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Accelerating Sales Through Better Contracting
1. B S
Accelerating Sales
Through Better
Contracting
Thermo Fisher
IACCM
Ariba
Š 2012 Ariba, Inc. All rights reserved.
2. Abstract
Accelerating Sales Through Better Contracting
You're charged with bringing in more revenue, so you're working hard to make your
sales team faster and more efficient. But you keep hitting a wall when it comes to
finalizing your sales agreement. Contracting can be a slow, frustrating process that can
delay or even risk deal closure. Join this session to hear about what best-in-class
companies are doing to accelerate revenues through faster contracting cycle times.
2 Š 2012 Ariba, Inc. All rights reserved.
3. Our Speakers
Lori Lichtenwalter Tim Cummins Dan Ashton
Contract Manager CEO Sr. Mgr. Solutions
Marketing
ThermoFisher International
Fisher Clinical Services Association for Ariba
Contract & Commercial
Management
3 Š 2012 Ariba, Inc. All rights reserved.
4. B S Accelerating Sales
Through Better
Contracting
Lori Lichtenwalter
Thermo Fisher Scientific Inc.
BioPharma Services Division
Contract Manager â North America
Š 2012 Ariba, Inc. All rights reserved.
5. About Thermo Fisher Scientific
⢠Thermo Fisher Scientific is the world leader in serving science. The company enables its
customers to make the world healthier, cleaner and safer by providing analytical
instruments, equipment, reagents and consumables, software and services for research,
analysis, discovery and diagnostics. With annual sales of $12 billion, Thermo Fisher
Scientific has over 39,000 employees and serves more than 350,000 customers in
pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities,
research institutions and government agencies, as well as environmental, industrial quality
and process control settings.
⢠The focus of the BioPharma Services Division includes clinical trial supply services and
supply chain management, biological storage and logistics, bio-analytical chemistry testing,
commercial biopharmaceutical product sample management, and pharmaceutical logistics.
5 Š 2012 Ariba, Inc. All rights reserved.
6. History - The Pain
⢠Global
⢠Multiple Templates
⢠Multiple Processes
⢠Agreement Location
Knowledge
Accessibility
6 Š 2012 Ariba, Inc. All rights reserved.
7. Ariba Solutions Deployed
⢠Ariba Contract ManagementTM Professional
Contract Creation and Repository
Contract Process Management
â Version Control
â Negotiation
â Approvals
Contract Authoring
Contract Analysis and Reporting
7 Š 2012 Ariba, Inc. All rights reserved.
8. Implementation/Go Live
⢠Implementation Commencement
March 2011
⢠Go Live
November 7, 2011 (4 + 1 NA site)
December 5, 2011 (Switzerland)
March 5, 2012 (1 Additional NA Site)
Others TBD (2 Additional main sites + 14 other sites)
8 Š 2012 Ariba, Inc. All rights reserved.
9. Flow Process Development
⢠Map Process
To Do/Reviews/Approvals
⢠Condense into buckets
⢠Example:
Contract Creation
Negotiation/Approvals
Finalization/Signature
Contract Completion
9 Š 2012 Ariba, Inc. All rights reserved.
10. Flow Process Development -
Lifecycle
Requestor Submits
Contract Request
Repository / Contract
Monitoring Professional
Approves Request
Contract Workspace
Finalization Created â Approved
Template Provided
Required Reviews
Negotiation
/ Approvals
10 Š 2012 Ariba, Inc. All rights reserved.
11. Solutions/Process, Part I
⢠Contract Request
Creation Date
Contract Needed by Date
Project Start Date
Client Information (name, address)
Ability to Upload Third-Party (Client) Template
Ability to provide important information relative to the project
Contract Professional
â Approve/Deny Request
Additional Information (Project Details; Approx Quote Value)
11 Š 2012 Ariba, Inc. All rights reserved.
12. Solutions/Process, Part II
⢠Contract Workspace
Generates Template
â Based on Internal Entity and Questions/Answers
Third-party (Client) Templates
â Ability to review and maintain tracking and approvals
Negotiation
â Send Template for Negotiation
â Unload Counter-proposal â automatic redlines
â Reviews/Approvals (Several ways to obtain approvals)
Âť Flow Process Defined (âRequiredâ) and Ad Hoc
Completion of Contract
â Sign; Repository
â Notifications Complete
â Monitoring
12 Š 2012 Ariba, Inc. All rights reserved.
13. Global Process
⢠Templates
Certain provisions modified based on global site chosen
â Governing Law
â Country requirements
⢠Process Flow
Same â different reviewers/approvers
Certain
⢠Access Control
13 Š 2012 Ariba, Inc. All rights reserved.
