SharePoint as a Platform for Contract Management · Microsoft SharePoint continues to experience unprecedented worldwide success as the world’s leading Enterprise Content Management

SharePoint As a Platform for

Contract Management

Corridor Company, Inc. | www.corridorcompany.com | 888.377.9933

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Microsoft SharePoint continues to experience unprecedented worldwide success as the world’s

leading Enterprise Content Management (ECM) system. In 2011, Microsoft reported that 78

percent of the Fortune 500 companies were using SharePoint, and 20,000 SharePoint users were

being added daily. With global popularity, a rich set of out-of-the-box features, and a vast

community of technologists and architects well versed in its use, it is the premier development

application for mission-critical business applications.

Recognizing these benefits as well as the economies of scale available to both Corridor and its

client base, Corridor selected SharePoint as the platform for its Business Applications including

our flagship Contract Lifecycle Management (CLM) application.

With support for all aspects of the contract lifecycle, Corridor’s Contract Management App for

SharePoint or CM[.app]TM provides users with an enterprise-class application which can be

readily deployed. Using SharePoint as the foundation for a contract management solution affords

its users the following benefits:

Unmatched Global Scalability for worldwide deployments

Powerful Core Contract Management Capabilities including metadata and security

Various Delivery Options such as on premises, hosted, or in the cloud with Office 365

Global Talent Pool made up of tens of thousands of SharePoint-compatible service providers

Ability to Leverage an Existing Investment for those companies already using SharePoint

The selection of a contract management application requires careful consideration. Direct costs

are sizable and include license and equipment expenses, implementation fees, and the time

required by your internal team. More impactful are the opportunity costs associated with not

implementing a contract management system. Inefficient and ineffective contract processes result

in increased expenses, lost revenue and the introduction of contractual risks.

As you consider your contract management options, be aware of the benefits afforded by

CM[.app], an application powered by the SharePoint platform.

A WORD ABOUT SHAREPOINT’S PROLIFERATION

Microsoft’s on premises version of SharePoint as well as its Office 365 cloud-based version are

formally recognized by Microsoft as the two fastest growing

products in the company’s history. Initially released in 2001,

SharePoint has evolved into the most popular Enterprise

Content Management (ECM) system in the world. Office 365

takes SharePoint to an entirely new level by offering a rich

set of capabilities fully supported by Microsoft in the cloud.

SharePoint has evolved into the

most popular Enterprise Con-

tent Management (ECM) system

in the world.


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The unprecedented growth of SharePoint and Office 365 can be attributed to many factors.

Beginning in 2001 and continuing to today, the free entry-level version of SharePoint which ships

with Windows supports a grassroots movement around the product. More important is the

simplicity and functionality of the product. SharePoint is user friendly and approachable, allowing

users to be productive without a reliance on IT. And, the rich functionality provides users with

immediate and actionable results.

Committed to continuous innovation, Microsoft frequently introduces updates to its Office 365

product and will be releasing SharePoint 2016 later this year.

UNMATCHED GLOBAL SCALABILITY

SharePoint, as a development platform, possesses unmatched repository functionality, control

definitions, language support, security, search, integration and analytics. This platform is an ideal

foundation for a contract management system providing a scalable infrastructure that far eclipses

that of a stand-alone application.

At Its Heart, a Repository

First and foremost, SharePoint is a repository for content including contracts, supporting

documents and related contract data. It is designed from the ground up for extensive metadata

support, rich version control, security and sophisticated document relationships for parent-child

documents and data.

By definition, any ECM system must employ some type of metadata. With SharePoint, an entirely

new level of hierarchical sophistication has been introduced. Metadata can be defined in both a

centralized and distributed fashion which allows for a highly efficient management process when

defining and updating metadata. Centralized changes can be easily “pushed” down to lower levels.

Administrators can readily refine metadata at appropriate levels and “ripple” these changes down

to the remaining levels. For example, common metadata data fields such as contract numbers and

effective dates can be defined at a higher level and pushed down to lower levels automatically,

while the supplier, partner, client and other metadata can be defined at a lower level. Retention

schedules can be defined in a similar fashion. This allows for improved efficiencies and easier

management of your data.

Centralized Control with Regional Autonomy

Stand-alone applications typically rely on a highly centralized database, one where all controls

and definitions are defined centrally. In an enterprise deployment, this may seem like a reasonable

approach at first. However, this rigidly centralized approach does not allow for an appropriate

level of autonomy which a global organization requires. The need for centralized control must be

balanced with the needs of different regions who have different functional, business and legal

requirements.


