Effective contract management requires a multidisciplinary approach with multiple functions and business groups involved in driving an optimized contract life cycle.
Morae offers an integrated contract life cycle management approach that delivers
- Better financial and business outcomes: Improvement in bottom-line performance for the enterprise (8-10 percent)
- Significant competitive advantage: Substantially shorter times closing deals
- Improved risk management: Significant reduction in the frequency of claims and disputes (25-30 percent)
- Strengthened relationships with clients and third parties: More effective partnering with key customers
- Improved data integrity: Faster and more consistent adoption of new tools, reports and analytics
Morae’s Solution is a multidisciplinary, integrated solution that seamlessly weaves together attorneys, technical and process experts and contracts management professionals.
We help you build an integrated contract management solution and then manage it on an ongoing basis.
Our professionals have significant expertise in contract management, deep industry knowledge and the broadest range of capabilities to help optimize and streamline the entire contract life cycle. We have experience with a variety of industry-leading enterprise contract management systems as well as industry-specific and cloud-based contract management software solutions such as Apttus, SpringCM, Exari, Icertis, Emptoris, OpenText and Ariba. We are also adept at using advanced AI and machine learning tools.
On-Demand Contract Experts
Contracts are an essential building block of business, memorializing the commitments upon which a company is built. We help you improve your contract templates, design approval processes, negotiate with counterparties and administer your contract portfolio. Your contracting can become be a core competence, resulting in strategic advantage and increased profit. Our Commercial Contracts Service is a complete and essential contract management solution. From intake through negotiation to administration and every step in-between, we put the right technology and the right attorneys with the right pedigree on your side. We serve as a strategic partner to make sure your contract management process is cost-efficient, compliant and streamlined.
We have unparalleled expertise, relationships and product knowledge to evaluate technology and focus on how it can work for you. We help find the right platform for you and assist with the following key steps:
- Prepare detailed requirements covering business, functional and technical areas which focus the team on selecting the right tool and form the basis of design activities.
- Assist Legal/IT in understanding the costs and benefits of each system and any associated infrastructure requirements.
- Execute on requirements by providing best practices, innovative thinking and tailoring to business needs.
Getting a project off the ground can be difficult. Securing funding, building business-level support, defining the needs of each stakeholder and scoping an early draft of the project plan present their own challenges. Morae Global can guide you through these challenges:
- Perform a needs assessment to size, estimate and plan for the level of effort, resources, time and budget required.
- Define and prioritize the business and technical requirements of each (and often competing) stakeholder.
- Perform a stakeholder analysis to quantify the impact to each affected group and the readiness of each group to adopt new processes and technology.
- Develop and deliver a prioritized implementation plan with tasks, roles, responsibilities, deliverables, milestones and dependencies.
Implementations are complex given the multiple stakeholders, parallel work streams, limited resources, and so on and so forth. We can assist with the following:
- Design and document workflows to support and enhance your current operations.
- Configure your system’s technology to align with your company’s specific needs, including the creation of templates, users, roles/permissions, data source connectors, notification settings, etc.
- Migrate existing data from current systems, spreadsheets and databases into a new system for use on Day 1.
- Design and execute tailored testing scenarios to validate that the design satisfies your company’s requirements.
- Provide the necessary project management support throughout.
With change comes uncertainty, and with uncertainty comes fear and resistance. Readying the organization and equipping the user base with tools and training are essential to successfully managing change. Morae Global can provide proactive techniques:
- Draft communications to socialize changes across the organization, educate impacted stakeholders and build excitement.
- Create training materials, such as step-action operating manuals and training presentations.
- Conduct end-user and/or administrator training to build internal expertise and position you to be self-sustaining.
- Provide post-implementation support to monitor system performance and offer supplemental training, as needed.
Implementing a defensible solution is only half the battle. Continuous monitoring, maintenance and improvement are equally important. Morae Global’s Health Check offering is a quick, low-cost diagnostic of your existing operations aimed to:
- Evaluate current technology to ensure full functionality and modules purchased are being optimally leveraged.
- Enhance processes to more efficiently manage the full range of matter needs, data volumes and workflows.
- Develop solutions to address pain points and/or resolve process gaps.
- Measure user adherence to your policies and standard practices to quantify potential risk areas.
- Validate alignment between your existing technology in use and your future state vision.
Our managed services are designed to support ongoing contract management and administration to help you enhance revenue, mitigate risks and reduce costs.
Post-Implementation Support: Supplement your contract management post-implementation needs with managed services to provide operational post-production support such as contracts help desk support, user management (maintain and assign roles, security groups, folder structures), training users on your CLM system, ongoing data and analytics management, configuration and maintenance of standard configurations and advanced workflows and reports generation and maintenance.
Ongoing Contract Administration: Full life cycle management of a contract from intake drafting, negotiation and execution as well as post-award amendments, obligation and renewal management. You can leverage our eLEXir attorneys who will work seamlessly as an extension of your in-house legal team to help you achieve operational excellence and improve business outcomes.
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