Ptolemy – the Wikipedia of contract lifecycle management

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A free application that helps to answer the question: which CLM tool should I buy?

The summer holidays are finally here, and many of us – including me – are busy packing our bags in preparation for travel to our favorite destinations. The Google Maps icon will sneak back onto the main screen of our smartphones, making us wonder how we ever survived without it.

But have you actually ever thought how difficult travel was in the age before maps? With terra incognita all around, traveling was dangerous, and people never knew what was waiting at the end of the road. Some, like Ptolemy, drew maps to help others, and many years later the world has become a global village.

Although thankfully these times are long gone, for those of us looking to navigate the highways and byways of contract management automation, the journey can still be arduous. There are literally hundreds of applications with differing capabilities on the market, and very little guidance on which one/s you should choose.

This was the main reason why IACCM (International Association of Contract and Commercial Management) invited Capgemini to collaborate on creating the “Ptolemy” project – a map of the current contract lifecycle management (CLM) world  . This was also a response to a survey of over 43,000 IACCM members revealing that 80% of the respondents were not satisfied with their recent CLM implementation.

What did we want to achieve?

  • A report to describe the current situation on the CLM market, observed trends, and our predictions for the future.
  • A list of the main CLM capabilities to “narrow the battlefield” and give the audience a feeling of what they could expect from CLM application(s).
  • A web application and Wikipedia of CLM, a place where people can use a set of filters/requirements to find the answer to the question: which tool should I buy?

A year on and we now have our CLM map! We know it’s not perfect and we know there’s work to be done in adding more details and vendors– but we have it. By using it, you will at least know how to get to the sea and how to get to the mountains, and you’ll never mistake these two directions.

We’re giving away our CLM map to the contract management community free of charge – anybody can use it to plan their CLM journey. But having spent months researching and creating the map, we can proudly say – Capgemini can be your guide and navigate you on your journey to automate your contract management function.

Even if you’ve already started your journey but have lost your way, we can rescue you from the CLM jungle and will welcome you by paraphrasing the famous quote: “Mr. Client, I presume?”

Visit our Ptolemy contract management tool and start your journey towards automating your contract management function.

To learn more about how Ptolemy can help you navigate the rocky roads of contract lifecycle management, please contact: krzysztof.kwiatek@capgemini.com

Read the Capgemini-IACCM report on simplifying the selection procedure for automating contract management.

 

 

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