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SharePoint’s architecture is optimally suited for this challenge. Its unique set of capabilities allow

for a centralized set of controls and practices to be established including standardized metadata,

library structures, and a rich set of common services for searching, retention, workflow, security

and more. SharePoint also allows for specific regions to have measured levels of autonomy with

support for localization and language-specific requirements, region-specific data structures, and

the ability to store content in a distributed fashion to accommodate unique jurisdictional

requirements.

The ability to blend the benefit of centralization with the autonomy required by certain regions,

divisions, or business functions is a powerful enabler for contract managers who must work

together and apart, around the world and in different time zones. Other contract management

applications including those powered by the Salesforce platform cannot match SharePoint’s

sophisticated approach to central vs. distributed control.

Localization and Language Support

SharePoint has been designed to meet the demands of international organizations. With over 50

languages supported, SharePoint is the undisputed leader in language and localization support.

This is important for organizations that need their contract management system deployed around

the world in different languages to support local communities.

Extensive Security Model

SharePoint has one of the most advanced security models in the industry and includes multifactor

authentication support, group and role definitions, granular security definitions and document-

specific security. This allows documents and data to be secured the right way in the right location

with audit trails of the key activities which take place within the system. The combination of

configurable security and auditability makes SharePoint an unmatched environment for contract

management.

Powerful Search

Earlier versions of SharePoint included imbedded search functionality. However, with the

acquisition of FAST Search and its subsequent introduction into SharePoint, this functionality has

been taken to new heights. One of the most sophisticated search engines available, it allows for

high performance searching across vast amounts of content including both data and documents,

multilingual support and powerful search aids and refiners.

Integration with Line of Business (LoB) and Enterprise Resource Planning (ERP) Systems

SharePoint is arguably the most highly integrated platform in the world. Because of its popularity,

virtually every major software vendor, including SAP, Oracle, and Salesforce, has worked with

Microsoft to deliver varying forms of integration with SharePoint. Significant efficiencies are

introduced with these integrations as information does not have to be entered multiple times,

contract data can be posted directly into a LoB system, and contracts can be accessed directly

from within the LoB system.


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Microsoft’s native Business Connectivity Services (BCS) allow external data to be connected into

SharePoint with bi-directional data updates. Additionally, SharePoint provides a rich and vast

collection of interoperable web services that support integration with other systems. These

capabilities, coupled with a large number of third party integration products, allow SharePoint to

be integrated into most systems – a substantial benefit when contract management needs to work

efficiently with procurement, accounting and sales.

Analytics

A primary focal point for Microsoft is the continuous evolution of its Business Intelligence (BI) and

analytics tools. In this capacity, Microsoft has been recognized by Forrester and others as a leader

in “Agile Business Intelligence” or the BI space. Its collection of “Power BI” tools – including

Performance Point, PowerPivot Excel and SQL Server Reporting Services – allows contract

professionals to analyze their content in many different ways.

POWERFUL CORE CONTRACT MANAGEMENT CAPABILITIES

The former CEO of Microsoft, Steve Ballmer, dubbed SharePoint the “Information Operating

System.” Similar to a computer’s operating system, SharePoint is a central system for directing

efforts around information including documents, data and reports, scheduling tasks and

processing workflow approvals, handling incoming user input and communicating user output,

and using the communication options associated with computing including email.

Like the computer’s operating system, SharePoint provides a collection of core contract

management capabilities including a rich repository, powerful security, complex metadata

structures, document version control and various forms of collaboration. Properly assembled,

these are the foundations of a contract management system.

By leveraging these core capabilities, Corridor is able

to deliver its contract management solution

CM[.app] more effectively. With basic infrastructure

functionality provided by SharePoint, Corridor’s

focus is on more sophisticated contract management

requirements including contract creation,

negotiation and collaboration, and reporting. And, as

Microsoft continuously invests in SharePoint,

Corridor’s CM[.app] is able to benefit from the

continuous innovation. Given that Microsoft’s R&D budget for SharePoint eclipses the collective

revenue of all other contract management vendors, this is an important consideration.

Leveraging SharePoint’s core capa-

bilities including its rich repository,

powerful security, complex metadata

structures, document version control,

and collaboration allows Corridor to

deliver its CM[.app] solution for

contract management more effectively.


