Guides & Opinions
Modernize the External Elements of the Contract Management Process: Contract Lifecycle
Management Adjacent Technologies
Today, most organizations manage contracts and records with associated correspondence using
standard email, fax,
scanners, and records management tools, having developed their own processes for
organization and efficiency. Some rely
on Contract Lifecycle Management (CLM) systems which offer a platform to manage tasks,
standard terms, approvals, and
associated contract records. Whether an organization uses standard email and document
management programs or one of a
number of CLM platforms, there are a number of functions that occur adjacent to these
systems. If one was to move these
to electronic form with robust tools, and implement with automation, one should enjoy
significant new administrative
efficiencies, cost savings, contract preparation cycle time reduction, and legal spend and
litigation risk reduction.
Some of these technologies are familiar – electronic signature services for contract
execution, Registered Email
messages for notices, PDF forms automation – but many have hesitated to deploy for lack of
understanding around the
legal aspects or implementation simplicity. This user guide takes a practical approach to
demonstrating technologies
that may be run within (i.e. operated within the user interface of) desktop or mobile
messaging systems, enterprise
resource management (ERP) systems, customer relationship management (CRM) systems, and with
CLM systems. Essentially,
these tools can be operated within any system that has an email send function without any
technical integration. The
tools reviewed in this Guide present the contract manager with the opportunity to
demonstrate early success with a
quantifiable return on investment in contract management modernization efforts. This Guide
presents best practice
technology tools, tips, and a legal framework for conducting these processes with robust
electronic methods that can be
implemented in minutes within any CLM, CRM, ERP or email platform in minutes, without IT
support.
