How to Select the Right CLM Solution

Contract Management CLM Solution

Contract Lifecycle Management solutions are becoming mainstream and right now there are too many options in the market. A lack of the right CLM Solution can make it difficult to optimize spend, reduce manual tasks, manage inventory, and gain traction. A good CLM solution will ensure the best business outcomes and will also keep your customers happy in the process.

It is a prerequisite to be extra careful when choosing and investing in CLM software. Here are our top tips:

Identify Your Stakeholders

Identify the key stakeholders in your company and talk to them. Discuss your ideas with them and collect feedback to find areas of improvement. Your stakeholders will give insights into how new CLM implementation will affect various enterprise-wide agreements and departments.

It is important to identify individuals from each department learn how they will be using the CLM and note their inputs on the selection and implementation processes. Ultimately, they are the end user and the CLM implementation should streamline business workflows and make everyone’s jobs easier.

If you need this step to be done by the experts who will ensure that the right questions are asked to the relevant stakeholders and all important information is gathered and analyzed, you can turn towards Talent-as-a-Service (TaaS) solutions.

Identify the Right CLM Vendor

This is the step where you test the list of features and make sure that your desired CLM solution matches your business requirements. A good CLM vendor will offer various features that are scalable and reliable such as – AI capabilities, workflow automation, contract analytics, licensing and change management support, etc

You should also evaluate the ease of implementation, legacy migration, and CLM training modules, as well as see whether the software offers live support when it comes to user adoption.

Cacti Global can help you find the right vendors for your business through Managed Services and help you with end-to-end CLM implementation through their team of seasoned professionals.

Centralized and Searchable Repositories

Locating your contracts should be easy considering tracking down agreements manually consumes a lot of time. Your CLM software should provide searchable, safe, and secure repositories for effective contract management, which you can access readily anytime.

Good CLM solutions are equipped with the right document storage services and let you sort contracts according to dates, clauses, and other search criteria.

AI, Automation, and Compliance

A CLM solution that continuously innovates and enables single-point contract management services will yield superior results. It will evolve with industry changes and adapt to the latest trends. AI and automation capabilities can enhance organizational performance, reduce redundancies, and streamline contract management workflows.

Good CLM solutions will ensure compliance with the latest industry standards as well as state laws and regulations. This will help you avoid lawsuits and potential financial losses stemming from unforeseen breaches in legal rules or clauses.

To learn more about our CLM solutions and implementation, connect with us.


More Posts

Our Testimonials

Cacti’s work culture has allowed me to change my career field after 18 years of experience. The transparency and faith gave me the confidence to take up opportunities in a completely new field and succeed in the same. It is the commitment that Cacti puts into my growth that acts as the biggest motivator.
– Laxmee Jena

Our Testimonials

I have worked in different areas to understand what I enjoy the most. The creative freedom and opportunity that I have been given to try and learn different things have truly made work enjoyable for me.
– Lipi Gandhi

Our Testimonials

Coming from a non-technical background to working in the tech-analytics domain of the organization, Cacti has paved the way for my dreams to become reality. This was possible because Cacti helped me to become an expert and specialize in the field of my liking
– Ankita Kumari

Our Testimonials

What makes Cacti Global unique is the inclusivity and the strong culture of collaboration that I have seen being reflected across all levels within the organization as well as echoed in client profiles. The open and supportive environment has encouraged me to share ideas. The team spirit and willingness to help each other are truly inspiring. I am grateful to be a part of such a great group.

– Gaurav Agarwal

Our Testimonials

Cacti Global has provided me with a very conducive environment to learn, grow and prosper. The essence of the organization lies in its contemporary, innovative, and entrepreneurial approach towards ways of working. There is a true sense of belonging, respect, and involvement that has helped me derive job satisfaction

– Ritwik Raj


Our Testimonials

Satisfying and smooth journey for 2 years with Cacti has helped me in maintaining an incredible balance between my personal life and job. For me, Cacti has been like a family which is always supportive, and encouraging. The flexible hours is a huge plus and also a major motivator.
– Rita Jaitley