What is Contract Lifecycle Management (CLM)?

It's the way to centralize contract storage, strengthen compliance, and automate the creation, execution, and management of any type of contractual agreement.

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.

Contract management software bridges every contract phase – from initiation through contract renewal.

Image used on ariba.com page about contract lifecycle management
Image used on ariba.com page about contract lifecycle management

Quicker, more accurate contracts

Contract lifecycle management solutions help legal, finance, procurement, and sales professionals expedite contract management processes by leveraging sourcing and supplier information more efficiently. By storing bids, supplier data, negotiated prices, and contract terms in a central digital repository, companies sign contracts faster, gain trust sooner, and maintain visibility into how agreements impact the bottom line.

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

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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.

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Discover qualified suppliers, speed up your sourcing cycles, and create the most competitive, best-value agreements for sustainable savings with all your sourcing needs.

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