Contract Lifecycle Management 101: Part 5 – The Core CM Solution [Plus+]

PaaS

Today we continue our multi-part Plus series on contract lifecycle management (CLM), an uninspired acronym that sometimes encapsulates, sometimes complements, the source-to-settle (S2S) or source-to-Pay (S2P) process, which when properly implemented can generate quite attractive results. So far, we have introduced CLM in depth, defined the “CLM wheel” and reviewed the solution space to try and understand which solutions were typically required to support the full CLM process from an end-to-end procurement perspective, as no current solution supports the full buy-side process, in our view. We also followed this solution space review with a detailed review of the core solutions that were historically used to implement a full end-to-end solution, when strategically sourcing a high-value category.

Now that we understand where traditional procurement solutions have been used with respect to full CLM and a number of the capabilities a true CLM platform is required to possess, we can discuss the core must-have level 1 requirements. In this post, we point out these must-have capabilities that every contract management platform needs to bring at least some value to your organization and where they fit on the CLM wheel.

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