Contract Lifecycle Management: The Dinosaur and the Robot – Make Friends not War

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The next generation of professionals pursuing careers in contract or commercial management, legal, procurement, or vendor management will have to be able to operate in a highly digital and automated environment.

I’ve been writing about contract management, LPO, and digital for quite a while now.  But the reality is that when it comes to a company’s contract lifecycle management (CLM), the teams doing contract lifecycle management are not super nextgen, virtual, cloud, automated, robotic, hyper-digital, six-sigma, touchless, integrated, agile…insert next buzzword here participants. And that’s okay. There are a lot of really smart people out there who have done this for years who, dare I say it, may never be “digital”.  Again, that’s okay.

But while it is okay today, it won’t be tomorrow. The next generation of professionals pursuing careers in contract or commercial management, legal, procurement, or vendor management will have to be able to operate in a highly digital and automated environment. Feel free to argue with me in the comments if you think companies can survive with more “old-school” lawyers or commercial managers.

The future is digital and the present filled with either tech-adopters or the last of a dying breed – dinosaurs. And I use the term “dinosaur” in the most polite way possible. I could very well have named this blog “Robots vs. the Printing Press,” but I doubt there are many Johannes Gutenberg or William Caxton fans still out there.

Now let’s get to the point. We are in a time where technology is pushing CLM to the next level. The next generation (or perhaps this one) will be doing contracting—and all of the associated activities—without paper, perhaps even without people given the projected direction of blockchain and smart contracting. So if the robots are going to take over, what will we do with the dinosaurs? They are big and powerful, so it would foolish to just bet exclusively on the robot in the short term. Besides, there is the delicate little of matter of “change management,” poor varieties of which have killed many a project.

Therefore, we need to look at building a system in a practical way:

1.      Put the robots where they can win and take big leaps that create speed, accuracy, savings, and absolute rule-based consistency.

2.      Allow the dinosaurs some room to manoeuvre, add their value, and make the system more intelligent.

This all may sound very theoretical, but I promise to write more details in upcoming blogs.  The point here is to get you all on board with my premise…and allow me to talk about robots and dinosaurs. Seriously, it’s time for CLM to invest in technology, but companies should also allow the dinosaur room to graze. Given some time, they just might evolve.

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