Contract lifecycle management overview
Contract lifecycle management (CLM) automates and streamlines contract processes during key stages. These stages include: initiation, authoring, process and workflow, negotiation and approval, execution, ongoing management and compliance (within the repository), and contract renewal.
By creating a common language, core templates, unified terms, and repeatable, consistent conditions buyers and suppliers save time and reduce errors. Most contract management software is designed to provide greater visibility into corporate spend, create greater efficiencies in the contract process, and lower administrative costs. This is accomplished by:
Managing procurement and sales contracts, IP licenses, and internal agreements
Automating and accelerating contract lifecycle management from start to finish
Standardizing and controlling contract development
Strengthening operational, contractual, and regulatory compliance
Creating contracts quickly and easily using pre-approved templates and legal clauses.
Eliminate paper and ink from contracting
Create an easy-to-use, central repository for every contract.
Integrate contract processes with third-party systems
Control non-standard agreements through modification alerts
Lower total cost of ownership (TCO)
Gain greater visibility with dashboards and configurable reports
Receive notifications of the key milestone dates for your supplier contracts
Eliminate the time and expense of shipping and signing multiple contract copies with e-signature
Strengthen compliance with controlled processes, automated tracking, and a full audit trail
SAP Ariba Contract Lifecycle Management Software and Solutions
SAP Ariba Contracts
Speed up contract cycles by 50% and reduce administrative and legal costs by up to 30% when you rid yourself of the paper and ink.SAP Ariba Contracts
Electronic Signature Software
Go ink- and paper-free with an electronic signature, and watch your savings, revenue, and productivity grow.Learn more
Discover qualified suppliers, speed up your sourcing cycles, and create the most competitive, best-value agreements for sustainable savings with all your sourcing needs.Strategic Sourcing