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Most multinational companies face the same issues and challenges when answering business requirements. The most common challenges faced are:
In many organizations today, the management of project execution is performed with other frequently unintegrated solutions. This can lead to problems as redundant data is stored because project stakeholders work in different applications. Integration gaps lead to time wastage and cause information losses making it difficult to get a clear overview of current status of individual project and overall project portfolio.
As a result of the above SAP has come up with the SAP PPM solution.
SAP PPM is a part of the SAP PLM (Product Lifecycle Management) suite from SAP. SAP PPM is the combination of SAP Resource and Portfolio Management (SAP RPM) solution and the Collaboration projects (cProjects) solution.
These solutions seamlessly integrate with one another to give optimal management tools. The effective project and portfolio management function allows one to obtain information from different project management, HR, finance and time recording systems. Hence one can monitor and coordinate all projects in the enterprise by optimal use of valuable resources.
SAP PPM has strong interfacing with other modules. Some of the modules SAP PPM interfaces with are SAP HR, SAP CO, SAP BI and SAP PS. Some of the main functionalities of SAP PPM include portfolio management, project management, capacity planning, financial planning, staffing, reporting and generating metrics.
SAP PS is very strong in the area of logistics where it is used as a comprehensive, integrated solution in project management, with many varied functions for controlling and monitoring projects. However in other industries, SAP PS is only used for cost controlling. There is also a close linkage also to the SAP DMS (Document Management System)
Contracts are one of the most important documents in an organisation. Contracts are used for many different purposes from procurement to sales to employment and real estate. Your organisations contracts are significant to the daily operations, because they represent all the business relationships throughout the enterprise.
To ensure that your organisation gets most out of their contracts and limit risk exposure, it has to be ensured that the contract terms and conditions are met and that the contract is based on the approved legal language.
The contract lifecycle management process is the process of managing the complete lifecycle of contracts in an organisation.
The traditional contract creation process is not well structured, because in most companies the best practice processes are not available or not visible to all the users. Central repositories for pre-approved clauses and templates are not available and therefore users face the problem that they don’t know if they are using a template which is the most up to date version or worse don’t know that a template at all exists. The above mentioned issues translate into a manual, paper intensive processes which are time consuming and can expose your company to increased legal risk, because the contracts are not authored based on preapproved clauses and templates.
If contracts are negotiated outside of a system the audit trail is missing and no visibility is available which clause changes were requested by the external party and which was the state of negotiation at certain point in time.
The conventional contract creation process lacks the sufficient controls to detect that an important clause was changed during contract creation or contract negotiation and if unapproved maverick clauses were used by bypassing the pre-approved language of the clause library.
Approval histories are challenging and companies have no visibility who approved a contract and the approval process is only enforced by business processes and difficult to monitor.
After the contract is created and authored the contract should be stored in a repository.
The contract creation process can be time consuming and it might take months to get the contract negotiated and approved. Many Organisations don’t have a central repository for their contracts and therefore have only limited visibility into their existing contracts. A lot of money is spent to author and negotiate a contract with the most favorable terms and conditions and at the end the contract ends up on someone’s desk and the authorized users in the organization are not able to gain access.
Due to the lack of visibility, multiple contracts are negotiated with the same supplier for the same product or product category and the enterprise is not able to leverage their procurement power. In addition, the lack of visibility of the signed contracts leads to a lack of visibility regarding the financial and legal commitments out of the signed contract.
Due to the lack of a central repository companies have a poor renewal management, because they are not able to monitor their ‘evergreen contracts’ and no sufficient alert notifications are available. As mentioned already in the previous chapter, the missing audit trail capabilities leads to an inability to track the regulatory compliance.
The performance management is where the previous negotiated terms and conditions of the contract are used in an execution system in form of an operational contract which serves as a source of supply.
Most customers don’t have integration between the legal contract which was negotiated with the supplier and the operational contract which is used as a source of supply – kind of a vehicle to execute the legal contract in an operational system. This missing link between the legal contract and the operational leads to compliance issues and will expose your company to legal risks if the purchasers don’t have any visibility into the negotiated terms and conditions.
Your company might pay higher prices because the previous negotiated prices are not available for the purchaser and the discounts are not applied correctly.
Now that you know about the contract lifecycle management process and the customer pain point, the next part we should investigate how to overcome those pain points by how to implement a contract management solution.
Lejara Global Solutions have the necessary skills to transform your Contracts Life Cycle processes and also Implement SAP CLM solution to alleviate all the challenges listed above. Contact our specialists at email@example.com
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