When a company decides it has a need for a Contract Management software, the first step is generally to send out an RFI/RFP. A number of weeks and many pages of responses later, the field is generally narrowed to a couple of contenders. Then comes the demos… The team watches each vendor demonstrate their technology, usually with fairly little difference between them. Reporting, templates, clause libraries, redlining, and electronic signatures are usually the top things that everyone wants to see.
At the end of the day, since most of the top tools can all accomplish the same things, two factors typically make the decision. 1) The one that the team deems most “user friendly” and 2) price.
Once implementation is underway, the team starts to realize that they simply aren’t ready with templates and a clause library. Creating those from scratch takes a considerable amount of effort, particularly from an already overburdened legal team. They also realize that redlining might not work quite as easily as it was shown in the demo. These two items are then pushed off to a Phase II (which often never occurs) and the system is basically used as a repository.
The software vendors typically do not have different “levels” of their software at different price points. If you want a “repository only” solution, you would need choose a lower cost, less sophisticated software, effectively eliminating a progression path towards those features such as templates, clause libraries, and redlining that can be beneficial as your organization matures.
With Premikati recently becoming a BPO Partner of SAP Ariba, we have opened up a new set of options.
Premikati can now purchase and operate the SAP Ariba Contract Management Professional software on your behalf. We have two paths, one for Enterprise customers, and another for companies below $500MM in annual revenue.
First, for the Enterprise. Premikati can purchase an individual realm to operate on your behalf. Frankly, our status as a BPO Partner enables us to buy it at a significantly lower price point that you can. Our team will own and operate the system on your behalf, performing Contract Administration Services and, of course, all of the system administrative functions as well. This allows your team to focus its energy on more strategic opportunities, not the tactical day to day activities of keeping track of contracts. When you consider the total cost of ownership, you will be hard pressed to find a service/solution that provides more value for the price.
For companies below $500MM in revenue, we have a whole new way of thinking.
Since we realize that initially you most likely only need a “repository” with reporting and the ability to do electronic signatures, that is all you are going to pay for.
Depending on a variety of factors, our pricing starts as low as $30K for an annual subscription that includes Contract Administration Services and all system administration.
Implementation is similarly value priced starting at $25K with a Go-Live in as little as two weeks.
This is still for the full version of the Ariba Contract Management Professional system although integration with other systems is not available in this situation. However, during your maturation as an organization, both in revenue and sophistication, we can always move you over to an Enterprise realm with ease and no downtime.
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