How to choose the right Contract Lifecycle Management platform?
A recent whitepaper from the Liquid Legal Institute provides answers
Even legal departments of medium-sized companies often manage tens of thousands of contracts. Digital Contract Lifecycle Management is an essential function of a modern legal department. But how does one choose the right platform?
The whitepaper Contract Lifecycle Management – How to select the right platform? published by the Liquid Legal Institute e.V. leads through the demanding process of identifying the right CLM solution.
"Our whitepaper is meant to be a practical guide in CLM vendor selection and is intended for anyone tasked with selecting a CLM platform." - Klaus Gresbrand, Publisher
Emphasis is placed on presenting the various functional and technical dimensions of common CLM solutions. Numerous questions ("food for thought") on each topic area help determine the appropriate tailoring of a CLM solution for one's own organization.
This is followed by a description of the typical vendor selection process. Practical tips help to develop realistic expectations towards vendors and avoid typical mistakes in the selection process.
Interviews on the subject of CLM vendor selection with representatives of companies of various sizes round off the whitepaper.
The whitepaper, published under a Creative Commons license, can be downloaded free of charge from the Liquid Legal Institute e.V. website.
Published: July 2021
„Contract Lifecycle Management – How to select the right platform?”Download