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Selection guide

How to Pick the Right Contract Management Software - Introducing an Enhanced Selection Process

Introduction

Enterprise software implementations have a high failure rate, it many be quoted as anywhere between 25% and 80%, but the difference is not in the facts, just their interpretation.

If you only include cases where the software fails to go live and is entirely abandoned, the failure rate may be less than 25%, but if you include major cost overruns, production delays, failure to meet expectations and high post-production costs, the failure rate may be even higher than 80%.

Choosing the wrong vendor and product is both the most common reason for such failures, and also the easiest to avoid. However, no vendor is best for everyone. In this white paper, we recommend a detailed process for picking the right contract management software solution to ensure a successful implementation. We contrast the standard approach taken by most companies with our recommended approach for each step of the evaluation process.

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