Vlocity Clm (2024)

FAQs

What is CLm in DocuSign? ›

Contract lifecycle management (CLM) refers to software used for managing contracts from generation to ongoing management and eventual renewal or termination. Table of contents. Document generation. Negotiation and collaboration. Workflows and signing.

Is Salesforce CPQ and Vlocity CPQ the same? No, Salesforce CPQ and Vlocity CPQ are not the same. Salesforce CPQ focuses on configure, price, and quote processes, while Vlocity CPQ, now part of Salesforce Industries, offers industry-specific CPQ solutions.

Contract lifecycle management (CLM) automates and streamlines contract processes during key stages. These stages include initiation, authoring, process and workflow, negotiation and approval, execution, ongoing management and compliance (within the repository), and contract renewal.

Conga CLM allows you to schedule jobs to automate recurring tasks, such as refreshing agreement data, setting the expiration date for the links used to download multiple agreements, extracting intelligent data, and generating reports.

With DocuSign CLM, your sellers can stay in Salesforce to do everything they need across the agreement process. Meanwhile, contract administrators and legal teams are able to review, edit and approve from an easy-to-use web application that doesn't require them to have Salesforce licenses.

Both CLM and CRM help businesses foster customer relationships, increase customer satisfaction and ensure recurring profits. While CRM emphasizes monitoring and managing customer relationships, CLM focuses entirely on different stages of a customer lifecycle to find opportunities for improvement.

Contract lifecycle management (CLM) refers to the way a business handles contracts through their various stages. An effective CLM solution streamlines and simplifies the contract management process while minimizing errors.

A first-time CLM can benefit you if:

If your workload is scaling quickly and you need to manage more without hiring more help, a CLM can help you automate tasks to work more efficiently.

In summary, contract management focuses on day-to-day contract administration, while CLM takes a long-term, strategic approach. Optimizing these processes can lead to cost savings and improved efficiencies.

Contract Lifecycle Management (CLM) Defined

Effective and proactive contract lifecycle management is achieved through the use of contract management software. Having a CLM system streamlines these critical stages, from initial drafting to final renewal, by automating workflows and centralizing contract data.

Does SAP have a CLM? ›

About SAP CLM

SAP CLM or Contract Lifecycle management enables businesses with an opportunity to increase productivity along with cost saving.

With CPQ, a lot needs to happen before Sales can deliver a quote. And with CLM, a lot needs to happen before a contract gets signed. CPQ is just as important for Operations and Finance as it is for Sales.

What is CLM (Contract Lifecycle Management)? CLM stands for contract lifecycle management which streamlines the contract process.

Contract lifecycle management (CLM) is the process of digitally managing agreements made with customers, vendors, partners, or employees through every stage of the cycle, and encompasses creating, managing, sharing and archiving business contracts.

Closed Loop Mode (CLM) is a control system technique used to adjust and regulate the output of a process to a desired level by continuously measuring and comparing it with a set reference value. Let's dive into the technical details: Concept and Purpose: In CLM, a closed-loop control system is employed.