When businesses use separate solutions for contract lifecycle management (CLM) and contract analytics, they miss out on a lot.
What's the impact? They lack an understanding of what risks and opportunities reside in the actual terms of their contracts, as well as the ability to act on those risks and opportunities in a timely and controlled fashion. They burden their legal departments with onerous cross-checks and dilute efficiency in other business processes that require collaboration.
How the convergence of CLM and contract analytics is accelerating revenue and driving proactive risk management.
Leading CLM solutions have now brought contract analytics directly into their CLM systems, unifying contract standardisation and automation with contract intelligence. The result is that, for the first time, contract management is becoming truly agile — and organisations are able to realise benefits from their CLM investment that were not attainable before.
This paper outlines the three key capabilities to look for in an unified CLM and contract analytics solution: