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Go Beyond Contract Management

With unmatched technology and category-defining innovation, Icertis pushes the boundaries of what’s possible with contract lifecycle management (CLM). The AI-powered, analyst-validated Icertis Contract Intelligence (ICI) platform turns contracts from static documents into strategic advantage by structuring and connecting the critical contract information that defines how an organization runs.

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Myth: CLM Belongs to Legal

June 6, 2023
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CLM process
contracts
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While contracts are legal documents, their impact extends beyond the legal department. Contract transformation should involve other departments because contracts define relationships that belong to the entire business. Whether it’s purchasing, selling, or hiring, contractual obligations affect multiple departments. For example, security and risk teams have a vested interest in contract negotiations due to the implications for data protection and risk management.

Additionally, the teams involved in contract management may include direct contributors and those who benefit from the data and insights derived from contracts. As organizations break down functional silos, there is a growing understanding of how legal and financial commitments influence various areas of the business. Therefore, involving other departments in contract transformation is crucial for a holistic and integrated approach.

Recent Episodes

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Crawl Walk Run

For legal department operations professionals embarking on their journey of collecting contract data and improving business through contract data, it’s important to approach it with a crawl-walk-run mentality. In the crawl phase, focus on establishing a baseline landscape of contracting activity by analyzing contract volumes, types of templates used, business units involved, and […]

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The Intersection of Data and Technology

Technology serves as a producer of data, and data plays a crucial role in driving change, whether it’s operational or behavioral. To achieve operational improvements, it’s essential to assess how technology adoption is enhancing efficiency. On the other hand, driving behavioral change requires leveraging data to demonstrate the value derived from implementing effective […]

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Technology Investments From Businesses

The introduction of new technologies with the potential to transform work processes and business transactions always garners significant investment and interest from various stakeholders, including CIOs, CTOs, sales teams, procurement departments, and the overall business.