Contract Lifecycle Management – How to select the right platform?
Contract Lifecycle Management (CLM) plays a role, in one way or another, in practically every business. Nowadays, this vital task is supported by CLM software that provides – as its core functionality – a structured repository for signed contracts. A CLM platform can also support many other aspects of managing the contract lifecycle, such as template & clause management, contract drafting, negotiation, internal review and approv- als, signing, obligations tracking or analytics.
The thoughtful implementation of the right CLM platform will result in better efectiveness and efficiency (time-to-contract) of the processes that comprise the contract lifecycle. Digitalizing the creation, negotiation, approval, signing and storage of contracts will lay the foundation for higher compliance and performance of contract-related processes. It will also increase the level of reportable management information.
Lastly, a CLM platform that is configured with the end user in mind will increase everyone’s satisfaction with the contracting process – both within and outside of the organization. Wouldn’t it be great if your new CLM platform would turn your employees and business partners into happier and more engaged people?
From the table of content:
- Value Proposition
- Before you start: Set the expectations right
- Functional dimensions of CLM platforms
- Technical dimensions of a CLM platform
- Other dimensions worth considering
- Vendor selection process
- Case studies
This white paper aims to provide a comprehensive overview of functional, technological and other dimensions that should be considered when assessing whether a given CLM platform is right for your organization.
An LLI Whitepaper by Klaus Gresbrand (Editor and Main Author) with contributions by Baltasar Cevc, Benedikt Eger, Kai Jacob, Dennis Jansen, Frank Stößel, Dr. Roger Strathausen and Dr. Bernhard Waltl