Contract Version
Contract versioning is the process of managing different versions of a contract to ensure that parties are reviewing, negotiating, and signing the right copy. Contact version control is important because working on the wrong version of a contract can result in confusion and contractual disputes. Having a CLM in place can help keep contract versions in one centralized place.
Corporate Legal Operations Consortium (CLOC)
The Corporate Legal Operations Consortium (CLOC) is a global community of experts focused on redefining the business of law. By helping legal operations professionals collaborate with each other and with other industry players, including law firms, technology providers, and law schools, CLOC works to help set industry standards and practices for the profession.
Cost Control
Cost control refers to the management and monitoring of expenses associated with contracts. It involves strategies and measures to ensure that costs remain within budgeted limits and align with organizational goals.
Cost-plus Contracts
Cost-plus contracts are agreements where the buyer agrees to reimburse the seller for the costs incurred, along with an additional agreed-upon fee or percentage. These contracts are often used when the total project costs are uncertain.
Coupa Integration
Coupa integration is the seamless connection and interoperability between the CLM system and Coupa, a platform for business spend management. Integration streamlines procurement processes and enhances overall efficiency.
Customer Experience
Customer experience encompasses the overall satisfaction and perception of customers during their interactions with the contract management process. It involves user-friendly interfaces, efficient workflows, and positive engagement.
Customer Relationship Management (CRM) Software
Customer Relationship Management (CRM) refers to software technology and strategies to manage and nurture relationships with customers throughout the contract lifecycle. It includes tools for tracking customer interactions, preferences, and feedback. Many organizations implement CLM solutions and integrate to leading providers like Salesforce, Microsoft Dynamics, Hubspot, and Veeva.
Customer Stories
Customer stories are narratives or testimonials that showcase positive experiences and outcomes of customers using the CLM system. They serve as examples of successful implementations and highlight the value of the solution.