IACCM Contract Management Forum

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Appian Corporation
2017-06-12 14:35:49

Research on CLM Software- can anyone share their research/comparisons?

Hi all- I'm in the early phases of researching CLM software solutions, and wonder if anyone has done a comparison of offered solutions and can offer that research? I have visions of a spreadsheet showing the various options/capabilities of solutions.... it would be great if someone has done the legwork and wouldn't mind sharing?

Thanks in advance!

And I'm looking forward to seeing many of you in Toronto at the annual Americas conference.
 •   2017-06-13 14:27:16
Hi Eileen, happy to share some evaluation work we did with one of the big 4 consultancy firms here in the UK. Essentially the evaluation was based on the idea of core CLM and its functionality, not being able to capture in real time through dashboards how a contract is performing, and how you could capture contract specific data from IoT sensors, mobile devices and tablets and to what extent this could then drive operational performance of those contracts during their lifetime. We are contract data specialists and have built a data driven contract intelligence platform but the work was based on experiences working with complex contracts in global supply chains and is a relatively good read
 •  Seal Contract Discovery & Analytics  •   2017-07-06 15:58:55
Hi Eileen, have you heard of Seal Software? Seal can find and centrilize all your contracts for you, bringing them all together in one repository. It can then analyse and extract necessary information and key terms from the document, identify standard and non standard clauses, and alert you to important information such as contract end dates. See www.seal-software.com for some more info or give us a call on 1 650 938 7325 if you want to learn more. Good luck in your search!
 •  Nexen Energy ULC  •   2017-08-19 19:34:08

When you go to the conference you will be able to talk with a lot of the software providers. You will find that they specialize in various aspects of contracting. Sorry providers but, Eileen, remember you are talking to sales people.

Over the course of my career (I'm now semi-retired) I have selected, configured and implemented 5 software CM systems. Picking your system provider is no different than picking any other contractor/vendor for your company. The difficulty for a lot of CM people in this particular process is they have trouble taking on the usual client role. What is your scope of work/services you want. In my last system acquisition we spent 3 months developing our needs criteria. We wound up with over 250 system requirements and developed 9 application cases. We evaluated what we're wants and what we're musts. These musts (~15) formed the basis of our EOI/RFI which we sent out to ~22 system providers. The results of this gave us a bidders slate of 8 system providers. For our RFX we also had 22 process flows done.
One very important question for your company ...... do you want your processes to change to what the system will do or do you want the system to be configurable to your processes? Very key question.
If you want to know more let me know.

 •  ANZ Bank  •   2018-10-17 22:48:49
Eileen, Hi there. Did you manage to get your spreadsheet? If so I would be keen to see, or hear from you as to your experience. Matt
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