What is Your Contract Lifecycle Management (CLM) Persona? Understand Your Requirements to Find the Best Technology Provider [PRO]

AdobeStock/Bruce Shippee

No two contracts are alike, nor are organizations’ requirements for managing those contracts. It stands to reason then that there’s no single contract management application that will magically meet all procurement organizations better than another. This philosophy underpins our approach to the Spend Matters SolutionMap, a comparative analytical framework for practitioners to evaluate relevant solutions to meet their needs.

Our SolutionMap approach depicts vendor rankings based on specific buyer personas to reflect the unique value proposition, solution strategy and customer segments served by that provider. Participating vendors are scored both on their Solution Value, which is technology based in this case, as well as on Customer Value, based on in-depth tech reviews (including deep dive demonstrations) by the Spend Matters analyst team and aggregated from direct customer feedback. Each SolutionMap is updated quarterly rather than in 12-month (or longer) cycles, to accurately reflect the pace of market developments.

As part of the first release of the contract lifecycle management (CLM) SolutionMap, the Spend Matters analyst team has developed unique organizational personas that we’ve most often seen in our decades of experience working with procurement organizations. We have used these personas to customize the weightings of the requirements that we used in the weighting of solution scoring (which is graphically depicted as the y-axis SolutionMap) and also of customer satisfaction scoring (the x-axis) by end user organizations.

Having collected feedback from hundreds of CLM users, vendors and consultants in recent months as part of our SolutionMap research, we developed these personas to serve as useful starting points for procurement organizations to classify themselves and help them gain more insightful solution rankings of providers in the market. As in some other areas, baseline functionality is fairly undifferentiated. All the providers will have decent support for contract clauses, templates, amendments, version/change control, access control, audit trails, file attachments, flexible workflow engines, role-based dashboards, modern IaaS infrastructure and partnerships with popular digital signature vendors.

As such, this Spend Matters PRO analysis describes the CLM-focused requirements from these personas that differentiate the relevant solutions in the market. For each persona, we include full definitions, typical organizational priorities (based on each persona), functional/solution, and customer value emphasis and recommended selection processes. Comparative vendor rankings will be published for each persona next week on Spend Matters and updated quarterly.

For full access to this PRO content: