It’s not Just About ROI - Share the Whole Picture

So far, this blog post series has covered the startling cost of mismanaging contracts and why knowing your audience and calculating the Return on Investment (ROI) is critical as you build a business case for Contract Lifecycle Management (CLM) software technology.

This week we take a final, high-level look at why smart CLM software is critical for your business, both now and its the future. We offer valuable suggestions for convincing the stakeholders at your organization that starting a CLM journey today is critical to ongoing success - not only for your legal department but the entire organization.

CLM Technology for the Entire Business

It is a common misunderstanding that CLM is solely used by legal for legal. In fact, CLM has several proven benefits across the company that ultimately impacts the company’s bottom line.

• Reduces Risk: An innovative CLM platform allows users to centralize all contracts and legal documents in an Artificial Intelligence-powered repository. A single source of truth reduces risk exposure and offers complete visibility into comprehensive legal data.
• Removes Silos: Enable streamlined interactions between all teams with widely-used applications, such as Salesforce, Microsoft Word, and MS Dynamics, to help the entire organization collaborate easily.
• Automates Intelligently: Leverage CLM’s Artificial Intelligence (AI) to automate workflows, task management, and other repetitive tasks. This saves valuable time for employees and ensures less human error.
• Drives Performance: CLM technology offers real-time access to essential data via visual dashboards and customizable reports. Gain a better understanding of how teams exceed expectations or areas needing improvement.

Even if YOU know that CLM software is advantageous for all departments, how do you get buy-in to move forward with it? Leah’s Building a Business Case for CLM, is an in-depth, step-by-step guide that helps you do just that. From C-level executives all the way down, we offer valuable tips to get them on board. Key steps include:

1. Educate Your Stakeholders
2. Understand Your Current Contract System and Processes
3. Know Your Audience
4. Provide ROI
5. Share Business Benefits
6. Create Urgency

In addition, our guide provides remarkable statistics to support your CLM case, asks critical-thinking questions about your enterprise, lists advantages by job title, and helps you discover ROI for your organization. To start your journey today, click the button below to download the guide and explore our smart platform’s capabilities and functionality.[cpai-button url="/resources/building-a-business-case-for-contract-lifecycle-management/" style="yellow" label="Download the Guide"][/cpai-button]