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Effective Contract Lifecycle Management Can Enhance Compliance and Reduce Costs, Says Info-Tech Research Group in New Resource

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Info-Tech Research Group has published a new blueprint that breaks down how to improve an organization’s contract lifecycle management (CLM) processes to efficiently and economically streamline operations. The firm’s resource offers a roadmap for centralizing contract documents, establishing robust procedures, and selecting the right CLM tool.

TORONTO, June 14, 2024 /PRNewswire/ – As organizations grapple with the complexities of managing scattered contract documents and inefficient manual processes, they face significant compliance risks and missed opportunities. Advanced contract lifecycle management (CLM) tools can effectively mitigate these issues, but many organizations lack the maturity to fully leverage their benefits. Info-Tech Research Group’s newly released blueprint, Design and Build an Effective Contract Lifecycle Management Process, provides a comprehensive roadmap for centralizing contract documents, establishing robust CLM procedures, and identifying essential tool requirements. This research empowers IT leaders and organizations to enhance operational efficiency, ensure regulatory adherence, and build a streamlined approach tailored to organizational goals and culture.

“Vendors in the CLM space are constantly modifying their features and functionality, and the industry’s players are rapidly changing due to vendors entering, merging, and leaving,” says Phil Bode, principal advisory director at Info-Tech Research Group. “Artificial intelligence is the latest innovation being leveraged by CLM providers, making the systems more sophisticated and easier to use. However, even with artificial intelligence, these systems won’t run entirely by themselves, yet, and CLM still requires human participation, especially for validation.”

Info-Tech’s research shows that organizations are increasingly relying on vendors for non-core functions and services, underscoring the growing importance of effective contracting and CLM processes. However, the lack of maturity in many organizations prevents them from fully benefiting from advanced CLM processes and tools. When contracting CLM processes, these organizations can encounter various challenges, such as disparate systems, a lack of internal coordination, and inefficient processes.

“For the CLM system to be effective, a lot of work must occur before implementation,” explains Donna Glidden, principal advisory director at Info-Tech Research Group. “Additionally, it’s crucial for IT leaders to recognize the limitations of these tools, as they can’t single-handedly resolve all issues. Even the top CLM systems on the market won’t completely fix process and non-compliance issues. Therefore, organizations should view CLMs as an assistant tool rather than a remedy for all problems.”

The firm emphasizes that CLM requires a flexible approach tailored to the organization’s goals, culture, maturity level, scope, and other relevant factors. Organizations need a holistic framework to navigate the various stages of CLM, allowing them to progress at their own pace and according to their needs.

Info-Tech’s blueprint outlines three key factors that organizations should consider when building their CLM process:

Location: Many organizations struggle with contract management due to the absence of a central location for contract storage. The initial step to enhance CLM is to establish a central location where all contract documents are stored and easily accessible.Process: The CLM process is a crucial aspect of a holistic contract management approach. Organizations should document their current process, identify any gaps, and work toward improving deficient areas. This factor involves gathering requirements, performing gap analysis, and ensuring alignment with organizational needs before selecting a CLM tool.System: After establishing the process, it is essential to identify and select the most suitable CLM tool that meets the organization’s specific requirements. Evaluate how well current processes can be automated and streamlined and choose a tool that centralizes agreements and enhances efficiency. Gather input from stakeholders, identify suitable vendors, and implement the chosen system with appropriate training.

The blueprint addresses the technical aspects of implementing a CLM system and emphasizes the strategic importance of human oversight in contract management. By leveraging Info-Tech’s framework, organizations can transform their CLM processes to be more efficient and compliant. This transformation leads to better risk management, streamlined operations, and stronger alignment with business goals. By adopting this approach, IT leaders will be able to navigate contract management with agility and precision.

For exclusive and timely commentary from Phil Bode or Donna Glidden, experts in vendor management, and access to the complete Design and Build an Effective Contract Lifecycle Management Process blueprint, please contact pr@infotech.com.

Info-Tech LIVE 2024

Registration is now open for Info-Tech Research Group’s annual IT conference, Info-Tech LIVE 2024, taking place September 17 to 19, 2024, at the iconic Bellagio in Las Vegas. This premier event offers journalists, podcasters, and media influencers access to exclusive content, the latest IT research and trends, and the opportunity to interview industry experts, analysts, and speakers. To apply for media passes to attend the event or gain access to research and expert insights on trending topics, please contact pr@infotech.com.

About Info-Tech Research Group

Info-Tech Research Group is one of the world’s leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

To learn more about Info-Tech’s divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com.

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.

