Taking proactive steps to avoid common CLM implementation pitfalls and create a simple, reliable workflow is critical to maximizing contract value. In this blog, we’ll gather CLM implementation tips from our team and our friends at Deloitte. We’ll us contact number list recommend steps to take to ensure CLM provides legal professionals with better control over the contract lifecycle and delivers ROI.
Five basic steps to drive a successful CLM implementation
Our colleagues at Deloitte are experts at planning and executing CLM implementation . Here are five core principles they share to give your team the best chance of a successful transformation.
1. Start by improving processes and define a clear strategy
Adopting a CLM tool is a great opportunity to completely re-do your end-to-end contract workflow. Don’t just re-code your current system and configure the CLM to mirror the disjointed system it replaces. Instead, honestly assess your team’s not only humanizes the creator but performance on deal tasks and design something new that maximizes visibility and reduces manual back-and-forth. Design your CLM as a means to realize your future, not as a copy of your past and present.
2. Correct your data
CLM tools are technology, which means they rely on data to function properly. Better data in your CLM tool means better results. Before you upload contracts to the new CLM, clean up your contract library. Make decisions about which agreements should be included and excluded in that database. Remove duplicate contracts. Think about ways to use AI or other data to simplify the migration.
3. Select the right technology
Once you have a plan for your desired CLM outcomes and have your contract data ready, it’s time to choose a vendor to help you get there. Docusign CLM has been a leader in Gartner’s Magic Quadrant for CLM for four years and has a long track record of successful implementations in organizations of all sizes and industries.
4. Start small and take a gradual approach
It’s important to realize that adopting a CLM isn’t a simple on/off switch. It involves completely qatar data changing the status quo regarding processes, data, content, and people. It’s unlikely that all of those pieces will be equally ready for change at the beginning of your CLM journey. To help your team achieve its goals, start with one small piece that has the highest chance of success. Maybe it’s contract generation or search. Once you’ve scored a win, you can slowly scale up until you’ve completed the end-to-end transformation.
5. Manage change
The most critical piece of CLM adoption is the people who use the technology every day. Your CLM implementation plan should start with an empathetic understanding of the work employees do every day to get things done and deliver real value to them. Provide hands-on training. Make their daily work easier or faster. Design the new technology to take work off their to-do list. Share the big picture with them and make sure they understand their role in it. Every technological change
Signs that your CLM implementation is working as intended
Once your team has put their CLM implementation plan in place, you’ll start to notice some specific improvements that are signposts along your transformation journey. The first thing you’ll notice is an overall acceleration of business velocity. Your sales cycles will shorten, your deals will resolve faster, and your organization will get revenue from deals sooner. Whatever problematic steps come to mind when you think about your deal process, CLM can help you solve the problems and increase operational speed.