CONTRACT LIFECYCLE MANAGEMENT SOFTWARE
Contract Lifecycle Management (CLM) is a step-wise methodical way starting from contract request through to generation, execution, negotiation, approval and its final closure. It involves all the stakeholders and their interactions to provide visibility of the information flow. A contract lifecycle management software using automation proves to benefit the organisation by maximising savings and reducing risks.
Auto-Aligned and Unified Processes
Contract lifecycle management usually involves fragmented pieces of information from vendors, suppliers, legal, owners and other participants; this creates gaps in communication, leads to confusion, inefficient delays, and losses. Contract and CLM processes are managed with software to go through a well-defined cycle using business intelligence rules, centralised data management, signature capture, and dynamic forms.
Maximise Opportunities, Minimise Risks
Our contract lifecycle management software solution puts every regulated process and information into a single validated source. Audit the risk factors, sales opportunities, future prospects, performances, process efficiencies and ROI with analytics of each contract.
Customised Templates and Forms
Automate contract creation with standardised forms, readymade templates, clauses, mandatory validations, and personalised themes. Involve all the stakeholders with proper accessibility rights to ensure transparency, clarity and complete coordination.
How does software support contract lifecycle management?
Authoring and negotiating contract conditions using report rules and intelligent workflows ensures true, updated and reliable information exchange. Multiple people can collaborate together and make changes permitted by the platform and send them to all with attachments, redlining and versions.
Execution of the contracts with the status cycle, escalating and de-escalation of the requests for approval and negotiation, tracking amendments becomes easy with real-time visibility and notification alerts. Manage cancellation, renewal, novation, termination and closure terms that are auto-validated and checked at mentioned intervals.
Easy-to-search and filter the contracts based on different parameters
Save time using automated workflows to govern contract lifecycle
Higher user adoption rate with intuitive and friendly interface
Review and monitor the progress at each stage
End-to-end management with compliance and standards
Access contract import and export tools
Fixed and variable pricing options with high scalability
Author contracts with speed using standard templates and close more deals
Reduced admin costs with decreased contract cycle time