Myth: CLM Is Difficult

 

 

The belief that Contract Lifecycle Management (CLM) is too difficult to implement is unfounded, much like claiming that managing risk and compliance or handling finance is too complex. Businesses are inherently complex due to various factors such as global connections, innovation, and digitalization. Waiting for contracts to become simpler is not a viable solution. Instead, it’s crucial to understand what aspects of the process can be automated and have a clear understanding of the desired outcomes. Implementing technology alone is not a magic fix; practical considerations such as having defined processes, identifying low-hanging fruit for automation, securing executive support, and allocating the necessary resources are essential. Without a holistic support system encompassing people, processes, budget, and executive buy-in, leveraging technology becomes challenging. CLM implementation requires a well-thought-out approach and ongoing management to ensure success.

Recent Episodes

As organizations face mounting pressure to modernize legacy processes, legal departments are transforming into broader strategic partners. At the intersection of digital transformation and legal innovation lies contract lifecycle management (CLM), a function increasingly viewed as a business-critical discipline. According to a McKinsey report, companies that optimize CLM processes can reduce contracting cycle times by…

As the complexity of federal contracting deepens with each new regulation, executive order, or technology shift, agencies are searching for clarity and cohesion. With AI and digital transformation taking center stage across public and private sectors alike, the stakes have never been higher—especially when it comes to making taxpayer dollars count. According to the U.S….

As AI reshapes enterprise operations, one of the most overlooked assets in digital transformation is a company’s contract history. These “heritage” agreements, once deemed outdated or archival, are now emerging as a goldmine of operational insight—especially when powered by AI-driven contract lifecycle management (CLM) tools. With nearly 60% of executives believing that contract data is…