I had the privilege of shaking hands and chatting with a couple of policyIQ clients in Las Vegas this week. They are currently using policyIQ for SOX (surprise, surprise– we have a whole bunch of SOX clients!). What really is a bit surprising is that after nearly 10 years and 20+ feature-rich releases we still have a number of policyIQ clients who are only using policyIQ for their SOX documentation. In Las Vegas, we enjoyed a great conversation about the core features and capabilities of policyIQ that make it possible to realize true gains in effectiveness and efficiency in all areas of an organization.
I kind-of tricked everyone. While we suggested that we would explore the use of policyIQ for more than SOX and would discuss the application for contract management, I knew going in to the conversation that I planned to talk about much more than contract management. I wanted to help others see that there’s no mystery or magic behind policyIQ that makes it scalable to all areas of the business.
policyIQ as a Contract Management Data Room
I described one contract management client’s use of policyIQ and, specifically, how they are using policyIQ as a data room. The client needed a place to manage their due diligence. They wanted to share a wide range of information with an equally wide range of associates and needed to ensure that each organization only saw certain materials while no two associations should be able to see each other.
Phew! At first blush, this sounds like a tall order. In truth, when you have a content management application like policyIQ that also comes with built in organization structures, search, reporting and several customizable layers of security, it’s really just par for the course!
We went on to discuss how this description of the data room and a platform for managing due diligence is useful for so much more than contract management. Any organization negotiating a range of agreements, mergers, acquisitions, divestitures, bankruptcy and so on would benefit and save a significant amount of time (and, therefore, expense) by employing such a platform!
Other Contract Management Uses that are Transferrable
Our data room discussion set the stage for the rest of the conversation. Other clients asking us about the use of policyIQ for contract management have expressed different priorities or needs including the need for a repository, a platform for review and approval, a tool for simplified monitoring, and a means for automating and tracking associated communications.
I know that I have the gift of gab and recognize that I need to make this a blog post—not a dissertation. So, I’ll try to summarize the discussion in a table that allows you to see how the features that make policyIQ a terrific solution for these contract management needs also make it a great option for so many other initiatives!
policyIQ and Resources Consultants – a powerful combination!
In addition to meeting with policyIQ users, I enjoyed chatting with some of our Resources Consultants who are learning more about the various uses of policyIQ. Our application and partnership with project professionals is undoubtedly a great combination for our clients. In case they weren’t already aware, I let the clients and consultants know that consultants on policyIQ engagements certainly have the full support of the policyIQ team. We recognize that sometimes the client will be best served by a consultant with specialized experience in information management, supply chain management, legal, accounting/finance, project management or some other specialty. When a client hires one of our consultants, it’s like hiring multiple people for the price of one—they benefit by the expertise and focus of a dedicated consultant backed by the expertise and support of the policyIQ team. And, we’re all passionate about this great company that we work for!
Did I mention that policyIQ clients are not charged for RGP Consultants’ access to their policyIQ sites?
No, I forgot! I didn’t get around to mentioning that you don’t have to pay for a Resources Consultant’s seat or user license in policyIQ. Just ask any member of the policyIQ team to set them up and we’ll be sure to mark them as “unlicensed” so that you are not charged for their access to your site. Yet another feather in your cap!
Help your colleagues to take advantage of this tool that you already own!
Soooooooo…if your colleagues are in the midst of various RFP processes, demo’ing different applications, paying for custom developers for home-grown sites, or still manually chasing all sorts of processes down in shared drives or email, please stop the madness and give us a call! It never hurts to ask the question. It’s true that I am biased and believe that policyIQ is simply a highly configurable relational database that can be used virtually everywhere, but it is also true that any member of the policyIQ team (including me) will be completely honest with you and tell you where we are strong and where you might rather pay the higher premium for an application with bells and whistles dedicated to a particular discipline. Looking forward to hearing from you!
Some resources that might interest you:
- Get help developing your content, your process, managing your project, implementing policyIQ or simply ask a policyIQ question: support@policyIQ.com
- Learn more about the various uses of policyIQ on our Solutions page and get some tips on rolling out policyIQ for other initiatives here.
- You might also be interested in these related Blog Posts: