ai transforming contracts from remote history ... - amazon … · ai transforming contracts from...

AI TRANSFORMING CONTRACTS FROM REMOTE HISTORY TO MODERN METRICS

Webinar: April 2nd, Tuesday

Ultria.com

GET SPEED AND CONTROL THROUGHOUT YOUR CONTRACT LIFECYCLE

Peggy is a passionate advocate for the importance of driving excellence in contracting and the commercial management function to business success.She joined the International Association of Contract and Commercial Management (IACCM), a global non-profit focused on driving contracting excellence, last October after a long and successful career at HP where she led global strategic initiatives and held many leadership roles that helped her build knowledge and expertise in contracting.Peggy enjoys developing innovative solutions to complex challenges that drive contracting and commercial excellence, and she looks forward to collaborating with who share her passion for driving excellence and innovation in contracting and commercial management across functions.

Peggy BarberRegional CEO Americas and Global General Counsel, IACCM

Ultria.com


Mr. Raguette is very passionate about the application of

innovative technologies to solve real-world business

problems with a strong emphasis on enterprise

solutions.

Arthur has more than two decades of experience in

working in Information Governance domains across

industries. Arthur’s prior technology passions included

high-performance B2B middleware, SaaS deployed

master data governance platforms and hybridized SaaS

applications for HR, and Employee domains.

Arthur RaguetteExecutive Vice President, Ultria

AGENDA

Summary and Q&A

5 signs your contracts are being treated as remote history

About Ultria

Why does it matter in today’s day and age?

Turning contracts into modern metrics for post award

contract management

a) Convert contracts into accessible structured data by not just

centralizing but also digitizing

b) Connect your contracts to enterprise wide systems such as ERP and

CRM so they can communicate and keep you informed!

c) Configure custom metrics and milestones to track contractual

obligations

d) Stay in control of compliance

e) Leverage risk analysis on the contract data with AI-based technology

f) Champion a culture of excellence and performance using contracts

Ultria.com


5 Signs your

contracts are

being treated

as remote

history

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1. Post sign-off, are your

contracts tucked away in

computer folders, or

worse in cabinets?

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2. Are contracts dug

out only at the time

of auditing?

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3. Do you have no

way to monitor or

measure contract

performance?

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4. Do you have poor

or zero visibility into

your contracts’

lifecycle?

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5. Is finding old

contracts difficult?

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POLLQUESTION#1

How modern is your contract management?

a) Contracts kept in cabinets and computer folders, dug out during audits

b) Contract files managed in document management systems or some sort of repository

c) Contracts truly digitized and integrated with ERP to track obligations fulfilment

AGENDA

Summary and Q&A


About Ultria



contract management






obligations




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Why Does it

Matter in

Today’s Day and

Age?

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• In the past decade, businesses have been

rapidly expanding across the globe

• Inaccessibility of contract documents

across locations creates disparities in

pricing and compliance, thereby leading to

untraceable leakages in cost

Globalization

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• Volatile prices and ever-changing

laws have made static contracts

redundant

• Contract clauses today need to be

dynamic and flexible and thus

demand being monitored regularly

Dynamic Nature of Contracts

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Increased and Fast-changing Regulations

• Environmental regulations and state

and federal level compliance

standards are changing and updating

continually

• Forgetting contracts post-sign will only

expose enterprises to increased risk

and losses

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• Large companies today have systems dedicated

to different areas like CRM systems, billing

systems, ERP systems etc.

• A CLM solution with no integrations with these

systems leads to a lack of communication and

visibility amongst stakeholders, thereby

reducing accountability.

Multiple organizational systems

AGENDA

Summary and Q&A


About Ultria



contract management






obligations




Ultria.com


Turning

Contracts into

Modern Metrics

for Post Award

Contract

Management

Ultria.com


DIDYOUKNOW? 75%

Percentage of compliant contracts is the metric most

voted as “Very Important”, 2X compared to Contract

Authoring Cycle Time. (Source: Ultria CLM Survey 2019)

Yetof contracts lack KPIs and

TCO reporting (Source:

McKinsey )

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A. Convert contracts into accessible structured data by not just centralizing but also digitizing

• Make use of customizable

dashboards for visibility

into all important contract

information

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• Use Robotic Process

Automation (RPA) for

request intake from

everyday business

platforms (MS Outlook,

CRMs e.g. Salesforce,

External Party Portal,

Internal Portal etc.)

