Presentation on theme: "Contract Lifecycle Management Improve responsiveness, efficiencies, and oversight & reduce risks and costs INSTRUCTIONS: 1. Apply your company template."— Presentation transcript:
Contract Lifecycle Management Improve responsiveness, efficiencies, and oversight & reduce risks and costs INSTRUCTIONS: 1. Apply your company template to this deck. 2. Delete this header bar when finished. Contract Lifecycle Management (CLM) is the technology that allows sales organization to automate the entire contract lifecycle, from contract creation through amendments and revisions to e-signature and compliance. Automated CLM speeds time to revenue, prevents revenue leakage and reduces risk.
Summary Contract Lifecycle Management is becoming increasingly complex to manage – More contracts – More complex contracts – International contracts & offices Solutions exist to help us better manage our contracting process 2
Contract Challenges Process issues System issues Frequent changes Too much risk with contracts 3
Process Issues Sales team is starting with third-party contracts We invest a lot of time reviewing, amending and approving contracts Often it is difficult for us to use consistent, correct legal language across contracts and over time We need to align the legal team with business people across regions, divisions, etc. Lack of continuity and fluidity in our approval processes with line of business Legal is viewed as an obstacle to closing deals 4
System/Process Issues Disparate tools Reliance on stand-alone Microsoft Office, namely Word Information silos (including in the lawyers’ heads) Poor visibility into contract terms, obligations & value Lack of controls to catch and mitigate errors Crude repositories –SharePoint, filing cabinets & PCs 5
Frequent Changes Faced with rapidly changing regulations domestically and internationally Constantly updating legal language and policies across the growing enterprise Contract revisions are frequent Our rate of mergers and acquisition stresses weak process and technology We’re expanding the pool of lawyers, but that also introduces changes and affects standardization Frequent language changes cause labor intensive reviews 6
Too Much Risk in Contracting XX% of contracts get contested XX% of deal value slips due to contractual issues (poor approval processes, protracted negotiations) XX% of contracts expire without notice XX% of contracts can not be easily reviewed/audited XX% of contracts are questionable in terms of compliance 7 INSTRUCTIONS: 1. Remove the risk elements that don’t apply, leave the others even if exact percentages are not immediately known. 2. Enter the risk percentages or estimated percentage range and delete this header bar when finalized.
Value to Us INSTRUCTIONS: 1. Replace the contents of this slide with your own value calculations. We’ve place some charts and tables that are representative of typical savings industry analyst associate with contract lifecycle management solutions. 2. If you want to use our detailed Excel calculator to determine value, let us know! Contact email@example.com@apttus.com 3. Remove this header box once you’ve added your estimated value summary chart. 9
Getting Started / Next Steps These are suggested stages for contract management implementation. Revise where appropriate. Continued Development Identify “what works” and “what doesn't” Expand clause and templates as needed Extend to other offices and locations Create advanced workflows and approvals to further refine your contracting process Contract Management Strategy Development Select and implement contract management solution Develop legal playbook, template and clause library Identify and migrate existing contracts Initial Assessment Identify current contract processes that work and identify areas for improvement Begin evaluating contract lifecycle management software Develop a list of features and requirements (e.g., solution must work on the Salesforce1 cloud) 0 6 months STAGE 1STAGE 2STAGE 3 10
Built on Salesforce1, the most secure and reliable cloud platform Point-and-click modeling keeps up with your changing business and contracts Full capabilities for the entire contract lifecycle – from contract authoring to compliance Advanced usability makes it easy to use standard legal language across all contracts by just using Microsoft Word Contract Management