Contract Lifecycle Management Automation Adoption: Challenges and Solutions

Whatever the nature of your business, there is always a demand or need to deal with multiple types of contracts, for example, Non-disclosure Agreements, Master Service Agreements, Service Level Agreements, Statements of Work, Change Requests, etc.

Three key factors decide the level of complexity for the contract:

Type of Contract.
Industry (Pharmaceutical, Manufacturing, Automobile, Retail, e-commerce).
Size of Organization.

The Contract Lifecycle Management (CLM) tool helps to streamline and automate the contracting process, reducing risk and the time consumed during the contracting lifecycle. It improves visibility and accuracy as well as provides better governance and control.

In any organization, there are many people who are not accustomed to using technology for their daily work. For them, adopting a process of digitalization may be difficult. To gain maximum benefit, organizations need to communicate how the technology would simplify the process flow.

3 Common Challenges & Solutions in CLM Adoption

Challenge 1: Business users are uncomfortable adopting the digitalization of processes.

Solution: Communication

Explain the purpose behind the digitalization and the immediate benefits that they can obtain (e.g., instant reports, analytic dashboards, full-text contract search).
Prepare the enablement plan, training, and demo recordings for the CLM Process on the tool.

Challenge 2: Missing Legacy data information on the tool.

Solution: Priority of process establishment

Filter the information that is the minimum required to start the digitalization.
For example, to start the CLM tool we need all customer, partner, and distributor information within the tool. Make that available before beginning to use it.

Challenge 3: Executed contracts are accessible for internal users across the organization, though they do not use the tool.

Solution: Establishing System Integration

Though contract lifecycle is performed within the CLM tool, the contracts need to be accessible to various end-users who may not have access to the CLM tool. The contract should be made available at an external, global repository.

CLM adoption will help you accelerate your business. Investing in contract management digitalization transforms your CLM Journey and can quicken cash flow for the organization.

Ready to Streamline Your CLM Automation?

Tattvavid Technologies specializes in Conga CLM & Salesforce Contracts implementations. Contact our certified solution architects for a customized consultation.

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