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VARIOUS DELIVERY OPTIONS

When implementing a contract management application, the delivery options associated with the

application must be considered. Arguments can be made for the installation of a solution on

premises or hosted in the cloud. Before concluding what is best for your organization, equipment

costs, support considerations and data privacy should all be investigated.

SharePoint is the only enterprise platform to support on premises, cloud, and hybrid installations.

It can be installed locally within your network or it can

be hosted in the cloud through third party hosting

providers or through Office 365. Hybrid installations,

typical for organizations who are interested in the

benefits of the cloud, but who have data privacy

concerns, can also be supported. In this instance,

SharePoint is run locally as well as in the cloud.

The flexibility of the delivery options associated with SharePoint allow Corridor and its CM[.app]

application to support the diverse needs of Corridor’s client base.

GLOBAL TALENT POOL

Because of its popularity, SharePoint’s global talent pool is extensive. From technologists and

architects to trainers, designers and users, familiarity with SharePoint and the ability to support

the application is widespread. This is an important consideration when contemplating the

installation of a contract management application. A ready talent pool allows an application to be

planned for, staffed, implemented and supported. The risk profile associated with the

implementation is reduced as well as the costs associated with ramping and training those who

will use and support the system.

Organizations who do not have SharePoint internally

or who do not have the resources to staff a SharePoint

implementation can still take advantage of the many

benefits of CM[.app]. Corridor’s hosted version as well

as its Office 365 application provide an equally robust

contract management application without the IT

support required of an on premises application.

And, for those companies interested in augmenting

their SharePoint knowledge, there are thousands of training programs, online resources and

books written on all aspects of the technology.

SharePoint is the only enterprise

platform to support on premises,

cloud and hybrid installations –

allowing Corridor and CM[.app] to

readily support the diverse needs

of Corridor’s client base.

An important consideration when

installing a contract management

application is the ability to imple-

ment and support the application.

SharePoint’s global talent pool –

from technologists to trainers to

users – is extensive.


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ABILITY TO LEVERAGE AN EXISTING INVESTMENT

For those organizations that already have SharePoint internally, a multitude of different

economies can be realized. First, the ability to leverage an existing SharePoint installation provides

the users of CM[.app] with a fully robust contract

management application at a reduced cost. Where the

application is already installed, equipment costs are

minimal. Training on the system as well as support of the

system can be provided more economically as users are

already familiar with the SharePoint fundamentals. IT

personnel do not need to learn how to support another

system or silo of information. And, because users are

already familiar with the system fundamentals, user

adoption will likely be greater.

SHAREPOINT – FLEXIBILITY AND LESSONS LEARNED

SharePoint is many things to many people. As a product, especially in the latest release of

SharePoint 2013, it is as deep as it is broad. As a platform, it is the most highly integrated system

in the world. The combination of breadth, depth and viability is incredibly powerful.

With this power are inherent risks. SharePoint’s flexibility allows for ready deployment for a

multitude of different purposes. Its presence within most companies can further complicate the

situation as ineffective practices can quickly result in unsuccessful implementations and overall

confusion.

To ensure the success of SharePoint as well as your contract management application, specific

attention should be paid to the following:

Choose the Right Partner

As important as the technology platform is, so, too, is your implementation partner. Be sure to

choose a company with proven technology, and a solid, referenceable client base. A commitment

to innovation, as measured through consistent product releases, is important as well as flexibility

in delivery options. Corridor’s CM[.app] is currently on its sixth release and is available locally or

in the cloud for SharePoint 2010, SharePoint 2013 and Office 365.

Ensure Proper Deployment of the Application

Key to a successful deployment of a contract management application is the use of a consistent

implementation methodology. Corridor’s award-winning Passage1 Implementation Methodology

provides immediate value through our use of business releases. Our clients are able to readily

Seventy eight percent of Fortune

500 companies are already using

SharePoint and 20,000 users are

being added daily. Leveraging

this as an existing investment

allows a variety of economies to

be realized.


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leverage the technology to provide immediate business value ensuring not only a technical, but

business success.

Plan a Solid Change Management Strategy

Socializing and publicizing the benefits of the new system is an important aspect to a successful

implementation. Administrative and end user training are critical as well as ongoing support to

the user community. Corridor suggests regularly scheduled “office hours” during the few weeks

of the deployment, and a carefully reviewed feedback loop from both casual and power users

whose ideas can be addressed in future business releases.

