The Contract Lifecycle Management (CLM) landscape is maturing rapidly and shifting from static document management to a dynamic transactional system that can tightly integrate with other key enterprise transactional components, such as CRM, CPQ, Billing, and Revenue Recognition. Progressive organizations today see CLM’s role as more holistic with critical impact across supply chain, procurement, purchasing, sales, support, field service, billing, revenue recognition, order management, HR, finance, compliance, legal, and R&D, among other areas.
Key advances in CLM functionality are propelling CLM into becoming a recognized enterprise system of record. The growth in CLM adoption is fueled by digital transformation and a refocusing of technology investment away from traditional ERP/Financials suites towards automating and digitally instrumenting key processes. Organizations that take advantage of these new capabilities will achieve breakthroughs in their ability to integrate key processes across finance, sales, manufacturing, compliance, and risk management.
This research note defines the Six Stage CLM Capability Model and explores the shift from a document-focused to a data-centric CLM.
The Contract Lifecycle Management (CLM) research practice provides business and finance executives an unmatched combination of user insights, market data, vendor analysis, and confidential advisory services. Backed by the MGI 360 Ratings and MGI Market Forecasts, we are the only firm to issue independent, quantitative ratings of CLM solution providers and sizing of the CLM market. Below are examples of key issues we address for our clients.
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CLM is no longer a back-office discipline. With integration into the rest of the enterprise ecosystem, it is becoming critical in affecting many key front-office functions such as sales, support, and customer retention. The CLM landscape is continuously evolving and thus challenging to navigate when critical decisions that impact the future performance of the business need to be made.
How large is the CLM market? Every CEO and CMO faces this question from investors, boards of directors, and even potential new hires. The answer to this question can have a nonlinear impact on a company’s ability to raise money, size budgets, and determine sales territories.
A major shift is taking place in CLM, away from a document orientation and towards a focus on dynamic data. This webinar will cover key issues such as how users and vendors should benchmark their CLM maturity.
By accessing the power of MGI Research resources, clients get a comprehensive view of the market that includes enterprise best practices, quantitative research, and analysis of all the billing and business applications vendors as well as the collective experience of the MGI analyst team that brings decades of enterprise experience. Our research is updated continuously, and clients have unlimited, direct access to our analyst team.Learn More