Ryan McNamara’s Post

Legal leaders are not using metrics to actively monitor and manage their contracting function. The result? Slow contract turnaround times, mismatched resource utilization, increased risk, revenue leakage and strained customer relationships. #GartnerLegal #LegalOps #LegalOperations #Talent

Have you ever worried about getting fired because you picked the wrong partner, or selected the wrong supplier? In today’s fast-paced business environment, the allure of quick deals and rapid expansion can sometimes overshadow the fundamental principles of due diligence. However, the dangers of not knowing who you are about to do business with are real and can have far-reaching consequences. Like getting you fired. Skipping due diligence can expose your business to financial risks, legal complications, and reputational damage that may take years to repair. It's not just about verifying facts and figures; it’s about understanding the values, operations, and integrity of your potential partners. Due diligence is the cornerstone of sustainable growth and trust in business relationships. It ensures that partnerships are built on a solid foundation of mutual respect and shared values. This meticulous process helps in identifying opportunities and mitigating risks, setting the stage for fruitful and long-lasting collaborations. Let's not underestimate the power of being informed. In the realm of business, knowledge is not just power—it's protection. #DueDiligence #BusinessIntegrity #RiskManagement #SustainableGrowth

Sid, an engineering manager of a big MNC has been busy since receiving a call from his boss that morning. His boss told him about the new project, features to be built and released to market within 3 months' time, an additional $1M is made available. He has to act fast, it is not possible to hire talent and develop product in such a short time, only way is to reach out to vendor partners. He worked for a whole week gathering details, drafting SOW, reviewing it multiple times and submitting to finance department. He then talked to multiple vendor partners and finally zeroed in on one who can respond quickly. Current system hinders the progress work with non-value add layers. #IT #FRUSTRATED #AIDOOS

Here’s my honest opinion on switching from w2 to 1099 in the merchant services industry. A few key points to note: 1. This is not me bashing on my previous employers. 2. I was a top performer in multiple roles at each of these companies. 3. I forgot to mention that choosing the right ISO to partner with is crucial to your long term success. 4. READ YOUR AGENT CONTRACT MULTIPLE TIMES. Get a second set of eyes to look at it. The devil is in the details. 5. Work with people you trust and know personally.

Client: "Why do we have to change the contract?" Me: "Because there's risk in [X,Y,Z places]" Client: "But we've been using it and everything's been fine." Me: "You could drive double the speed limit and not get caught. Maybe you could even get away with that for one, two weeks. But at some point you'll get caught." Client: "Ok, I see what you're saying. Let's do it." =================================================== Contract risk is tough to "get" and wrap our minds around. It's like this amorphous blob. Yeah it's there and it's annoying but it's in the corner and not really bothering us so why deal with it. The speed limit analogy is a good one because it's simple and intuitive. We understand it right away. It resolves the "is this a problem?" question in the client's mind and moves the conversation forward. Feel free to use and adapt. #armingtherebels

Do you know that your vendors could be the unsung heroes in your business narrative? Behind a successful business, there's a reliable vendor ensuring smooth operations. But how can you be sure you're selecting the right one while mitigating vendor fraud risks? That's where our Vendor Due Diligence services come in! Dive deep into the reliability and compliance of existing or potential vendors with the fastest turnaround time (TAT) for vendor due diligence! Let us help you turn your business story into a bestseller with the right supporting characters. Write to partner@ongrid.in or click the link below to know more! https://lnkd.in/gguky5Sb Piyush Peshwani, Vineet Bansal (Hiring Engineering Leads), Vaibhav Yadav, Ranjan Ramchandani, Shaji Nambiar, Aman Duggal, Pooja Salian, Mukul Sirohi, Arya Balabantray #VendorDueDiligence #BusinessSuccess #ReliablePartners

Contract Erosion means your contracts are leaking value every day. The goal has to be to prevent this from happening. Yet many aren’t even aware this is happening. Why? Reactive Contract Management. We need to shift how we think about this and deploy proactive post-signature contract management. Only then will you start to protect the contract value of every vendor contract.

According to the WCC's 'ROI of contract excellence report' last summer, contract erosion is costing organizations an 𝐚𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐟 𝟖.𝟔% in losses 👀 While there's no single root cause, it takes many shapes & forms: 🗓️Missed deadlines 🎯Missed targets, benchmarks 💰Unwanted spend due to auto-renewals 𝘗𝘙𝘌𝘝𝘌𝘕𝘛𝘐𝘖𝘕 𝘪𝘴 𝘮𝘪𝘴𝘴𝘪𝘰𝘯-𝘤𝘳𝘪𝘵𝘪𝘤𝘢𝘭 𝘵𝘰 𝘦𝘯𝘴𝘶𝘳𝘦 𝘺𝘰𝘶 𝘳𝘦𝘴𝘵𝘰𝘳𝘦 𝘷𝘪𝘴𝘪𝘣𝘪𝘭𝘪𝘵𝘺, 𝘨𝘢𝘪𝘯 𝘤𝘰𝘯𝘵𝘳𝘰𝘭 & 𝘴𝘢𝘧𝘦𝘨𝘶𝘢𝘳𝘥 𝘤𝘰𝘮𝘱𝘭𝘪𝘢𝘯𝘤𝘦!

Companies: We're hiring across all levels! The levels (in ascending order): Senior Senior II Senior III Señor Senior, Junior Señor Senior, Senior Final  ̷F̷a̷n̷t̷a̷s̷y̷ Senior Final Senior II < ... 12 levels later ... > Final Senior XIV: Dawntrail Final Senior Tactics And don't get me started on the Staff+ levels. (UPDATE: This post unexpectedly exploded while I was looking away for 2 seconds, so apologies in advance if I don't react/respond to you. These comments are just coming in too fast for me to get to within my personal SLA 😭.)

This question saves me from major client disputes. Remember! The feedback starts building in your client's mind from the first discovery call. So you should have a clear idea of Do's and Don'ts. And this question gives you a clear idea of the client's expectations. The question is: ↳ Have you hired someone else for this position earlier? If the client's answer is yes. Then politely ask: ↳May I know the reasons for the discontinuity of your contract with him/her so that I can avoid them. If your client answer this, Write down each point in bold. And avoid those at any cost. Don't be the one whose contracts end in disputes. P.S. Do you already ask this question or it's new for you?