Contract Management Software (CLM) for
Information Technology (IT) Sector

contract-management-software-clm-for-information-technology-it

Why Is Smart Contract Management a Necessity For Successful IT Operations?

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As a result of digitization trends, IT companies must adapt by implementing intelligent compliance solutions. Technologies like IoT or the Internet of Things have accelerated the need for IT companies to stay up to date on security threats & vulnerabilities.

This requires IT businesses to strictly comply with industry regulations to prevent cyber security violations & data breaches.

IT companies also need to establish a smarter & more effective way of managing their contracts like Service Level Agreements (SLAs), Software License agreements, combination contracts & cloud computing agreements; to experience the full benefits of intelligent automation & gain an efficiency edge.

Smart contract automation is quickly becoming indispensable for any enterprise in the Information Technology industry looking to optimize ROI.

Challenges The IT Sector Faces With Contract Management

information-technology-contracting-challenges

IT contracts are often delayed or not completed at all as a consequence of increasing complexities in the industry.

  • The IT industry constantly faces growing challenges in the regulatory landscape. Compliance frameworks with various data protection regulations complicate contracting furthermore.
  • The obligation to collaborate with multiple parties & stakeholders before bringing contracts into effect makes contract management a pain point for Information Technology enterprises.
  • IT sales and tickets are negatively impacted when contracts like SLAs do not provide the necessary insights, leading to poor customer experience.
  • Contract turnaround time for services is extremely slow and there is little to no post-execution contract visibility.

Streamline & Expedite IT Contract Management With Smart CLM

information-technology-contracting

IT businesses need to integrate smart & robust contract management solutions that can help them keep pace & stay ahead of their competitors. Template libraries, activity & milestone tracking, digital signature certificates & centralized storage all help IT firms scale up contracting, secure key documents & monitor contract stages effectively with high visibility.

CLM technology addresses every contract-related concern the IT industry faces & solves them using a consolidated solution. CLM tools help IT businesses boost efficiency by -

  • Increasing visibility into contract terms and managing milestones to guarantee compliance while meeting delivery timelines.
  • Enabling automation through various contract workflows including contract authoring, approval cycles, centralized storage, milestone reminders, & more.
  • Providing access to contract reports & data in real-time to promote transparency & help IT firms towards strategic decision-making.
  • Tracking the expiration and renewal of IT product licenses by sending automated alerts to key parties.
  • Managing all contracts holistically across their lifecycles to ensure that all IT compliance & cyber-security requirements are met.

Featured Use Cases

Our contract lifecycle management solution provides Information Technology (IT) enterprises with the capabilities to automate contracts from draft to renewal, improve visibility for vendor management and streamline contract workflows to optimize efficiency.

template-and-clause-libraries

Template & Clause Libraries

Clause-Locking-&-Digital-Negotiations

Digital Negotiations

Central-Contract-Repository

Central Contract Repository

Real-Time-Status-Tracking

Real-Time Status Tracking

eSign-Integrations

eSign Capability

Audit-Trails-&-Activity-Logs

Audit Trails & Activity Logs

Automated-Expiry-&-Renewal-Alerts

Automated Expiry & Renewal Alerts

Client-Profile-Creation

Client Profile Creation

Smart-Analytics-&-Tracking

Smart Analytics & Tracking

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