Know where your contracts are and what’s in them.
Contract lifecycle management (CLM) is the process of managing the creation, negotiation, execution, monitoring, and analysis of the contracting process to maximize operational and financial performance while mitigating risk.
Through our contract lifecycle advisory service, we can help your organization recognize significant benefits by implementing a contract lifecycle management program. A formal CLM process minimizes risks including:
- Inability to monitor the status of a contract
- Inability to enforce contract compliance
- Lack of a proper review and approval process
- Lost opportunities for revenue generation or recovery
Simplify the Complex
At Compliance, we know how to simplify and distill the complexity of CLM. Through our advisory services, we can help your organization institutionalize knowledge that will bring a new level of transparency and control to your contract process. Whether your goal is to digitize paper contracts or implement an efficient and standardized process, evaluating and actualizing a CLM can be a burdensome and complex process.
With our advisory services, we understand the contract lifecycle and can help your organization:
- Implement a CLM process and system
- Build workflows that orchestrate efficiencies
- Quantify success and ROI
Implementing a technology-enabled contract lifecycle management process brings a tremendous cost savings to companies in the contract negotiation process in terms of the time required to execute a contract and resource optimization.
CLM also brings transparency into the contract negotiation pipeline allowing stakeholders to prioritize deals and contracts to maximize value and meet deadlines while also providing more insight into deals that are stalled in the pipeline.
Start the negotiation on 3rd base rather than home plate.
When deals stall due to unique and unprecedented contract language, one of the many benefits of an automated CLM system is the ability to weight risk for each clause in your contract process. By using technology to create data-driven intuitive contracts and to build negotiating profiles weighted against risk, you can build a more expeditious negotiation process with greater awareness of the negotiation tactics that work.
We can improve the way you manage contracts today.
Where do you begin? We can help you get started.
During an assessment, our consultants will create benchmarks and will map your process into a current state operating model. Through the assessment, and later development of a contract playbook, we will map out where your contractual data resides, and we can help your organization limit, or even eliminate manual intervention.
We can help you quantify metrics driven value through the implementation of a technology-enabled CLM solution. We can help your organization realize the value of creating standards and implementing governance around your contracting process moving forward.
Contact Compliance today and discovery the advantages of comprehensive contract analytics and review solutions, or learn more about how we solve eDiscovery and managed review needs with technologies and expertise.