Our 5 Success Factors for Contract Management Implementation

03 Mar, 2022

Companies not only struggle to select the right CLM system, but also face the challenge of carrying out a company-wide CLM implementation plan to drive full contract value.

Gartner predicts that by 2024, 50% of first-time CLM implementations will fail to deliver the expected outcome.

The three main reasons for implementation failures of CLM solutions are:

  • Limited of buy-in and adoption due to lack of training, interest or know-how
  • Missing functionalities of CLM systems that companies need
  • Unforeseen shifts in priorities or processes to which the CLM system cannot adjust

The contract management team of Sourcing Champions together with Simplicontract’s AI-solution help ensure these scenario’s do not happen due to our 5 success factors for CLM implementation.  The contract and software experts work together to shape SimpliContract’s  solution to your company’s needs.

Through Sourcing Champion’s project management we deliver hands-on and highly experienced implementation support ensuring fast deployment in less than 3 months. By way of user training sessions with our contract managers, legal experts and procurement experts, we ensure the best possible user adoption rates of CLM.

The combination of Sourcing Champions’ high-touch success management with SimpliContract’s user-friendly solution enables the complete contracting process for your company.

SimpliContract has entered the fourth stage of their product maturity, a stage in which AI-integration, company-wide collaboration and the best contract compliance are met.

The fourth maturity stage transforms the software from a standard contract repository system to a highly digital collaborative workspace supported by AI-integration. Allowing your procurement, sales and legal team to work together and understand the full functionalities SimpliContract has to offer.

Through SimpliContract’s intelligent CLM solution you gain 360-degree contract insights. With Natural Language Processing and Optical Character Recognition SimpliContract ensures you attain quick and accurate contract view, metadata searchability and obligation extraction for full contract control.