Less paperwork and more control: Automate your SME contracts with this guide on CLM systems
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Managing contracts manually in an SME can be a lengthy and error-prone process. This is where CLM systems (Contract Lifecycle Management) come into play.
These tools automate the entire lifecycle of a contract, from its creation to its renewal or termination. In this article, we share a guide so you can implement it, whether you are an SME dedicated to B2B or B2C sales. Keep reading!
What is a CLM and how does it work?
A CLM (Contract Lifecycle Management) is a technological solution that manages the entire lifecycle of contracts in an organization, from their creation and negotiation to their signing, renewal, and archiving. Its functionality includes:
- Creation of contracts with standardized templates.
- Collaboration and editing between internal and external parties.
- Automated approvals based on workflows.
- Electronic signing with integrated tools like DocuSign or Adobe Sign.
- Compliance tracking, expiration alerts, and renewals.
- Centralized storage with search and version control.
Use cases: What contracts can you automate with a CLM
A CLM can automate various common types of contracts in an SME, such as:
- Sales contracts (agreements with clients).
- Purchase and supplier contracts.
- Employment and freelance contracts.
- Non-disclosure agreements (NDA).
- Leases or usage licenses.
- Distribution or commercial collaboration agreements.
Advantages of implementing a CLM in your SME
- Time-saving: Automates repetitive tasks and reduces the approval cycle.
- Fewer errors and risks: Standardized templates and workflows prevent legal omissions.
- Guaranteed compliance: Reminders for renewals and legal alerts.
- Total visibility: Centralizes all contracts in one place with history and traceability.
- Greater collaboration: Allows departments or clients to work digitally.
- Scalability: Grows with your business without the need for additional manual processes.
Guide to implementing a CLM in your SME
- Assess your needs:
- What types of contracts do you handle?
- Who manages and approves them?
- How many contracts do you produce per month?
- Define approval workflows: Establish who creates, reviews, approves, and signs each type of contract.
- Choose a suitable CLM platform: Some affordable options for SMEs: Contractbook, PandaDoc, Juro, DocuSign CLM, Agiloft.
- Digitalize your templates: Use base models for repetitive contracts and standardize clauses.
- Train your team: Ensure everyone knows how to create, edit, and manage contracts in the system.
- Integrate with other tools: CRM, ERP, or electronic signature tools for a seamless flow.
- Measure and adjust: Evaluate performance (times, errors, compliance) and adjust processes based on results.
Implementing a CLM system in your SME not only improves contract management efficiency but also reduces legal risks, optimizes time, and allows you to grow with safer and automated processes. A CLM can transform your way of working.
Ready to digitize and simplify contract management? Access the contents of the Acelera Pyme Platform and explore our guides and tools to find the ideal solution for your SME!
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