Contract Life Cycle Management (CLM)
- Solutions to back office content challenges now have options other than a custom solution on an Enterprise Content Management platform. Contract Life Cycle Management (CLM) is a growing ecosystem with various solutions vendors.
- It’s not only customers and analysts that are buying the vision of CLM but also outside capital. Of the companies listed; 3 are Publically traded, 2 have Pending IPOs and 5 are Venture Funded Companies
- The decision for corporate counsel is no longer limited on to which ECM platform to build a custom solution. Instead the question is to Configure a CLM solution to fit their needs or to build a custom solution on a ECM platform.
- There are many out-of-the-box CLM solutions with varying levels of features. No longer are solutions limited to a tickler with some basic drafting (content authoring). Some CLM solutions get much closer to what ECM can support with features like electronic signatures, workflows, and templates and clause libraries (compound documents). However, only a handful support records management.
List of CLM vendors identified: