Five key areas of risk in related to CLM:
- Can you quickly search, locate and track your agreements or report on key data points? (On average, companies use 5% of their revenue as costs of CLM)
- Secure, central repository
- Capture contract type centric data
- Report on key data points
- Key dates and obligatiions
- Proactive email alerts.
- Action item tracking.
- Calendars and to do lists.
- Business rules and compliance
- Create business rules and workflows.
- Analyze requirements and KPI's.
- Uncover bottlenecks while improving compliance.
- Contract language and redlining
- Create agreements using approved language
- Complete document routing
- Version control and auto-compare
- Role-based security
- Robust security controls
- Enforce security at different stages
- Integration with Active Directory.
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