Conga & Wipro power EaaS transformation for the new manufacturing economy
Conga & Wipro power EaaS transformation for the new manufacturing economy
3 Reasons Why Legal Teams Need Contract Management Software
Today’s legal leaders have a difficult job. They have to manage day-to-day legal operations to keep the business moving forward. They need to stay ahead of regulatory changes and prepare for the challenges that may lie ahead. They’re increasingly asked to partner with sales and take a bigger role in the revenue process. And in many organizations, they’re doing all of this—and more—with fewer resources than ever before.
These tasks can feel insurmountable, especially since they often seem to conflict with one another. The key to success is to transform legal processes and become more data-driven, using a contract lifecycle management (CLM) solution.
Contracts are the lifeblood of any business—but managing contract creation, execution, and analysis can be time consuming. CLM software is designed to replace manual contracting processes, automate repetitive tasks, and streamline disjointed workflows.
A CLM system also collects critical contract data—like customer information, agreement terms, and contract statuses—and stores it in a central repository, so you can easily access the data you need and manage complex contracts at scale. The ultimate goal of CLM is to optimize the contract lifecycle from start to finish.
Managing risk is a fundamental role of any legal team. However, it can feel like a moving target in today’s constantly evolving regulatory environment. The right CLM can help legal teams identify and mitigate risk across hundreds, thousands, or even millions of contracts. For example:
In many organizations, the legal team is siloed from other functional areas. However, with a CLM system in place, they are better integrated into the flow of business processes. From there, they can more easily partner with sales teams and support revenue management. For example:
In many organizations, the legal team is viewed as a barrier to closing deals quickly—but it doesn’t have to be that way. With the right CLM in place, legal teams can streamline contracting and negotiation processes to accelerate the sales cycle.
Legal leaders are under tremendous pressure, but the right CLM can act as a release value. Get a demo to find out how Conga CLM can help you reduce risk, improve processes, and take control of your contracts.
Interested in hearing some expert perspective on this topic? Watch our LinkedIn Live event, Navigating Legal Leaders’ Concerns: Cybersecurity & Regulatory Growth with special guest Lisa Bloomberg, Principal Director at Accenture.
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