Establish the Necessary Executive Support

Throughout the implementation lifecycle, feedback and support from the Executive Team should

be regularly solicited. By actively involving the Executive Team in the dialogue, expectations can

be properly set and managed, and alignment can be readily achieved. The process of creating,

managing, and renewing contracts is one which is vital to all organizations. By providing the

Executive Team with an efficient tool to address these challenges, as well as the supporting

information necessary to make informed decisions, expenses can be reduced, revenue maximized,

and risk mitigated.

CONTRACT MANAGEMENT APP FOR SHAREPOINT

A COTS application which leverages the Microsoft SharePoint platform, Corridor’s CM[.app] is a

robust contract management lifecycle application. From creation to obligation, CM[.app] supports

organizations in their contract creation, management and reporting challenges.

On its sixth version, CM[.app] incorporates Corridor’s twenty years of experience in the enterprise

content and contract management space with the industry knowledge and best practices learned

in working with such global leaders as Logitech, First

Data, British Telecom and Intel. With an award-winning

Passage1 Implementation methodology, Corridor’s

solutions are launched successfully within two to eight

weeks of contract signature.

Because it utilizes the enterprise class infrastructure of

SharePoint, CM[.app] readily delivers global scalability,

security and language support. Most organizations already have SharePoint internally which

reduces the IT, training and support costs associated with a new application. And, SharePoint’s

flexible nature, coupled with CM[.app]’s unique capabilities, allow Corridor to support distinct

organizational requirements without the need for customizations.

SharePoint’s flexible nature, coupled

with CM[.app]’s unique capabilities,

allow Corridor to support distinct

organizational requirements without

the need for customizations.


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Additional high-level benefits include the following:

Contract & Document Generation | CM[.app]’s powerful document assembly engine can be

used for the creation of contracts as well as supporting documentation.

Contract Dashboards | Powerful, at-a-glance contract summary information at the Master

Agreement level is linked to related content such as supporting documents and data.

Full Template Support | Sophisticated management and support of a variety of contract

templates ensures that approved contract types and language are consistently used.

MS Word Add Ins for Insertion & Extraction | Contract modifications can be managed

expertly in two ways: pre-execution support for easy and secure insertion of clauses from a

clause library, and post-execution support for the extraction and management of modified

clauses.

External Collaboration with Counterparties | Using CM[.app]’s External Email Collaboration

(EEC), sending and receiving contracts to and from counterparties is effortless as new versions

of the agreement are automatically checked in and out of the repository and redlined for ease

of review.

Advanced Workflow & Approval Support | Designed for the non-technical Contract

Administrator, CM[.app] allows standard workflows to be configured and updated with ease.

Powerful eSignature Integration | Readily sign contracts electronically and automatically

store fully executed agreements in CM[.app]’s contract repository with our out-of-the-box

DocuSign integration.

Automated Reporting & Escalations | Automate the creation and delivery of reports and

escalations with CM[.app]’s powerful reporting and notification engine. Readily configurable,

a report can be created for any metadata captured within the system including expiration

dates, location, product line or any other custom field types.

Advanced Security Support | As contracts continue through the lifecycle, they can be

automatically secured. CM[.app]’s security model can be pushed down to child documents

and data, as required.

Graphing & Charting Capabilities | Expertly analyze contract data contained within the

system with at-a-glance graphing and charting. View the status of your contracts, any process

bottlenecks which exist and any actions which require your attention.

CRM Integration | Powerful bidirectional integration with a variety of different CRM systems

removes the need to rekey data while allowing users to readily access information from within

the system where they “live.”


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Corridor Company

Corridor Company is committed to continually evolving our software product line to meet the

challenges of contracts and their proper management. With a business application platform that

readily provides solutions for Contract, Proposal and Supplier Management, Corridor's end-to-

end solutions enable customers to create contracts and proposals more efficiently, manage all

processes more effectively, and ensure that revenue, profit and compliance are all fully optimized.

With a variety of different licensing, supporting implementation packages, and delivery options

which include on premises, in the cloud, or Office 365, we ensure a solution tailored to fit the

needs of your company. To learn why global to mid-sized clients choose Corridor for their Con-

tract Management, Proposal Management and Supplier Management partner, visit us at

Corridor Company, Inc.

Web: www.corridorcompany.com

Email: [email protected]

Phone: 781-229-9933 ext. 15

Toll Free: 888-377-9933 ext. 15

http://www.corridorcompany.com/

mailto:[email protected]

Documents

SharePoint as a Platform for Contract Management · Microsoft SharePoint continues to experience unprecedented worldwide success as the world’s leading Enterprise Content Management