Contract Lifecycle Management 101: Part 4 – The Traditional Solutions [Plus+]

Traditional tools

So far in our contract lifecycle management (CLM) series, we have discussed how the process can generate truly exceptional results when implemented correctly, and we have introduced a “wheel” framework that defined the processes and requirements for a core platform needed to support the end-to-end contract lifecycle in a modern supply management organization. In our last post, we provided a review of the solution space in an effort to understand what types of solutions were historically required in support of the CLM process. This understanding is important because no current solution supports the full CLM process well – as defined in our framework – on the buy-side and within a broader enterprise context. In this post, we will map each of the relevant components included in core buy-side technologies to the CLM framework because it helps one understand not only how these solutions support CLM, but how a specific CLM tool often needs to hook into this technology.

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