Ops A Contract Lifecycle Management Tool That Meets Your Needs 1. Full Microsoft Office Suite Integration: For most
ď‚„ Keep these 10 key requirements in mind when selecting a CLM solution for your organization.
employees involved with contract management at most companies, the Microsoft Office Suite is the base of operations from which they run their workday. Therefore,
CCBJ: Please give us a brief overview of the 2020 Wolters Kluwer Future Ready Lawyer Survey. What was your goal in conducting this survey? Lee Matthews: The market for contract lifecycle management (CLM) solutions is a busy one. There are so many options out there that it can be difficult to understand how companies and their product offerings are differentiated, and which will best meet your needs. There are a few things you can look for, however, to ensure that your company chooses
its integration into the contract editing process is a key part of driving the user adoption and efficiency of a new technology. Many vendors leverage plug-ins as a form of integration, but plug-ins come with limitations. Choosing a solution with native Word integration means you can expect full formatting freedom, tracked changes, redlining, full language support and clause version control. 2. Integrated Clause Library: CLM solutions that rely on templates create the need for manual processes and
a CLM tool that will work well for your organization. When
introduce version control and compliance challenges. Look
beginning your search, keep these requirements in mind to
for a clause library that offers automation and dynamic
achieve the best end result. I would also recommend includ-
contract assembly to ease clause maintenance as well as
ing each of these in your CLM solution request for proposal.
contract initiation and assembly. CORPORATE COUNSEL BUSINESS JOURNAL
55