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SOURCE Info-Tech Research Group

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Solar-Powered Tourism: How Bohol, Philippines’ Renewable Energy Fuels Ecotourism Growth

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MANILA, Philippines, Jan. 23, 2025 /PRNewswire/ — Tourism contributed 8.6% to the Philippines’ GDP in 2023, demonstrating its significance to the national economy. According to the 2023 Sustainable Travel Report, 76% of travelers prioritize eco-friendly options, prompting destinations to adopt greener initiatives. To support this growing trend and encourage sustainable development in the country, the Department of Tourism promotes the ANAHAW Philippine Sustainable Tourism Certification, recognizing eco-friendly accommodations that adopt energy-efficient and carbon-reducing practices.

Building on these efforts, solar power presents a scalable solution for reducing costs, increasing energy stability, and aligning with global sustainability goals, making it a key investment for eco-conscious tourism.

Harnessing Solar Energy to Power Bohol’s Top Destinations

Bohol, the Philippines’ first UNESCO Global Geopark, is harnessing renewable energy to support its booming tourism industry. With a remarkable 313% surge in visitors in 2023, the island taps on clean energy solutions to meet growing infrastructure demands. Central to these efforts is the Dagohoy Solar Power Project (DSPP), the island’s first large-scale solar farm.

DSPP, a collaborative effort between Dagohoy Green Energy Corporation (DGEC), a member of the Yuchengco Group of Companies (YGC), the Department of Energy (DOE), and Bohol local government units, uses 40,000 Trinasolar Vertex modules with a capacity of 27MWp to generate 41,000 MWh of electricity annually. This clean energy powers approximately 18,000 homes and major tourism sites, including the Chocolate Hills—a unique natural wonder of cone-shaped hills, and the Tarsier Sanctuary, home to one of the world’s smallest primates.

“The Dagohoy Solar Power Project is a key milestone in the transition to a net-zero future. Through our advanced solar technology solutions, we are supporting the transformation of energy systems and empowering communities. This project illustrates the vital role of renewable energy in meeting the growing demand for clean power,” said Elva Wang, Group Director of Southeast, South and Central Asia, Trinasolar Asia Pacific, a global leader in smart photovoltaic (PV) and energy storage solutions.

Trinasolar at the Heart of Sustainable Tourism

Trinasolar‘s high-performance bifacial Vertex modules are weather-resistant built to thrive in harsh environments, ensuring reliable performance for years to come. These modules showcase impressive energy yield and low degradation rate, which help reduce operational costs and maintain long-term efficiency.

This innovation guarantees consistent power generation even in remote or weather-prone areas, making them perfect fit for eco-tourism destinations like Bohol.

Sustainability That Strengthens Bohol’s Economy

The Dagohoy Solar Power Project plays a critical role in Bohol’s sustainability strategy by reducing carbon dioxide emissions by 28,642 metric tons annually. It has created over 600 local jobs, boosting economic and business activities in the area.

“Bohol’s success highlights the potential for solar power to revolutionize tourism across the Philippines and Southeast Asia, providing a model for other regions looking to balance growth with environmental responsibility,” added Elva. As demand for sustainable travel continues to rise, renewable energy solutions like solar power are becoming essential to maintaining a thriving, resilient tourism sector.

“The Dagohoy Solar Power Project is a great step for Bohol’s sustainable future. In partnership with Trinasolar, PetroGreen Energy Corporation (PGEC) is proud to help power an iconic tourism destination in the country and its stunning landscapes and rich biodiversity. This project also strengthens Bohol’s clean energy adoption and resilience,” said Maria Victoria M. Olivar, PGEC’s Vice President for Business Development and Commercial Operations.

Bohol’s integration of solar energy into its tourism infrastructure shows how clean power can support economic growth, reduce environmental impact, and enhance visitor experiences. By embracing renewable solutions, the island sets a standard for responsible tourism that preserves natural wonders while building a more sustainable future.

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SOURCE Trina Solar Energy Development Pte. Ltd.

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Scripps News, WTVF in Nashville receive 2025 duPont-Columbia Awards

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CINCINNATI, Jan. 22, 2025 /PRNewswire/ — For their series of investigative reports, news teams at The E.W. Scripps Company (NASDAQ: SSP) have won two 2025 Alfred I. duPont-Columbia Awards. The prestigious journalism awards recognize America’s best video and audio journalism. The duPont Silver Batons were presented during a ceremony Wednesday night at Columbia University in New York City.

Scripps News, the national news network owned by Scripps, won for its reporting on the limits of Maine gun laws. WTVF, Scripps’ CBS-affiliated local television station in Nashville, received the award for its series of reports on political extremism in Tennessee. Scripps News was also a finalist for its investigation into the water crisis in Flint, Michigan.

