Contracts form the foundation of any business relationship, defining the terms, obligations, and expectations between parties. However, manual and fragmented contract management processes can lead to delays, increased risks, and missed opportunities. This is where Contract Lifecycle Management (CLM) comes in—a streamlined approach to managing contracts from creation to renewal.

 

At Perigeon, we help businesses implement Salesforce CLM solutions to simplify contract workflows, enhance compliance, and improve collaboration.

 

What is CLM?

Contract Lifecycle Management (CLM) refers to the process of managing a contract’s entire lifecycle, from creation and negotiation to execution, compliance, and renewal. Salesforce CLM automates these processes, ensuring efficiency, accuracy, and visibility across teams.

 

Key Features of Salesforce CLM

1. Centralized Contract Repository

Store all contracts in a single location for easy access, search, and tracking.

• Example: Locate all vendor contracts for a specific region with a simple keyword search.

2. Automated Contract Generation

Create contracts using pre-approved templates, reducing time and errors.

• Example: Auto-populate customer data into contracts directly from Salesforce CRM.

3. Advanced Approval Workflows

Streamline approvals with automated routing based on predefined rules.

• Example: Send high-value contracts to legal and finance teams for simultaneous review.

4. AI-Powered Risk Analysis

Identify potential risks in contract clauses using AI-driven tools.

• Example: Flag non-standard terms that could pose compliance issues.

5. Renewal Alerts

Receive automatic notifications for upcoming contract expirations or renewals.

• Example: Get alerts for license renewal contracts 30 days before expiration.

Benefits of CLM for Businesses

1. Enhanced Compliance

Ensure all contracts meet regulatory standards with automated workflows and audit trails.

2. Improved Efficiency

Reduce the time spent on contract creation, negotiation, and approval.

3. Risk Mitigation

Identify and address potential risks in contracts before execution.

4. Increased Revenue

Proactively manage renewals and upselling opportunities.

5. Better Collaboration

Enable seamless collaboration between legal, finance, and sales teams.

 

Common Challenges Solved by CLM

Challenge	Solution with Salesforce CLM
Fragmented Storage	Centralized repository for all contracts, ensuring quick access and visibility.
Manual Errors in Contracts	Use templates and automation to eliminate errors in contract creation and execution.
Delayed Approvals	Automate workflows to speed up approval processes and reduce bottlenecks.
Missed Renewals	Receive automatic alerts for expiring contracts to prevent revenue loss.
Compliance Risks	Use AI-driven risk analysis to identify and address non-compliant clauses.

 

How Perigeon Can Help

At Perigeon, we specialize in implementing Salesforce CLM solutions that simplify contract management and drive business growth.

 

Our Services Include:

1. Implementation: Set up Salesforce CLM tailored to your business needs.

2. Customization: Create custom templates, workflows, and approval processes.

3. Integration: Connect Salesforce CLM with CRM, ERP, and document management tools.

4. Training and Support: Equip your team to manage contracts efficiently and effectively.

5. Continuous Optimization: Refine workflows and features based on business growth and feedback.

 

Real-World Success Story

A SaaS company partnered with Perigeon to implement Salesforce CLM, reducing their contract approval time by 40%. By automating renewal alerts, they increased subscription renewals by 25%, contributing to a significant boost in annual recurring revenue.

 

Conclusion

Contract management doesn’t have to be a bottleneck for your business. With Salesforce CLM, you can streamline the entire contract lifecycle, mitigate risks, and improve compliance.

At Perigeon, we’re here to help you unlock the full potential of Salesforce CLM.

 

Ready to revolutionize your contract management process? Contact Perigeon today!