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CLM for Procurement: 4 Must-Haves to Improve Collaboration with Legal

When organizations grow, supplier and resource agreement volume follows close behind, putting Procurement in a contracting bind with limited visibility into contract status. It’s no secret that the modern-day Procurement team needs a central, searchable contract repository, but as organizations grow, they also need a modern and accessible Contract Lifecycle Management (CLM) solution to bring consistency to buy-side contracting and improve collaboration with Legal.

To explore this topic, we are joined by Join Nick Heinzmann from Spend Matters.

Key features & questions explored:

19:41 Contract Templates: Where do Procurement teams see the most volume on the contracting spectrum? How can templates be used to outline these transactions at a high level with room for customization as needed?

Legal Workflows: How can a modern CLM empower Procurement teams to create standardized approval workflows for each agreement type?

Clause Library: How can Procurement teams bring contract playbooks to life by using pre-approved fallback language from Legal?

ERP Integrations such as Coupa: How can Procurement teams unite spend and contract management data with productized integrations?