We are delighted to launch the results of our 2017 survey and provide our readers with a free copy. Simply click to download here.
The results provide our updated cloud data, both identifying continuing trends and benchmarking contractual terms and conditions. This data is a valuable reference for providers and customers navigating the increasingly complex cloud marketplace. We also have very exciting new data on digital disruptions and transformations that are having enterprise-wide impacts on our clients and how we practice law. This data gives everyone a chance to see around the corner and scan the horizon within their organizations and the marketplace for how deals will be completed and managed in the digitally disrupted extended enterprise.
Key Insights from this year’s results:
- A majority of our respondents have not yet updated their contractual provisions regarding GDPR.
- Data residency laws are having an impact on cloud sourcing.
- Increasing regulatory environment applicable to the cloud, but cloud marketplace is evolving to be compliant with those requirements.
- A majority of our respondents indicated that digitization has impacted their sourcing and contracting processes.
- 92% of respondents permit some form of electronic contracting.
- Most respondents capture some basic information about their agreements (e.g., price and term), but few respondents are capturing or monetizing more data about their agreements (e.g., spend analytics, service level performance).
- Barely 25% of respondents ranked face-to-face as a mechanism they used in contract negotiations.
- Our responses indicated machine learning, blockchain, and emerging technologies’ impact on contracting and sourcing on the horizon, but few respondents have started to adopt these technologies yet.
Contributor: Jason Irvine-Geddis.