Every (business) relationship begins with a contract.
But between the commercial proposal and the signature of the contract, the time can be long... And for good reason, many actions are required from various parties. From the salesperson to the lawyer, including the purchasing manager, the contract passes through several hands. Without clear, established processes and the right software, contracting goes on indefinitely.
In this article, we give you 7 reasons to adopt a SaaS-based CLM software.
SaaS CLM software: an effective way to streamline and accelerate your legal processes
The contract management software offers multiple functionalities. Among them, the summary sheet, which provides quick access to all the key elements of the contracts. And it is precisely this type of functionality that speeds up legal processes. Here are all the advantages of a CLM in SaaS mode.
1) Better collaboration between all teams 🗣️
Smoother collaboration between the various divisions of a company is one of the key advantages of SaaS. When a contract is signed, many parties are involved. There is obviously the legal department, which masters all the mechanics of contractualization. But also sales, finance, purchasing, human resources, etc.
With a SaaS-based CLM, teams have access to all reference information in the same system. They don't have to waste time searching for up-to-date information, since everything is in one place.
💡 On this topic, find out how Prestashop gained agility with the Hyperlex solution.
2) Automated tasks ⏰
With a CLM in SaaS mode, the key processes related to contracts are automated to increase productivity. This is possible thanks to functionalities such as deadline reminders, forms to generate contracts, risk detection, clausier, versioning, or the famous validation workflows which we also talk about below.
These solutions also offer customizable statistical dashboards. This allows you to track activity in real time! 🔢
3) Maintenance managed from A to Z, but not by you! 🧘
SaaS software is delivered turnkey, and maintenance is managed by the provider, so you don't have to worry about it. Pretty convenient, right?
4) Rapid implementation of efficient internal processes 🚀
For each contract, internal validations are required. But the more contracts there are and the more parties involved, the longer the contractualization process becomes! However, the contracts must be approved by both parties involved.
For example, it is possible to plan a sequential validation process. In this case, depending on the order of validation defined, the first participant will have to approve before the second, etc. In case of refusal, the others will not be able to approve.
Alternatively, you can set up a parallel validation (i.e. without approval order). In this case, each party will be able to validate independently of the others. The idea is to facilitate internal or external approvals by digitizing them.
5) Centralized data in a secure solution 🔒
With the contract management software in SaaS mode, all contractual information (history of contractual relations, clauses, contract templates, contractual data, etc.) are gathered in one place! The advantages of this system are multiple:
- It is a more efficient way to store legal agreements. And it's more secure than sharing files stored locally on computers.
- A library of standardized clauses standardizes the legal language and reduces the drafting, negotiation and approval phases. With a shorter sales cycle, the company can increase opportunities!
6) Seamless integration with the business software of all teams! ✒️
Each department uses specific software to meet the needs of its business. A CLM software in SaaS mode such as Hyperlex can be integrated with EDM, ERP, CRM, electronic signature solutions and other essential business applications. Your employees' habits are not disrupted, as our solution is perfectly integrated into their daily routine.
It also allows :
- Create contracts directly from the CRM: the customer information needed to create a contract is migrated to create contracts. This automation saves considerable time for operational teams.
- Update documents at any time: this way, contracts are always up to date for everyone, which avoids the need to go back and forth by e-mail between the different teams to follow the progress of the contract.
7) Access from anywhere and support for remote working 🌎
Today, telecommuting is becoming more and more the norm. In this context, having a software in SaaS mode is more than necessary.
And for good reason: all that is needed is an Internet connection to access agreements or contract history, to add comments or to approve changes. This way, employees can continue to work from home, without suffering from a lack of information or tools.
In addition, CLM software allows for fine-grained user management. This allows companies to define who sees what, based on their roles.
Want to see our contract management solution in action?
Safety is important, so we also offer you :
- Safety: 15 questions to ask your CLM
- Why protect your contractual data?
- Hyperlex: ISO/IEC 27001: 2013 certification honors its commitment through information security