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How CLM Takes Legal Teams From Cost Centers to Business Partners

CLM can help legal teams become more efficient so they can focus on more strategic work, rather than just the administrative tasks associated with contracting.

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Contract lifecycle management software handles the whole lifecycle of a contract...

Andrew Bartels

50% of business leaders report that contracting inefficiencies have resulted in lost revenue. 

By implementing a CLM solution that delivers real results, you can ensure you’re aligned with business goals, increase efficiency, and drive growth for your entire organization.

In this webinar we will cover: 

  • Why business contracts are the most difficult yet important problem for modern businesses to solve 
  • The current CLM landscape and how to successfully choose the right solution 
  • How digital contracting delivers more business value through successful deployments, high adoption rates, and a community of innovators 

Key takeaways

Here’s some really important things you should remember:

  • Think holistically
  • Engage comprehensively
  • Don’t stop with CLM when the contract is signed
  • Take advantage of new AI functions

 

 

 

 

 

 

 

Watch Now: How CLM Takes Legal Teams From Cost Centers to Business Partners

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Lessons Learned from CLM Implementation:

Land and expand: There are a lot of stakeholders with different points of view and priorities. Don’t try to do an end-to-end roll out managing every contract type and pleasing all stakeholders at once. Instead, consider the ‘land and expand’ strategy where you focus on one group and roll something out there.

Clean up your own house: Tech isn’t going to solve everything, so do the work to get ready for the tech. This means template harmonization, unify processes, terminology, taxonomy, etc.

Focus on adoption: The most important piece for tech project success is adoption. At Google, we had two very simple, but important guiding principles to ensure maximum adoption
1. It has to be markedly easier and better than the old way
2. If it requires training, it’s dead. You need your new tool to be as intuitive as possible. Here, we call that ‘walk-up usable.’ Adoption is key because the real value of CLM is data. If there’s no adoption, there’s no data.

Table of contents

Is CLM a Good Investment?

If you’ve ever had to create a contract or manage the contract process at your company, you’ve most likely run into outdated contracts, slow approval processes, and manually tracking contracts in a spreadsheet. The pain points are easy to identify, but how do you know you’re making the right investment? And how do you prove the value of contract lifecycle management? 
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