Key Takeaways
- Simplicity drives adoption. Successfully implementing CLM depends heavily on making processes simple and accessible. Keeping things easy for stakeholders is critical, as people will work around overly complex processes.
- Data enables strategic decisions. Having comprehensive contract metadata allowed Confluent to make data-driven decisions, such as hiring additional US-based staff based on contract volume and adjusting legal review requirements in APAC based on contract risk profiles. Tracking metrics like cycle times, contract volumes, and regional patterns also allowed Confluent’s team to optimize operations.
- Use integrations to streamline workflows. The integration between Coupa and Ironclad enabled parallel processing of purchase requisitions and contracts, reducing cycle times. This eliminates the “chicken and egg” problem of contract vs. PO approval sequencing and keeps users in their preferred systems.
Interested in seeing how Ironclad can help you speed up your procurement contracts? Talk to one of our digital contracting specialists and get a custom demo.
Ironclad is not a law firm, and this post does not constitute or contain legal advice. To evaluate the accuracy, sufficiency, or reliability of the ideas and guidance reflected here, or the applicability of these materials to your business, you should consult with a licensed attorney. Use of and access to any of the resources contained within Ironclad’s site do not create an attorney-client relationship between the user and Ironclad.
