Are You Maximizing the Value of Your Contracts?
As your contract management capabilities grow, you’ll experience dramatic improvements in speed and efficiency. Answer these 10 questions to determine your current contract maturity stage.
- Basic
- Intermediate
- Automated
- Integrated
- Optimized
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Yes
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No
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Basic
CURRENT CAPABILITIES
Contracts are created using spreadsheets or word documents, and stored in one or more simple repositories across the enterprise.
COMMON ISSUES
Contract management is a 100% manual process. Lacking standardization or any kind of meaningful controls, the system wastes time, money and resources, while exposing the enterprise to unnecessary risk.
UPGRADE TO INTERMEDIATE TO
Add search and other functionalities to benefit from improved efficiency.
Intermediate
CURRENT CAPABILITIES
Ability to identify duplicates, conflicts, obligations and rights with reports that are tied to transaction systems.
COMMON ISSUES
Although some controls are in place, the contract management process isn’t fully automated across all the steps, from authoring to optimization.
UPGRADE TO AUTOMATED TO
Add automation features to improve usability and realize significant productivity gains.
Automated
CURRENT CAPABILITIES
Simple workflow controls provide an ability to author contracts in compliance with legal standards and corporate guidelines.
COMMON ISSUES
Limited integration restricts the visibility into the process, making it difficult to identify areas for improvement.
UPGRADE TO INTEGRATED TO
Add detailed analytics to gain insights into every aspect of contract performance, make informed decisions and identify areas for improvement.
Integrated
CURRENT CAPABILITIES
More complete and effective compliance controls with contractual benefits and commitments.
COMMON ISSUES
Though the functionality is robust, the contract management system doesn’t scale across the entire global enterprise.
UPGRADE TO OPTIMIZED TO
Add the ability to adapt to changing business conditions, and receive the maximum business value from every contractual relationship.
Optimized
IT LOOKS LIKE YOU’RE ALREADY AN ICERTIS CUSTOMER!
You have full visibility and control over the entire process, from authoring and renewals to administration and optimization.
You have full integration into supply chain and revenue management systems, with the ability to make changes easily.
You can manage any type of contract, anywhere in the world, from one platform.
Icertis Remains a Leader in the Q1 2021 Forrester Wave
Download the Forrester Wave and connect with Icertis to learn:
- Why CLM has emerged as a must-have technology for companies to respond in real-time to new challenges and opportunities
- How leading CLM solutions are moving beyond content creation tasks to become the C-suite system of record for organization-wide obligations and entitlements
- How Icertis is leveraging its category-defining innovation to connect contracts to the systems and processes they touch and ensure the intent of every contract is fully realized
