Contract Lifecycle Management Software: Why It’s Critical for B2B

Well, every B2B require some official contracts at the time of initiation and after execution or we can say during the overall running time of the business. But the question is, Is it really easy to do so?

contract lifecycle management software

The answer is a big NO!

When there are B2B deals, there is not only signing a document at the beginning and during handing over the final project to the client. There are so many things are involved such as obligation tracking, performance and compliance management, and dispute resolutions.

So we must need something which can handle all this stuff so that everything goes smoothly. So we looked around the internet and found Contract Lifecycle Management (CLM) software.

What should we expect from CLM software?

Since there is a number of Contract Lifecycle Management software available in the market, Never a good option to pick anyone randomly. So we decided to brief you the features what CLM software must have and at the end, we would suggest our choice.

1.Monitoring & Tracking the process: This is one of the most important parts. CLM software must have the capability to monitor and track the process at every stage. This better improves efficiency by exactly getting the optimization details of the work being done.

2. Regular reporting of the completion of the tasks: Analytics are always helpful in every task therefore, CLM software must be capable to provide regular reporting of daily tasks. This is beneficial for internal and relevant external parties to exactly know the performance.

3. Must comply with standards and regulations: There are always certain terms and conditions you meet prior to the project and during executions. Certain government laws, company policies are there to meet set standards at every level of the work done. Manually taking care of all such things can be complex and moreover human may make negligence in some sort of work. If we have CLM, no issue with meeting the standards and regulations.

4. Notifications and Alerts:

When executing a project, there is an optimum time period at every stage, expiration date, delivery time, renewal dates. It must all be handle on CLM software itself without any extra add-ons.

5. Manage entire lifecycle:

Now everything is getting digitalized and similarly, one must expect every B2B must be digitally done from the pre-execution to the post-execution. The 2 most important aspects of Digital working is e-Sign and cloud-based working.

Apart from all these, there are certain other features which are generally available in all provided software in CLM category.

So what is our choice if we go for CLM software?

We have made a decision by not looking to just features, but also with pricing, Use Experience, Performance, and many other parameters.

Parley Pro is our recommendation if you are looking for one of the best Contract Lifecycle Management software.

Why Parley Pro is our top choice?

It has many pre-approved templates in different sectors such as Legal, Finance, Procurement and ultimately speeds up the contract process.

parley pro

Since all the team works on the same platform, it is easy to navigate the error by any team member. Everyone can review and add suggestions and comments so that no individual searches for the existence of the errors.

There is a real-time contract negotiation with the counterparty in order to understand the project and negotiate at the same time. The responsive action really helps in getting better deals.

The very unique formula of automated contract approval gives you the balance between the work done and the approval. This helps in transferring the document to the eSign to complete the agreement.

Parley Pro gives you the best in the class interface to analyze every data to optimize work. You can check the milestone achieved, activities, reports, negotiations, deadlines, anytime during the cycle.

There are many other countless features available in Parley Pro that scale the productivity exponentially.

So why to wait now. Try out the free demo from Parley Pro. (For both medium and large scale industries).

Also Read: Best Work from home Apps to boost productivity