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All that you need to know about SAP CLM

SAP Contract Lifecycle Management (CLM) automates the negotiation of contracts, speeds up approvals, enables effective change management while keeping track of redlining via a secure portal. For more details, visit - https://bit.ly/39xNjdq

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All that you need to know about SAP CLM

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  1. May 2022 All that you need to know about SAP Contract lifecycle management (CLM)

  2. About SAP CLM • SAP CLM or Contract Lifecycle management enables businesses with an opportunity to increase productivity along with cost saving. SAP CLM makes contract renewal faster and easier thus making the process smooth for businesses and their customers. • Businesses deal with a lot of active contracts running simultaneously that might have different terms and conditions, here CLM can be of great help. CLM automates the complete process by ensuring contract compliance, capturing valuable data thus resulting in long term, significant benefits.

  3. Few reasons why you may need a Contract Lifecycle Management solution • Centralized repository • A CLM platform has the ability to combine all contracts and peripheral documentation relevant to it in a central repository. Your team can be more productive and focused as the CLM solution eliminates the need to shift through paperwork manually • Increase contract cycle efficiencies • The traditional contract cycle takes a while to complete. A CLM platform can identify opportunities where you can save money, improve delivery, and reduce cycle time so that the contact managers can take advantage of it. • Deliver great value to customers and suppliers • Exceeding customer expectations through proper contract performance enhances businesses’ values, reliability, and credibility. CLM solution does this for you by streamlining the process through automation and digitization. • Track  • compliance • A major issue in many contracts is compliance and ensuring it from suppliers can be time-consuming and difficult. Any organization with poor contract management will likely suffer from cost inefficiencies. • With SAP CLM, organisations can comply with the agreed terms and have opportunities to save on the cost from special terms.

  4. How SAP CLM can be helpful for businesses?

  5. Choosing SAP CLM can be very helpful in overcoming all the problems that you might face and can also be helpful in improving cost savings and efficiency of your business. Having proper understanding and automating CLM minimisesorganisational liability and increases compliance with legal requirements. • Contract activity is an essential business aspect that requires proper management during the complete cycle. SAP Contract Lifecycle Management (CLM) service is a practical and systematic way to manage the entire contract lifecycle right from initial stage, through award, agreement and renewal (if required). A few advantages of using CLM for your business includes simplifying sourcing and procurement processes, accelerate compliance with negotiated terms, and enhance competitive advantage.

  6. Thank you • AcuitiLabsAcuiti Labs Ltd., 1 Giltspur Street,London EC1A 9DD, UK • info@acuitilabs.com • +44 20 7101 9405 • www.acuitilabs.com

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