Corcentric Contract Management

Contract Lifecycle Management (CLM) Software

Make all your contracts
automated, paperless, and accessible
across your organization

Turn contracts into valuable assets with Corcentric Contract Lifecycle Management (CLM)

Contracts aren’t static documents; they’re leverageable assets your organization can use to minimize risk, maximize opportunities, achieve compliance, and generate revenue. Corcentric’s modular, platform-based Contract Lifecycle Management (CLM) solution makes them fast to create, with self-service and collaborative features that simplify day-to-day searching, authoring, and administration. Verified, real-time data gives all users, from procurement to legal to sales, the visibility and insights to turn every contract into a powerful decision-making tool.

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Easy Access

Do you know where all your contracts are and how to access them quickly?

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Business Bottleneck

Are inefficient processes and long cycle times frustrating business?

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Risk Management

Are missed deadlines and expirations creating risks…and costs?

Harmonize Supplier Risk Data for Source-to-Pay

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Contract Repository

Control starts with access

Finding and reviewing contracts is the first step to contract management. Our CLM lets you leverage a responsive cloud-based centralized contract repository for easy access in discovering contracts, importing contracts, and managing expiry and renewals.

  • CLM 360° dashboard
  • Contract master data + metadata management
  • Contract import + export
  • Amendment management
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Contract Request +
Approval Workflow

Increase users, increase compliance

Involving a wider set of users for initiating and managing contract approvals will expand effective contract management. The Corcentric Contract Lifecycle Management system features contract request and approval workflows to improve collaboration and expand the use of electronic contracts and documents.

  • Contract requests
  • Contract templates
  • Advanced workflow management
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Contract Authoring + Negotiation

Make contracts a collaborative effort

Collaborative authoring with internal and external counterparties gets everyone on the same page. Microsoft Word add-on for creating, authoring, editing, and checking ensures a smooth transition between paper and electronic-based contracts. Accelerate workflow with advanced contract redlining for managing new and renegotiated contracts.

  • Collaborative authoring + redlining
  • Contract negotiation workflow
  • Contract process validation
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Obligations Management

Post execution is when active
contract management starts

Organizations need a specific ongoing process for managing the obligations that each party is legally responsible for in a contract. CLM technology makes the process more flexible, effective, and easy to meet compliance and financial goals while mitigating contract risk.

  • Monitoring and measuring contract obligations
  • Terms and conditions, milestone dates, delivery requirements, service levels, discounts, security, etc.
  • Frictionless contract management evaluates supplier compliance
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Clause Management

Contract creation with built-in compliance

The ability to create contracts dynamically takes contract management to the next level. Our CLM solution empowers users through self-service and clause library access to create and organize contracts based on clause groups, and best-in-class contract blueprints.

  • Dynamic rules-driven templates
  • Comparison of side-by-side versions
  • Clause library filtering by category, risk level, parent level, and more
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E-Signature

Accelerate from dotted line to bottom line

Integrated e-Signature capabilities with leading solutions like DocuSign (embedded in the application), take you to the last step in executing your contracts, while maintaining a complete audit trail of all signatures internally and those with your contract counterparties.

  • Fast, easy and secure to use – if you can click, you can sign
  • Fully traceable as to who signed, when, and where
  • Faster turnaround since all parties can sign within seconds
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Active Lifecycle Management

Adopt a proactive, dynamic contract strategy

Don’t file contracts — keep them dialed-in to ensure that you do not miss important milestones (and opportunities) to evaluate contract relationships and supplier performance prior to renewal.

  • Add notifications and tasks for expirations, renewals, and obligations
  • Four renewal types – Renewable, Tacit Renewable, Automatic Limited, and Automatic Indefinite
  • Establish parent-child relationships between contracts, including master agreements
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Integrated Contracts

Put contracts at the center of everything

Contracts touch every part of an organization, so the more seamlessly they can be integrated across key systems, functions, and departments, the more effective they are as tools.

  • Sourcing – Simplify creation of item pricing
  • Supplier Management – Enable management of supplier performance to SLAs
  • Systems – Integrate pricing with ERP, Procurement, and/or other external systems
  • Master Data – Ensure contract information is up-to-date, accurate, accessible, and collaborative

See What It Takes to Make Your Contracts Work Harder than Ever

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Did you know?

60%

of corporate litigations are
related to contract disputes.

73%

indicated “price changes” as
the most common dispute.

12%-15%

of contracts are lost or unaccounted
for in organizations.

Source: ABERDEEN GROUP

Trusted by Fortune 1000 and
mid-market companies worldwide

“(Corcentric)’s CLM pedigree started on the sell-side and is well suited to both buy-side and sell-side usage…the solution has an intuitive user interface and should meet most procurement organizations’ product needs.”

Control, leverage, and monetize your contract assets with Corcentric CLM

Learn how we can help you develop a contract lifecycle management business case to break down stakeholder barriers.

Related Contract Management Resources