When Elizabeth Holmes founded Theranos in 2003, she proclaimed to have a vision: to revolutionize the world of phlebotomy by inventing a device that could perform a wide range of diagnostic blood tests – from diabetes to cancer – all with only a few drops of blood.   The problem?  None of it was true.  Holmes’ technology was later revealed to be fraudulent, with Theranos going as far as outsourcing bloodwork to traditional labs and claiming to have run it through their machines. Ultimately, Holmes was convicted to 11 years and three months in prison and Theranos’ machi ..read more

Do you remember playing “Telephone” as a child? The game involves whispering a phrase or sentence from one person to another and seeing how much it changes by the time it reaches the last person in the group. By the end of the whisper-chain, “unique New York” might become “you need new shorts.” Though a lighthearted example of a schoolyard game, breakdowns in communication can have serious consequences in contract management, such as process bottlenecks, unintended auto-renewals, missed obligations, lack of compliance, lost opportunities, and more. If you’re worried about these potential conse ..read more

Contracts play a vital role in various situations, safeguarding the interests of everyone involved – from employees and employers to businesses, sellers, and consumers. They outline the precise terms and conditions of an agreement. Familiarizing yourself with different contract types can be valuable in developing an effective contract management strategy for your organization. The more familiar you are with the varying contract types, the simpler it becomes to select the appropriate one and safeguard your business. Here’s a handy guide of the types of contracts you should be aware of. 10 types ..read more

If there were only one thing you could do to increase business success, what would it be?  That was the question at a lightning round at this year’s Agiloft Summit, hosted in Las Vegas in January. Moderated by LexFusion’s Chief Strategy Officer Casey Flaherty, the panel featured some of the best and brightest minds in contract management, including: Sally Guyer, Global CEO of World Commerce & Contacting; Pierre Mitchell, Chief Research Officer of Spend Matters; Dawn Tiura, CEO and President of Sourcing Industry Group; Alla Valente, Senior Analyst at Forrester; and Mike Haven, Head of ..read more

A CLM without dedicated users is like Vegas with no casinos – an empty desert of lost opportunities.   Encouraging CLM user adoption and change management across the enterprise was the topic of a lightning round panel discussion at our Agiloft Summit 2023 this past January in Las Vegas.  Hosted by Agiloft’s Steve McKean, the panel featured Rebecca Thorkildsen of Deloitte, Amy Good from HBR, Michael Callier of Factor Law, and Emma Spektor of Ernst & Young.  “Achieving business objectives around change and new processes and new technologies is hard,” Steve ..read more

How mature is your organization’s current CLM program? Maturity has a different meaning for each organization. Recognizing your organization’s CLM maturity stage can help in setting goals for the year ahead. It can also offer a framework for communicating at the leadership level on expectations related to risk, slower cycle times, and areas for improvement. What do we mean by maturity? Early-Stage Capabilities: lack of standardization and centralization. Mostly ad hoc, traditional approach to legal work (although could be a good substantive quality) Intermediate Capabilities: systems and stan ..read more

Today, when any business process requires the interconnection of several tools and interfaces, the risk of inefficiency is greater than ever before.   Disparate data sources that aren’t seamlessly integrated are a common cause of frustration, especially when working across functions in a large organization with siloed practices leveraging different flavors of tools and software. Any disruption or delay can significantly impact your sales cycles and revenue generation.  As a contract professional, creating structure from that complexity and chaos is a tough challenge. Fortunately, an ..read more

We’re back! After a three-year hiatus due to Covid-19, we’re excited to announce that registration is now open for the Agiloft Summit 2023 from January 24-26 at the luxurious Virgin Hotels Las Vegas.  With the theme of LIMITLESS, this three-day, exclusive customer event will bring together the industry’s top thought leaders–from analysts to contract strategists, to Agiloft customers, to partners from the world’s leading organizations–to break boundaries, defy expectations, and truly push the limits of what is possible with contract lifecycle management software.  Custom tailor your e ..read more

How to talk to your executive team about CLM maturity (hint: more revenue, less risk) What happens when top corporate lawyers realize the hidden business value of advanced contract lifecycle management (CLM)? We must assume that many of them leverage that knowledge and the rich data that comes with it to advance company goals. However, earlier this month, they did something else. They came together to host a webinar, sharing with others how agile CLM has brought down silos and generated more value from contracts—transforming them from static documents into the lifeblood of thriving enterprises ..read more

During this week’s installment of the Agiloft Webinar Series, we sat down with Heather Drouin, Staff Attorney at BISSELL Homecare, Inc., and Paul Branch, Chief Networking Officer at World Commerce and Contracting (WorldCC). Heather talked through the challenges of a small legal team struggling to manage contracts with email and spreadsheets and what the process was like once a contract management system was implemented at BISSELL. There were many great takeaways during this week’s webinar, so we thought we’d share some of the most impactful with the Agiloft Community as well. Overcoming key co ..read more