14. Benefits/Results, Part I
⢠Increase contracting productivity and âease of doing businessâ
Correct templates utilized
Correct information
No duplication
⢠Leverage favorable client terms and conditions
Avoid âwork-aroundsâ
Non-standard terms accessibility
⢠Accurately track contractual obligations and milestones
Custom Headers
Due Dates
Contract Values
⢠Reduce contract cycle time (from development through execution)
Contract Requests
Approvals within system
14 Š 2012 Ariba, Inc. All rights reserved.
15. Benefits/Results, Part II
⢠Standardize âbest practiceâ contracting process across the BSD business units
(globally)
Same Process Flow and Approval process utilized
Traceability and accountability
⢠Improve compliance, driving increased profitability and reduced risk
Approved Templates
Quick accessibility
Determine status of Contracts
⢠Gain visibility into client contract risks and opportunities through a single repository
All Contracts within Division (Global)
⢠Search Capabilities
Search boilerplate terms (e.g. creation date; expiration date; project owner)
⢠Robust reporting capabilities
Keep up to date on Expiring Contracts
Track Requests
15 Š 2012 Ariba, Inc. All rights reserved.
16. Benefits/Results - In Sum
⢠Drives Compliance
⢠Quicker Turnarounds
⢠Faster Contract Finalizations
16 Š 2012 Ariba, Inc. All rights reserved.
17. Statistics â As of November 7, 2011
(By Number)
⢠Contract Requests â 72
Confidentiality and Master Agreements
[Note â Do not need a Request to have an Agreement]
⢠Current Negotiations â 79 (50*)
⢠Current Negotiations (Amendments) â 29 (26*)
⢠Finalized (Effective date Nov 7 â May 7) â 61
⢠Approval time shortened
17 Š 2012 Ariba, Inc. All rights reserved.
18. Lessons Learned, Part I
⢠Data Collection
⢠Mapping the Process (Internally)
⢠Language (Ariba / Fisher Terminology)
⢠Robust System - System Limitations
⢠Microsoft Word Compatibility
⢠Global acceptability (adoption)
18 Š 2012 Ariba, Inc. All rights reserved.
19. Lessons Learned, Part II
⢠Simplicity Is Best
⢠Know Your Process
⢠Know Desired Output
⢠Flexibility
⢠Locate Documents â PDF/OCR
⢠TEST, TEST, TEST
19 Š 2012 Ariba, Inc. All rights reserved.
20. Accelerating
B S Sales Through
Better
Contracting
From reactive to
proactive capability
Tim Cummins
CEO, IACCM
21. Contracting Capability Is a Source
of Competitive Advantage
⢠Contracts are core business assets. The faster we win
them and the better we perform against them, the
greater the value of our business.
22. Competition Speed of
change
Regulation
Shifting
supply
Complexity
base
Technology
Financial
Increased pressures
Globalisation
scrutiny
25. Create a Framework for Success
Indicator Time Cost Defects
Mutual objectives 8 7 4
Gain and pain sharing 2 9 8
Trust 10 6 2
No-blame culture 4 3 6
Joint working 1 10 3
Communication 9 1 5
Problem-solving 6 5 1
Risk allocation 3 2 7
Performance measurement 7 4 9
Continuous improvement 4 8 10
Source: Intâl Journal of Project Management, Issue 30, Vol. 2, 2012
26. Accelerate Decision-Making
ď Risk index exists for each contract type:
Working
Penalties Liability Scope General
Capital
ď Content and weightings based on previous margin impact in
legacy contracts.
CONTRACT TERMS RISK INDEX
Working Capital Penalties Liability Scope General TOTAL
[XX]% [XX]% [XX]% [XX]% [XX]% [XX]%
27. Proactive Commercial Management
Contract Risk Index - Product/Service Areas
⢠In-depth knowledge of risk 70%
within/across categories
60%
50%
40%
Product/Service Area A
⢠Defines future negotiation 30%
Product/Service Area B
strategies
20%
10%
0%
Scope Working Capital Penalties Liability General
⢠Defines post-sales Customer Contract A
mitigation strategies 100%
80%
Initial Customer
Requirement
â˘
60%
Provides a dynamic view 40%
Negotiated
Position
of customerâs changing 20%
requirements 0%
Scope Working Penalties Liability General
Capital
28. Drive Improvements through
Benchmarking Sales and Customer Owned
Support Team Owned
Sales and Customer Owned
*will involve Support Team and/or
Avg Customer Contract Cycle Time* = 30 calendar days Legal if rework is requested
July, 2011 â December, 2011
Generate Initial
AFTER Draft Document Internal Approval
Negotiation and Draft Signature
Understand Customer Rework
Needs/ Develop Deal
41% 13% 36% 4% 6%
Avg Customer Contract Cycle Time* = 41 calendar days
January, 2010 â June, 2011
BEFORE Generate Initial
Draft Document Internal Approval
Understand Customer
Needs/ Develop Deal Signature
Negotiation and Draft Rework
25% 6% 56% 5% 8%
0% 100%
50%
29. What is the average cycle time from the initiation of the bid to contract
signature for each contract type (in weeks) Domestic contracts?
