ServiceNow Knowledge 2023: Best practices from the real world: Unlocking contract potential

Transcript Synopsis

We are an elite ISV partner that builds solutions on the ServiceNow platform. Our products include contract management, RFP management, onboarding workflow management, and post-contract signature obligation management. Additionally, we offer a solution for AP automation. Our products seamlessly communicate with each other and integrate with ServiceNow's applications and solutions, such as PSM and LSD.

We learn from our diverse customer base, conducting best practices sessions to gather insights from industries and geographies. What we've got a list of all soundbites over here around, challenges faced by our customers and prospects around contract management. Issues have been identified, such as a lack of centralized access and challenges in managing the agreement request intake process. Additionally, concerns have been raised about data integrity, as the contract, being the heart of the organization, must seamlessly connect with other dependent solutions. In essence, these challenges lead to contracting inefficiencies, both inherent in the contracting process itself and those arising from a lack of connectivity. They result in business and regulatory compliance risks. When data fails to flow seamlessly into dependent systems, these systems cannot effectively serve your customers, vendors, and comply with regulatory requirements. Furthermore, a significant cost is associated with maintaining legacy systems, as reported.

Here are the best practices distilled from our real customers and their experiences:

• Emphasize Goal Alignment
• Prioritize User Adoption
• Concentrate on the Current Platform
• Consider the Platform for Future Needs

Download the session for detailed discussions on all these topics.