Originally published in GovCon Wire on June 13, 2023 by Mick Fox, Chief Operating Officer, TechnoMile
Because life and protection of property are evident in air safety, we don’t mind paying the millions of dollars it requires every day for the people and technology involved in air traffic control. Therefore, if you’re someone trying to explain the value of the air traffic control system, it’s easy. But what if you’re a contracts leader trying to explain the value of contract lifecycle management (CLM) technology to your chief financial officer?
Recent conversations with my company’s clients have reinforced to me that the benefits of CLM technology (financial, brand protection and ability to compliantly operate) extend beyond the contracts team, into the finance organization and on to the balance sheet. In this two-part article, I want to share several key value drivers you should consider presenting to your CFO to make the business case for CLM investment.
In part one, we’ll focus on the first value driver: CLM’s ability to accelerate cash flow.