Solutions
Boost your productivity with data driven CLM solutions.
Contract Life Cycle Management (CLM) is an essential part of all business & commerce. Organizations are adopting CLM solutions in order to be more data-driven on their contractual expenditures, and to reduce, eliminate , or mitigate financial, legal and procurement risks. CLM solutions provide value to organizations in a number of ways, such as capabilities to:
- Automate and streamline various phases of the Contract Process
- Strengthen operational, contractual, and regulatory compliance
- Build strong relationships amongst Buyers, Suppliers, Legal teams, etc
- Bring transparency among all stakeholders of Contracts with digitization
- Lever data-driven insights of an End-to-End Contract Process
Benefits of CLM solutions
- Self-service contract creation to minimize the dependency among teams
- Single source of truth for all contract documents via Contract Repository
- Real-time collaboration among multiple teams for a faster contract turnaround
- Pre-approved Templates and clauses libraries to maintain standardization among contracts
- Versions control and comparison tool to easily track contract negotiations
- Automated approvals triggered by predefined conditions to reduce compliance risk
- Integration with E-signature tools to digitize the signature process
- Analytics and reporting capabilities to have a global view on all your contracts
AIML in Contract Lifecycle Management (CLM)
Artificial intelligence and Machine Learning are catalysts for the CLM Digital Transformation. Almost 9 out of 10 CIOs are using or planning to use AIML in IT infrastructure. CLM systems are also rapidly adopting the AIML features in their solutions to achieve contract data extraction from third-party paper contracts, AI-based contract obligation management, robust AI-infused Negotiations, etc. to reduce risk and improve contract visibility.
Our Partner
“AI and ML of contract solutions will reduce the dependency of the legal team in the contract creation, renewal, amendments, etc. processes by 90%”
Why ThoughtStorm
Proven Experience in CLM Solutions
We have years of experience in Contract Management solutions, helping customers to identify industry-specific key bottlenecks of complex contract business processes and providing tailor-made solutions based on the best industry practices to achieve their goals and values.
Organizational Change Management
We have well-defined change management processes ease the transition and boost adoption between the legacy systems & new CLM platforms.
CLM Certified Team
We have Certified resources who are experts in multiple CLM platforms to provide solutions to growth, mid and large-size companies.