An infinite number of things can go wrong on any project, and as such, it is understandable that people working on these deals are often scrambling to respond to events, rather than being in a position to proactively manage them. Follow a simple formula, however, and your project will be a success!
(People▼) + (Best Tools & Processes▲) = Successful Projects
People are your greatest and most expensive asset. Through my role in implementing best practice contract management within organisations, I’ve had the privilege of working closely with a real mix of people from extremely diverse professional backgrounds. Some have spent the bulk of their careers on the battlefield and have since been able to use their hard-earned experience to successfully transition into commercial roles, whilst others may have come through the more formal commercial, accounting, legal or engineering ranks.
People are a critical ingredient, but the reality is that few companies (possibly with the exception of Amazon) can afford to hire only the best people, and no one person can deliver a project on their own. Create a diverse team with a shared passion and objective and you are one-third of the way there.
In the same way that a carpenter needs her tool belt, people working on these projects need to be equipped with the necessary tools in order to allow them to spend their time focusing on creating value. Why would any organisation pay top dollar for someone to then have them work on areas that can be done by technology??
We at Affinitext focus on making documents and contracts Intelligent, thereby allowing the documents themselves to do the heavy lifting and in turn providing organisations and their teams with the means to proactively manage their contracts in a way that delivers a return on investment in a single day.
So you have the people and the tools. The final ingredient is to embed processes that will ensure that the organisation’s team-members and adopted tools are being used in a way that drives the desired outcomes. Insofar as contract management is concerned, Affinitext works closely with customers to ensure that these processes are identified, embedded and engrained within the customer organisation’s culture.
Please reach out directly if you’d like to discuss anything mentioned in this post and/or would like to learn more about Affinitext’s Intelligent contract management solution.