Next-Generation Contract Lifecycle Management Software | CLM Tool

If your legal and procurement teams need to manage contracts at scale with more control and visibility, Infosys BPM’s Next-Generation contract lifecycle management software (CLM software) provides an enterprise-class platform to support the full contracting process. It centralises contracts, streamlines authoring and approval workflows, and gives business users secure, searchable access to contracts through seamless integration with your existing systems.

Our CLM software solution will also take you closer to your goals — enforcing compliance, leveraging volume discounts, effectively managing obligations, reducing contract risks and chances of litigation. We can help you make full use of your contracts and leverage business-critical information negotiated into contracts with our contract management software. By incorporating artificial intelligence and machine learning, our system enhances contract negotiation and analytics for legal teams.

Business challenges in contract lifecycle management

Legal, procurement, and business leaders often face:

• Contracts stored in multiple systems and formats, making it difficult to get a single, reliable view of terms, obligations, and renewals.
• Manual, email-driven authoring and review processes that slow time to contract and increase the risk of errors and non-standard language.
• Limited tracking of contractual obligations, SLAs, and risks once agreements are signed.
• Difficulty assessing the impact of regulatory or policy changes across large volumes of contracts.

A robust contract lifecycle management software platform helps address these challenges across the full contract lifecycle.

Infosys BPM Contract Lifecycle Management Software

Infosys BPM’s Next-Generation Contract Lifecycle Management (CLM) tool is an enterprise-class contract management system that supports all organizational contracts – including sell-side, buy-side and legal.

Key features

• Easy-to-execute contracts

  — that enable effective contract management process

• A unified searchable contract repository

  — to store and retrieve contracts and its associated documents

• A collaborative environment for teams

  — to negotiate and author contracts, extract contract summary and key clauses, send and receive alerts on obligations, and process contract renewals

Benefits of CLM Tool/Software

Centralize organization-wide contracting process

• A unified searchable secure repository for contracts and associated documents, including legacy contracts and newly created contracts
• Comprehensive flexible contract summary or abstract for easy information retrieval
• Multi-channel mailroom process to receive contracts across locations and multiple formats
• Effectively reduce time to author contracts by leveraging Microsoft Word interface with contract lifecycle management custom add-ons, clause and template libraries
• Management of all contracts (buy, sell and legal) from the central repository
• Collaboration features to improve the negotiation process (both internally and externally)

Enforce compliance and best practices

• Standardize contracting processes (including contact clauses and templates) to adhere to corporate norms, best practices and industry / regulatory framework
• Policy-driven workflows for contract execution based on contract value, contract type and risk
• Role-based security and control access rights to both internal and counter-party users

Improve efficiency and savings

• Increase savings by bringing more spend under contract and increasing contract compliance
• Decrease administrative, dispute and operational costs by setting up timely alerts and notifications with our CLM solution
• Identify revenue opportunities through better management of contracts and historical data
• Improve contract efficiency through lower contract cycle times, improved internal collaboration and policy-driven contract authoring

Manage obligations and risk

• Improve client / supplier satisfaction by extracting, tracking and managing contractual obligations and SLAs using contract management software
• Comprehensively manage contractual risk in the right manner at various levels – clause, contract and organizational
• Assign and manage tasks to comply with contractual obligations and risks with the contract lifecycle management solution.

Related reading

• Infosys LPO Contract Management services

Back to

• Infosys LPO Contract Lifecycle Management services

*Disclaimer: Infosys LPO is not a law firm and any of its services or solutions do not constitute legal advice