwanted Auto-Renewals
2. Manage Key Dates Electronically

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Event Alert for Upcoming Milestone Target Date
2. Manage Key Dates Electronically

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Benefits
• Cost avoidance (unwanted auto-renewals)
• Access to info / productivity
• Compliance with date-driven obligations
• Decision support / ability to plan and forecast renewals /
budget info
2. Manage Key Dates Electronically

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3. Standardize and Automate
Your Form Contracts

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Strategic Value of Standard Forms
• Mitigate risk by ensuring you always start with your
desired terms/conditions
• Provides strategic advantage in your negotiations
– Makes a statement: we know contracts and we know
what we want
– Forces the other party to respond and react
• Saves time
3. Standardize and Automate

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Optimize Your Standard Forms Make Forms Efficient
• Content: Standardize similar
clauses across forms
• Format: Utilize Word
functions (styles, auto-
numbering)
• Version your documents for
change management
• Automate in a CLM system:
– Make them intelligent
forms
– Reduce the number of
forms and make them
easier to manage through
automation
3. Standardize and Automate

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Managing your Standard Forms in an automated system
ensures the most current version is used with no
unauthorized modifications
3. Standardize and Automate

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Merge Fields can be used in your contract form to avoid
duplicate data entry
3. Standardize and Automate

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Wizard questions drive inclusion or exclusion of specific
terms to the Standard Form
3. Standardize and Automate

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Benefit
• Reduce business risk by optimizing process/tools to enable
favorable contract terms
3. Standardize and Automate

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4. Use Workflow Automation to
Manage Your Contracting Process

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Processes
• Define/streamline your contract processes
• Communicate your processes clearly and repeatedly
• Use automation to drive your processes
4. Workflow Automation

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Establish and control work flow to ensure necessary
processes are followed
4. Workflow Automation

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Tracking
• Track your actions/negotiations on in-process contracts
for your stakeholders: where is my contract?
• Capture process footprints for audit purposes / evidence
of your process and that it is followed
4. Workflow Automation

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Workflow steps provide visibility to current status of the
In-process Contract and establish an audit trail of process
4. Workflow Automation

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Benefits
• Visibility to processes
• Audit compliance
• Productivity / cycle time (identify the bottlenecks)
• Mitigate business/contract risk by ensuring processes
are followed
4. Workflow Automation

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5. Manage compliance with
your CLM system

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• Regulations / initiatives
– Diversity goals and certifications
– HIPAA (Health Insurance Portability and Accountability Act) / privacy of
medical info
• Auditors
– Process / separation of duties, financial stewardship
• Compliance through contract visibility, process control, workflow tracking,
standard forms, managed dates, etc.
• Rights/Responsibilities
– Avoid breach by complying with your responsibilities
– Ensure vendor performance
• Avoid Overspend
– Track actual spend against contracted amounts
5. Manage Compliance

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Manage IT project milestone targets and completion dates,
with associated payments
5. Manage Compliance

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Track Diversity Spend as well as Diversity Status and
Certifications
5. Manage Compliance

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Benefits
• Compliance, risk management (cost, reputation, legal,
viability)
• Ensure value for expenditure (acceptance-based
milestone payment schedule)
• Avoid over-spend
5. Manage Compliance

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1. Manage Your Contract Portfolio & Create Visibility to
Contracts
2. Manage Key Dates Electronically
3. Standardize and Automate Your Form Contracts
4. Use Workflow Automation to Manage Your Contracting
Process
5. Manage Compliance with Your CLM System
Top Tips for Contract Management Success

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Questions

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Thank You
MARLENE A. BAUER
SVP, PROFESSIONAL SERVICES
BIDSYNC / NOVATUS, INC.
MBAUER@NOVATUSINC.COM
+1.503.913.1009
WWW.BIDSYNC.COM
WWW.NOVATUSCONTRACTS.COM