“The relentless reporting from Scripps journalists across these three investigations is another reminder of the vital role they play as community connectors, keeping the public informed, engaged and accountable – often at great personal cost,” said Dean Littleton, Scripps’ executive vice president of media broadcast operations. “This award is a testament to the commitment of Scripps’ robust team of local and national investigative journalists to delivering hard-hitting impactful stories that go beyond the headlines and get to the bottom of the story.” 

Scripps News, “Maine Shooting: Missed Warnings”
Scripps News Investigates won a duPont-Columbia Award for its investigation into the 2023 Maine mass shooting. The investigation revealed how more than two dozen law enforcement officials had information about the shooter’s threats and access to firearms, but no one was able to remove the shooter’s weapons before he took the lives of 18 people. For more than a year, national investigative correspondent Lori Jane Gliha, investigative producer Brittany Freeman and the Scripps News Investigates team have been trying to find out why. Read the full investigative series to see what Scripps News uncovered.

WTVF, NewsChannel 5 “Hate Comes to Main Street”
WTVF Chief Investigative Reporter Phil Williams and the NewsChannel 5 Investigates team received a duPont-Columbia Award for their investigation into Franklin, Tennessee, mayoral candidate Gabrielle Hanson. In a series of reports, the team probed Hanson’s ties to white supremacists, her arrest history for promoting prostitution and her social media photo of a group of women she claimed to be her supporters but who later denied that claim and denounced her, among other inconsistencies and unusual revelations.

As the investigation expanded, the NewsChannel 5 Investigates team discovered how a Hanson ally, Shawn Taylor, had a lengthy history of bizarre, unfounded conspiracy theories before being hired as the assistant police chief in Millersville, Tennessee. This project has produced more than 60 individual stories.

The investigation into Hanson received a Peabody Award last May. This is the fifth duPont-Columbia Award for Williams and the NewsChannel 5 Investigates team.

Scripps News, “Flint: City in Contempt”
Scripps News Investigates was named a finalist for “Flint: City in Contempt.” The investigation found that nearly a decade after one of the nation’s largest public health scandals was set in motion, many Flint residents were still waiting for the city to remove and replace the corroded pipes that have been leaching lead into the city’s water supply. View the full investigation here. Scripps News also received a national news Emmy Award last September for its investigation into the Flint water crisis.

Media contact: Molly Miossi, The E.W. Scripps Company, 513-977-3713, molly.miossi@scripps.com

About Scripps
The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, ION Plus, ION Mystery, Bounce, Grit and Laff. Scripps is the nation’s largest holder of broadcast spectrum. Scripps is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps’ long-time motto is: “Give light and the people will find their own way.”

Scripps in the news     Scripps press releases

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SOURCE The E.W. Scripps Company

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GC Cell Symposium with Bifarma Expands Global Impact and Reach for Immuncell-LC

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YONGIN, South Korea, Jan. 23, 2025 /PRNewswire/ — GC Cell, a leading cell and gene therapy company, announced the successful completion of its first thought leadership symposium in Jakarta, Indonesia. The event was organized in collaboration with PT Bifarma Adiluhung (Bifarma), a pioneer in Indonesia’s stem cell therapy sector, and showcased GC Cell’s innovative cancer immunotherapy, Immuncell-LC.

Insights into Immuncell-LC’s mechanisms of action, real-world treatment experiences, and clinical case studies were key focus areas of the symposium. Indonesian oncologists engaged with renowned Korean medical professionals experienced in applying the therapy in clinical trials, fostering fruitful in-depth discussions about its clinical potential.

“As the first-ever overseas event for a cell therapy created in Korea, this symposium marks is a significant milestone for the industry,” said a GC Cell spokesperson. “By building trust and visibility in the Indonesian market, we are accelerating the global commercialization of Immuncell-LC and establishing it as a leading treatment option for cancer patients around the world.”

Strengthening Global Partnerships

Since signing a licensing agreement with Bifarma in September 2024, GC Cell has been actively transferring the necessary technology to support local production and quality control. The six-month program, conducted at GC Cell’s headquarters, is on track to enable Bifarma to launch Immuncell-LC in the Indonesian market by 2025.

A participant in the symposium commented, “This event provided a unique opportunity to understand the impact cell therapies can have on oncology in Indonesia, while underscoring the high level of interest among local healthcare providers. Immuncell-LC has the potential to transform cancer treatment here, and we are excited to see this unfold.”

GC Cell’s collaboration with Bifarma is part of its broader strategy to expand its presence in global markets, offering innovative cell therapies to improve patient outcomes across borders and establishing a competitive edge in the rapidly evolving global biotechnology landscape.

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SOURCE GC Cell

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