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• Set milestones,

triggers and alerts

for any upcoming

deadlines,

payments, renewals

etc.

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Free text search


• Enjoy easy and advanced search

options to search any contract

anytime, with structured metadata

tagging

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Metadata-based search


• Enjoy easy and advanced search

options to search any contract

anytime, with structured metadata

tagging

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B. Connect your contracts to enterprise wide systems such as ERP and CRM

• Integrate enterprise wide

systems to match business

operations against contracted

obligations, real-time

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B. Connect your contracts to enterprise wide systems such as ERP and CRM

• Get updates based on trends

(such as delivery, payments etc.)

to facilitate timely action and to

stay ahead of the deadlines

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C. Configure custom metrics and milestones to track contractual obligations

• Assign milestones and metrics

to respective stakeholders to

ensure accountability rests with

the right person

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C. Configure custom metrics and milestones to track contractual obligations

• These milestones allow

companies keep track of

contract obligations,

commercials, performance

and renewals

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D. Stay in control of compliance

• Streamline post-award compliance

management with clause level tracking

for environmental, state, federal and

international regulations

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D. Stay in control of compliance

• Speed up response to changing

regulations by identifying compliance

gaps, modifying existing contracts and

updating stakeholders

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E. Leverage risk analysis on the contract data with AI-based technology

• Identify and act on contract text

risk where specific changes to

text can secure your enterprise

against losses or penalties

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E. Leverage risk analysis on the contract data with AI-based technology

• Assess contract party risk using

past trends and data from

complementary business

systems

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F. Champion a culture of excellence and performance using contracts

• Report on metrics that are

key to your business

stakeholders e.g. contract

utilization report, contract

commercials report, risk

analysis report etc.

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• Show a reduction in contract

management operations cost, compliance

management costs and illustrate savings

captured and impact to revenue


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• Capture and demonstrate a steep reduction

in cycle-times and overall increase in

contract management operations efficiency

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POLLQUESTION#2

Which of the following metrics are most important for your organization to track?

a) Contract performance metrics (delivery timelines, renewals, obligations management etc.)

b) Contract utilization metrics (percentage utilization, payment terms utilization etc.)

c) Contract compliance metrics (risk analysis, percentage of regulatory compliance etc.)

AGENDA

Summary and Q&A


About Ultria



contract management






obligations




Ultria.com


About Ultria

Ultria develops and licenses Ultria CLM -

Contract Lifecycle Management for

enterprise legal departments.

Ultria.com


Proven CLM Software

Ultria’s scalable, SaaS-delivered CLM

software leverages Artificial Intelligence

and Machine Learning to deliver unrivaled

ease of access and ease of adoption in

today’s complex business landscapes.

Ultria’s CLM technology has been

deployed at 100’s of large enterprises.

Ultria.com


AIPowered

Contract LifecycleManagement

Ultria Product

Overview

Ultria CLM has been designed

to give you speed and control

throughout your contract lifecycle:

• Request

• Draft

• Internal Review

• External Negotiation

• Sign-off

• Compliance

• Renewal

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Why AI-driven Ultria CLM?

Ease of Access Central Control Powerful

CollaborativeEase of Use Connected

AGENDA

Summary and Q&A


About Ultria



contract management






obligations




Ultria.com


Summary & Q/A

• 5 signs your contracts are being treated as remote history

• Why does it matter in today’s day and age?

• Leveraging AI to turn contracts into modern metrics for post

award contract management






obligations




Ultria.com


Helpful resources on AI in CLM from Ultria

AI-Powered Contract

Lifecycle Management

: Shifting to Contract

Intelligence

https://www.ultria.com/resources/ai-powered-contract-lifecycle-management-shifting-to-contract-intelligence/

Artificial Intelligence

Driven Ultria CLM for

Legal Operations

https://www.ultria.com/resources/ultria-artificial-intelligence-driven-clm-for-legal-operations/

https://www.ultria.com/resources/ai-powered-contract-lifecycle-management-shifting-to-contract-intelligence/

https://www.ultria.com/resources/ultria-artificial-intelligence-driven-clm-for-legal-operations/

Ultria.com


Arthur Raguette

EVP – [email protected]

Thank You

ai transforming contracts from remote history ... - amazon … · ai transforming contracts from...

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