Market Research: Contract Lifecycle Management (CLM)

Contract lifecycle management (CLM) software is usually a cloud-based technology solution that helps legal and business teams to create, negotiate, sign, renew and analyse contracts digitally. It streamlines the contract lifecycle and enables business users to self-serve and manage routine contracts at scale, all in one unified workspace.

Some figures about contracts

  • From 250 contracts per year it is worthwhile to buy a CLM package
  • The payback period of a CLM package is often 6 months or less
  • 25% of the contracts cannot be found and are therefore not followed up
  • 65% of the contracts are not complete
  • 30% of contracts are poorly or not executed
  • 70% of contracts are tacitly renewed often without management being informed

What added value does a CLM offer?

  • Less (financial) risk
    • All contracts on 1 Saas platform and accessible to those who have the rights
    • Easily decide who can see, comment, modify and approve which contract.
    • Contracts that always start from the most recent clauses
    • Approval flows that ensure that the right level can/should screen and sign the contracts
    • Contract protection and privacy best practices
  • Higher productivity
    • Bulk contract generation and pipeline management (CLM linked to CRM)
    • CLM is (usually) linked to E-signing software so that the signature also comes in smoothly with automatic reporting
    • The business can already prepare a contract proposal without the help of the legal department
    • Update a contract in 1 place by both employees and external parties with a full history of the changes
    • Accelerate contract review and execution
  • Better reporting and follow-up
    • Show the productivity of departments related to contract management, contract creation and lead time
    • A powerful search function to easily find the right contracts
    • Increase the visibility of contracts and thus gain an insight into the rights and commitments of your company over time
    • Notification when your contract is commented, amended or approved by both colleagues and external parties
    • Automatic reminders about cancellation and end dates; or other agreements such as year-end discount, indexation, ...

What can you expect?

Download PDF of the market study

  • Visual segmentation/positioning of solutions
  • Key differentiators
  • Matrix / table with comparison
  • Trends
  • Clarifying concepts & terminology
  • Interesting contacts

2 workshops of about 2 hours with a challenger at your office (Belgium) or virtually

  • Listen to your situation (business & IT)
  • Present the market study: gaining inspiration & insights
  • Sounding board with the goal of giving you insights to go to a short-list in a more focused way, putting you in touch with partners, asking the right questions of suppliers.

Vendors compared in this market study:

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Following ODUM Challengers participated in this market study:

Olivier van
Olivier Mangelschots
Jan Heyens
Experience Architect

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