Many organizations use their contract management platform primarily for contract storage. But in reality, a robust contract lifecycle management (CLM) solution offers so much more than that. 60 to 80 percent of B2B deals are managed by contracts, with companies managing on average 20,000-40,000 contracts per year.  If this critical business process is not handled accurately and efficiently, it can create significant risk and losses for an organization.

Comprehensive contract management – facilitated by a CLM solution – is critical to mitigating risk and reducing loss related to contracts. A contract management platform is an investment that offers tremendous ROI to any organization, including:

  • Process streamlining and efficiency gains
  • Improved business flow though insight into how contracts move, perform, and bottlenecks
  • Reduced risk and improved compliance
  • Source policy and contract language enforcement
  • A way to develop policies and best practices around contracts
  • Integrating a comprehensive CLM solution can lead to 60% faster contract cycles, 50% faster negotiations, a 40% savings in administrative costs, and a 10-30% saving in operating costs.

Even more importantly, a good CLM can provide overall ROI of 150-200% in one year. This is why you can’t afford not to have a CLM platform.

Download this eBook, to learn more about how contract management improves compliance, reduces risk and improves business efficiency, providing tremendous ROI.