It is a commonly accepted premise around mergers and acquisitions that about two-thirds of deals fail to deliver expected synergies or shareholder value projected during the deal phase. Even when these expected synergies are achieved, it generally takes much longer than projected. CFO.com recently published a piece on accelerating integration and identifying problems with deals earlier because of the “accelerated” approach taken by several companies and advisors in the M&A space today. Continue reading
Document-Centric or Data Driven Part II Webinar
Please join us December 17th from 12pm-1pm EST for a follow up to Pramata’s recently hosted webinar (in association with IACCM) “Document-Centric or Data Driven” that highlighted the success of FICO in transforming contract management from a tactical group to a strategic asset. The webinar received positive response and several of the 100+ attendees expressed interest in learning more about Pramata Contracts Intelligence. Continue reading
Webinar Follow Up
A couple of quick thoughts in follow up to the Webinar earlier this week hosted by Tim Cummins of the IACCM and Tom Carretta the VP of Legal at FICO around how to leverage the data contained in contracts to strategically impact the business. Tim Cummins had a great follow up post to this event. Continue reading
Document-Centric or Data Driven Presentation
Earlier today, I hosted a webinar in association with IACCM (“Document-Centric or Data Driven: An Executive’s Experience Transforming Contract Management into a Strategic Asset”). The presentation by Tom Carretta, FICO VP-Legal and longtime Pramata customer, detailed the journey of the FICO Contracts Department from a group focused on document location and creation to one that provides strategic value to the company in the form of critical contractual data and analyses. I may be biased, but based on the volume of positive feedback I would say the webinar was a huge success!
During the session, numerous people asked that we post a copy of the presentation which we have posted below. Continue reading
Nov. 10th Webinar: Document-Centric or Data Driven?
Does your company view contracts as documents or data?
Join FICO VP-Legal Tom Carretta, a pioneer in Contracts Intelligence, as he discusses the transformation of FICO’s Contracts Department from a group focused on contract storage and retrieval to one that actively analyzes over 10 million pieces of contractual data to drive strategic value throughout the company. Mr. Carretta will walk through the challenges FICO faced getting data from contracts, the companywide benefits of analyzing contracts data, and key questions to consider when making the leap to a data driven contract management approach.
This webinar is scheduled for Wednesday Nov. 10th from 11am-noon Eastern. The event is co-sponsored with IACCM and will be moderated by Tim Cummins and Christian Misvaer, Co-Founderof Pramata Corporation.
The Foreclosure Crisis: Contracts (Un)Intelligence Grabs National Headlines
By now, most of you have probably heard about the ongoing debacle related to fraudulent or incomplete paperwork in foreclosure proceedings. As someone who has spent much of the past few years working with large companies to gain visibility and control over critical contractual information, the fact that large banks do not have full visibility into their contracts related to mortgages and foreclosures is not surprising, particularly given the number of actors involved in the industry during the height of the real estate bubble (it was a very multi-layered cake…). Continue reading
East-West Connection: Working Across Oceans
Lessons learned while working for Pramata with technology and operations in India. Due to the distance and difference in cultures it is important to build trust yet verify, communicate while being transparent and innovative by giving people freedom of thought. This post was inspired by a TED talk by Devdutt Pattanaik, (video below) in which he talks about how the objective, rational and scientific western thought process has influenced their innovation and business culture. At the same time he discusses how the cultural and artistic aspects together with the subjective philosophy and mythology of eastern cultures, particularly India has affected the way its people live, work and do business. Continue reading
MFN (Most Favored Nation) Risk
Oracle is being sued by the U.S. Department of Justice (DOJ) over what appears to be a most favored nation (MFN) issue. I have no personal friends at Oracle, but for the sake of this post I will assume their actions did not rise to the level of fraud. However, I do suspect that there is substance to the DOJ allegations in that Oracle agreed to a MFN clause with the federal government and ultimately Oracle’s other customers were receiving better rates than promised the government. I also surmise that the less favorable rates for the government were to some degree unintentional, which of course is a common contracts concern at many software and pharmaceutical companies – how do we effectively manage MFN or Best Price with so many custom and complexly priced deals for our other customers? Continue reading
Pramata Webinar: Controlling Price Protection Clauses for Improved Compliance
As evidenced by several recent examples, identifying and managing price protection clauses is becoming more and more important as regulatory scrutiny increases. Join Pramata President of Customer Operations Christian Misvaer and General Counsel Dave Munn on Oct. 12th, 2010 from 3-4pm Eastern to learn best practices in controlling critical price protection clauses. By improving your understanding of price protection clauses, you can:
• Streamline your company’s government and contractual compliance efforts;
• Eliminate uncertainty around the current state of your pricing;
• Track real-time impact of amendments and new agreements; and
• Mine intelligence on current agreements to improve future processes.
To attend the webinar, please register here.
Medicaid Drug Rebate Program Summit (Sept. 15th-17th)
Pramata will be attending IIR’s annual Medicaid Drug Rebate Program in Chicago next week. This is our first official event in the Pharma space, and we invite anyone who will be attending to stop by and learn more about how Contracts Intelligence can help support compliance processes and risk management surrounding government regulations.
We have been doing some really interesting things with our Pharmaceutical customers around Medicaid Best Price Compliance. Continue reading