NOTE: This is the sixth and final article in this series. Start here if you missed the previous articles: CLM Health Check Pillar 1.
Marshfield’s CLM Health Check service, a systemized, holistic evaluation to identify inefficiencies, gaps, and improvement opportunities, is designed to turn your CLM software into a maximized tool to deliver the most business value it possibly can. This blog series takes the 10 pillars of the Marshfield Method, briefly defines and describes each pillar, and then walks you through evaluating the health of your CLM system as it relates to each individual pillar.
The final pillar of the Marshfield Method is Contract Administration, which means ongoing support and updates for the CLM system. Contract Administration also encompasses the ability for the CLM system to adapt and evolve with the business, while remaining at peak efficiency. As such, thinking through how the CLM process is administered and allocating the right balance of internal and external support resources is critical to sustaining and expanding your successful CLM deployment.
Indicators of Good Health:
- Contract administrators understand the CLM system well, and how to fully operate it.
- The system administrators have the proper level of authority to fill in any gaps and allocate necessary resources.
- There are appropriate processes in place around recurring updates to maintain system health.
- Where applicable, manual tasks are automated to other systems of record.
- Appropriate engagement with business stakeholders to fine tune the product and expand use cases.
- End users know how to access self-service help and support resources.
- Administration activities have kept pace with the maturity and advancement of user skill levels.
Indicators of Poor Health:
- Gaps in user training, untrained users, and/or lack of training resources and support.
- Tool, configuration, and activity reviews are not being done.
- No review of the system or changes/updates to the system since its implementation, indicating complete lack of administration resulting in stagnation.
CLM is a living, breathing system, and processes must evolve with technological advancements and changes in the business environment. Failure to adapt and advance results in a system that becomes outdated and less effective over time.
The Marshfield Method, with its ten pillars of Contract Lifecycle Management (CLM), provides a robust framework for assessing and optimizing contract processes for businesses of any size.
Each pillar, from Contract Preparation to Contract Administration, is a critical aspect that should operate with efficiency, accuracy, and compliance in contract management. By focusing on the health of these pillars, organizations can streamline operations, reduce manual interventions, and leverage automated solutions to enhance overall performance.
Marshfield Consulting’s expertise and comprehensive approach enables businesses to transform their CLM systems into powerful tools that drive value, improve governance, and support strategic decision-making.
Trust in our proven methodology to guide your organization towards a more effective and seamless CLM experience. Contact us HERE.
