Contract management is the last major area for enterprise automation, offering extensive performance benefits. While current CLM Software have mostly failed to meet client needs or expectations, emerging technologies offer a new start. CLMs have mostly been relegated to a repository and a searchable database, due to which corporates fail to get the promised returns in terms of savings and efficiency.
At the edge of the enterprise, Contract Lifecycle Management empowers the user community closest to the trading partner – whether it be a customer, employee, vendor, or partner – to have the contract information they need, when they need it, in the way that makes the most sense for them.
Modern CLM solutions integrate with various enterprise systems already in use to ensure that the learning curve for users is not very steep by presenting a familiar user experience.
And just as Information should be shared between systems, contract processes should be shared across functions.
In the coming weeks, we’ll take an in-depth look at each enterprise function that is affected by CLM and see how the solution adds value to each of them.
You can watch our latest webinar, conducted with IACCM on Taking CLM to the Edge of the Enterprise Click here.