Sell Side Buy Side
Low complexity
0-25% 4 or less 4 or less
25-50% 4 or less 4 or less
50-75% 5 5
75-100% 8 8
Medium Complexity
0-25% 5 5
25-50% 8 7
50-75% 9 11
75-100% 19 16
High Complexity
0-25% 10 8
25-50% 17 15
50-75% 21+ 19
75-100% 21+ 21+
30. What are the major improvement initiatives
that are being observed or considered in
your organization? (Sell side)
Adoption of Contract Management⌠64%
Development of term and contract⌠45%
Skills development, certification 34%
Increassed role in risk management /⌠32%
Role to be expanded 30%
Knowledge management systems 25%
Relationship segmentation, strategy 16%
Revised measurement systems 16%
Growing awareness and use of external⌠15%
Organizational change 14%
0% 10% 20% 30% 40% 50% 60% 70%
31.
32. B S
Accelerating Sales
Through Better
Contracting
Dan Ashton
Ariba
Š 2012 Ariba, Inc. All rights reserved.
34. Companies Integrating CRM and
Contracts Drive Greater Value
Average Percentage Improvement â Companies Assessing Capabilities as
âGoodâ to âExcellentâ moving to an Integrated Contract Management Solution
Source: IACCM, Selling Power, âState of Sales Contractingâ, 2011
34 Š 2012 Ariba, Inc. All rights reserved.
35. What if you could?
⢠Make contracting easier
⢠Allow reps to request
contracts from CRM
opportunities?
⢠Collaborate better?
⢠Be mobile?
35 Š 2012 Ariba, Inc. All rights reserved.
38. Dashboard
38 Š 2012 Ariba, Inc. All rights reserved.
39. Reporting
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41. Speed and Collaboration Benefits
Improve Sales Contracting Function
Challenges Solutions Results
⢠Required to generate large ⢠Selection criteria included ⢠Drastically reduced time spent Company
volume of contracts on a ability to integrate well with on reportingâable to generate LiveVox
weekly basis Salesforce.com, company reports in minutes that
⢠Challenge of keeping up with reputation, and pricing previously required 30-45 Profile
contract demands on a timely ⢠Implemented Ariba Contracts minutes The leading provider of cloud
contact center solutions,
basis, due to number of sales on Force.com ⢠Reports are significantly more
reps accurate and reliable than prior Ariba Solutions
manual process; Ariba Contracts on Force.com
⢠Limited reporting capabilities;
managed manually ⢠Established easily populated
⢠Challenge of tracking and templates in the
organizing pre-contract Contract Workspace
conversations ⢠All-in-one Contract Workspace
and executive approvals provides repository for all
relevant
documents, approvals, contract
attributes; ensures peace of
mind
âWe were immediately impressed with Ariba and continue to ⢠Enhanced collaboration across
be today. Ariba Contracts on Force.com is built natively on the Legal team
Salesforce.com which was critical for LiveVox. The Ariba âWith Ariba Contracts on Force.com, I can go into the
team has been very responsive to what we are looking for reporting function and in a matter of minutes generate the
and works on formulating a solution that fits our needs.â same amount of information that would have taken 30 to 45
Mark Mallah, Corporate Counsel, LiveVox minutesâat a minimumâbefore.â
Mark Mallah, Corporate Counsel, LiveVox
41 Š 2012 Ariba, Inc. All rights reserved.
Hinweis der Redaktion
There is significant data that shows how automating contract management processes and data can benefit a company. Point solutions arenât good enough however. This table illustrates the step change increase in capabilities for various contracting functional requirements in moving from a contract management automation solution to one that is integrated with a CRM system. The significant increase in Process Management isnât all that surprisingâŚintegrating two formerly disconnected processes will have a positive process impact. But look at the significant increase in opportunity management, security, and fulfillment. Have you ever had a contract automatically renew that you wanted an opportunity to re-sell? A business case for a solution could be built on better renewal management alone.