Improve Contract Lifecycle Management

Contract Lifecycle Management Solution picture

A Contract Lifecycle Management Solution will help you Save Time & Improve Performance

Big Companies deal with thousands of contracts that can include hundreds of pages. So how do you quickly locate the information you need? How can you make sure none of your contracts is underperforming? These are crucial questions, as unmanaged contracts are very likely to cost you a lot of money and opportunities. Indeed, many companies who are looking for new ways to reduce costs and save money could be much more efficient if they simply ensured their contracts were performing as well as they were supposed to.
But how can you really leverage Contract Lifecycle Management?

Contract Lifecycle Management

Contract Lifecycle Management (CLM) is the process of controlling every stage of the contract, from authoring to getting paid and ensuring compliance through every step. To improve efficiency in their CLM processes, many companies have decided to implement a CLM Solution. A CLM Solution will allow your entire portfolio of contracts to be visible, searchable and secure. You will be able to sift through much data very quickly without fearing any human mistake. And you will also be able to keep track of important dates so that you do not miss a thing.

What does a CLM Solution really bring?

Implementing a CLM Solution doesn’t only prevent from human errors. It also enables you to make faster and smarter decisions. For example, if your organization is located in different countries, a CLM Solution will help you make sure everyone in every country is working with the latest version of the contract. A CLM Solution can also keep track of important dates. As a result, it is a powerful tool for ensuring compliance and making sure everyone is delivering what they are supposed to at the right time. Finally, a CLM Solution also enables you to access all the data you want for a quicker and better analysis of your process.
In a nutshell, one can claim a CLM Solution will help you Reduce Risk, Increase your Profits, & Improve your Performance.

Discover Ivalua’s CLM Solution

That is why, at Ivalua, we decided to create a comprehensive CLM Solution. With the Ivalua Solution, you can:

  • Leverage a single, central repository providing global visibility over all contracts
  • Reduce Contract cycle times through interactive negotiation between parties and streamlined approval processes.
  • Manage and Automate Contract renewals, proce changes, expiration notifications and terminations

Staff Contributors
Contributing writers from inside and outside Ivalua occasionally add items and information to this blog. We are a team who share an interest and curiosity about procurement and spend management.

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