2017 Contract Lifecycle Management Report
Streamlining Business Operations with Holistic Contract Lifecycle Management (CLM) Software
When it comes to business contracts, many companies are looking for a way to compile different types of contracts managed across a variety of parties and methods into one cohesive, controlled system. However, not all companies turn to the right tools to accomplish this goal. Instead, many use generic, piecemeal, or homegrown document management tools for their contract management needs. This is partly because of the similarities between CLM solutions and more generic document management or document sharing systems. In reality, CLM software has much more to offer organizations than those generic methods.
The value in CLM software is in how it monitors and reacts to the information it hosts to help organizations stay on top of their key business functions. CLM software also increases a company’s ability to be more strategic in their business operations as a whole, as it reduces the risks that come with poor visibility into business and financial data.
This report includes:
– Explores and corrects some of the misconceptions around CLM
– Outlines the value of the tool for companies’ contract management control
– Highlights current CLM management adoption trends and offers a set of best practices for companies considering a solution