Contract Lifecycle Management
By bridging every contract phase from creation to execution (and beyond), CLM greatly automates and streamlines contract processes to:
- Quickly draft new legal agreements based on pre-approved contract templates
- Manage the approval lifecycle of templates and contracts
- Effortlessly execute and sign contracts with the preferred technology
- Track contractual obligations stemming from executed agreements
Process Walkthrough
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Intuitive dashboard
The main dashboard provides an overview of current contracts along with their respective statuses. It also displays insightful statistics showing how contracts are distributed by region, type, or department.
Everything is fully configurable to match specific business requirements.
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Create a new party
A new contract party can be easily added by completing the relevant form with general information and one or more contact persons.
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Create a new party
Upon form submission, a dedicated Business Workspace for the newly created party is generated, which includes all the details previously completed in the form.
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Create a new contract template
The user starts creating a new contract template by filling out a form with the contract template details – such as contract type, jurisdiction, and language – and then submits it. The classification categories are fully configurable.
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Template Business Workspace
Once the form has been submitted, a new Business Workspace for the template is created. The user then adds the contract document, which must go through an approval process before it can be used in the standard available templates.
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Create a document release
First, the user creates a new document release…
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Create a document release
…which is then displayed in the corresponding section.
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Start contract approval flow
The user then triggers an approval workflow to deliver the draft to the approver for review.
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Contract approval flow
The approver is notified of a new task requiring their approval.
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Document approval
They open the task, review the document, and, if everything is confirmed, approve it.
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Approved document release
The status of the document release then changes from DRAFT to APPROVED, and it can be selected as a template during the creation of a new contract.
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Create a new contract
The user now starts creating a new contract by completing a form with all the required information, which is then injected into the new contract draft.
The previously created template can now be selected.
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Contract Business Workspace
The Business Workspace that is automatically created for the new contract is composed of three different sections. The OVERVIEW section contains all contract details, the involved parties, the relevant internal team, and the associated tasks.
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Contract Draft
While the CONTRACT DOCUMENTS section shows the document details and the key milestones of its lifecycle, including creation, approval, signing, and execution.
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Start approval workflow
Once a new release of the contract draft has been created, an internal workflow is triggered to have the newly generated release approved.
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Under approval status
The status is then updated. Reviewers receive a notification to review the release.
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Document Approved
The responsible reviewer checks the document and, if everything is compliant, approves it. The milestone status is updated in real time.
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Start signature workflow
Once approved, the contract is ready to be sent to the final recipient for signature.
This can be handled manually or, through integrated signing services such as DocuSign.
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Contract activation
Once signed by all involved parties, the signed contract is stored in the Business Workspace and officially becomes active. The milestone status is updated accordingly.
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Overview Update
The Overview section of the Business Workspace will also reflect the status change to Active.
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Post-signature management
The contract lifecycle doesn’t end once the document is signed. Obligations must be monitored, clause deviations tracked, and potential risks assessed.
The TASKS AND OBLIGATIONS section includes post-execution tasks to ensure continuous visibility and compliance – even after contract execution.
Key Benefits:
Contract Lifecycle Management solution for Content Management allows you to:
- Reduce contract turnaround times without sacrificing control
- Minimize legal and operational risk through standardized processes
- Improve compliance and audit readiness
- Lower dependency on IT for contract-related changes
- Extend the value of their existing Content Management platform
Get in touch
Would you like to receive more information on how to purchase Contract Lifecycle Management?
Do not hesitate to contract us for further details or to request a live demo.