Why every single company needs Contract Lifecycle Management (CLM) today?

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Organizations are finding ways to reduce operating & processing expenses, and all unnecessary complexity. As a result, Contract Lifecycle Management become crucial for all businesses worldwide.

Currently, in most organizations, legal departments often rely on traditional contract review and negotiation processes. Each contract review cycle requires countless emails back and forth to share and discuss issues and concerns. A centralized communication hub is missing to store all of the communication and collaboration materials. Over and above, contract negotiation and sourcing turn-around time is a lengthy process too. Not to mention, most organizations often face challenges to connect various systems and business applications because the majority of tools are running as a standalone solution, such as CRM, ERP, and other business technology to tackle specific needs. Therefore, businesses realize the advantages of using Contract Lifecycle Management (CLM) solutions beyond the pandemic.

Common CLM use cases

Sales
Sales processes become increasingly complex, automation in quoting and quote approval eliminate the dependency on legal.
Legal
Pre-approved clauses, deep analytics and easy tracking mechanisms help to save time and money.
Procurement
Adequate visibility into contracts to identify risks and opportunities, from vendor overspend to auto renewals.

Five signs that your organisation may need a CLM solution

Your contracts and processes are complex, that visibility into contract process is lacking.
Your contracts are non-standard without version control and appropriate access right restrictions.
Your agreements involve numerous stakeholders when generating, signing or approving a contract. Therefore, keep tracking of the status and flow becomes unwieldy.
Your completed contracts require subsequent actions after signing on a contract, such as storing and initiating billing.
Your completed contacts need to be regularly analyzed and managed because any errors leads to delayed closings, higher costs, missed opportunities and non-compliance within your organizations.

SoftwareOne and DocuSign CLM technology supercharges the contracting processes

A powerful central CLM platform offers improvements at each of the five stages of contract management: Generation, negotiation, routing, signature, and storage.

DocuSign CLM automates manual tasks, orchestrates complex workflows and eliminates bottlenecks to get work done faster and more accurately. DocuSign has been named a leader in the Gartner Magic Quadrant and the Forrester Wave.

SoftwareOne provides an end-to-end professional service from advisory to deployment as soon as you kicking-start the contact management project.

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Why every single company needs Contract Lifecycle Management (CLM) today?