Steps to choose the best-fit contract lifecycle management tool for your enterprise
The objective of contract management technology evaluation is to find a solution that fits the need of your business. Firstly, the legal team much define the proper parameters to include in the preliminary evaluation of different vendors.
Common steps adopted by companies to execute the screening process are:
- Explore latest innovations on the market by exploring tech forums such as Gartner Peer Insights or attending legal-focused conferences such ACC and WCC.
- Take the advice of industry analyst firms and look into their existing reports such as Forrester Wave™ Contract Lifecycle Management.
What’s inside this ready-to-use Excel scoring template?
- Relevant features to assess contract management RFPs objectively
- Ability to assign feature weightages based on requirements
- Automated scoring of vendors based on their ability to meet requirements
Why you should use this template?
- Compare vendor RFPs across a comprehensive list of features
- Prioritize must-have vs. good-to-have features
- Zero-in on a vendor based on their ability to meet features
- Make a business case to your stakeholders
