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SAP CLM (Contract Lifecycle Management) Features and Benefits

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SAP CLM (Contract Lifecycle Management) Features and Benefits
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Features of Dynamic, Robust Contract Lifecycle Management Application

  • CLM enables you to keep all contracts in central visible place and save you from potential risks.
  • You can access any contract and track any important data so you don't miss any leads.
  • You can accelerate and concentrate in creating new contract in a fast but controlled fashion.
  • It empowers your business using self contract services and you can draft complex contracts easily.
  • Increasing pace in your workforce filling out fields quickly generating contract and save your time.
  • Analyze contracts compliance, risks and cycle time
  • Reduces risk offering complete visibility and insights in to all contract details.

Well Define Benefits of Contract Lifecycle Management Application

  • Identified and managed risks
  • Control on policies enforced
  • Reduced off contracts spending
  • Reduced legal fees and overcharge
  • Forecasted results
  • Reduced risk improving
  • Fully repository and searchable
  • Fully automated with reduced administration.
  • Helps organization in speed deal closing.
  • Secure, Reliable and controlled.
  • Ability to supports all kinds of contracts.

Not having a well defined Contract Lifecycle Management application process in place can lead to some of negative effects:

  • Inability to track contract compliance,
  • Impacting the ability to track due to incorrect use of terms and conditions.
  • Increasing cost of ownership.
  • Services not aligned with company objectives.
  • Lack of necessary internal review.
  • Leading to excessive inefficiencies.
  • Tracking global contracts is not easy

In large organizations revenue is lost each day in contracting process and CLM can assist in saving the unnecessary cost and time incurred on daily basis. Contract being the backbone of your company should always be taken care with outmost care. SAP CLM (Contract Lifecycle Management) is not a passing trend but an essential part of growing your business.

 


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