Recent innovations in the world of CLM have paved the way for new and exciting opportunities. The companies deploying CLM solutions not only enjoy a simpler and highly efficient contract management process but are also able to generate great savings.
While there is no doubt about the many benefits implementing a CLM Software brings, quantifying its returns is the tricky part.
A CLM’s ROI can be determined based on parameters such as:
- Reduction in legal employee costs
- Prevention of financial losses
- Reduction in sales operation costs
- Management of renewable contracts
- Penalty avoidance and/or recapture
- Identification of consolidation opportunities
Zycus recently hosted a webinar in association with IACCM (International Association for Contract and Commercial Management) on this subject. The webinar presents a detailed and stepwise breakdown on how to determine quantifiable returns from CLM for an organization.