Contract lifecycle management (CLM) is crucial for teams like yours that want to be better at cross-functional partnerships.
What does being a better business partner look like for today’s in-house legal teams? It’s a mix of thinking strategically, leading with transparency, and balancing risk with innovation. But this can be hard to do when you still lean on manual processes and have no way of measuring your team’s output. As your business grows, spreadsheets, decentralized storage, and a mosaic of tooling start to noticeably hold you back, creating a silo you can’t seem to collaborate your way out of.
With CLM technology, you can automate away bottlenecks and more efficiently support other functions. Here are a few more ways CLM can help you to be a better business partner.
Gain oversight without creating a bottleneck
Cybersecurity, regulatory, and legal risk are on the rise in modern businesses, so your company needs your insight now more than ever. From a risk perspective, you’re in the best position to bring up points that they haven’t considered and steer them in the right direction.
Use CLM to gain oversight into risky contracts or projects without creating a bottleneck. Keep your finger on the pulse of all kinds of risk by creating intake processes that help you evaluate (and mitigate) risk before it gets out of hand. Integrate your CLM and project management tools — or use LinkSquares Prioritize’s native integration — to create and automate workflows that allow other business functions to request reviews, approvals, or advice, and trust that it’ll be fulfilled.
Join the conversation and show your work
To be a better business partner, legal has to show up to business conversations with strategy and metrics, just like the other teams. Prove your team’s value and back up your recommendations with contract data and KPIs.
With LinkSquares Analyze, you can uncover trends inside your contracts and use our dashboard to visualize the data. This not only shows what work you’ve been doing to drive business forward, but helps you advocate for changes in budget, headcount, or risk management.
Make your collaborators’ lives easier
A great business partner is one who provides value. Who helps their team work smarter and achieve a desired outcome. The best business partners do all that while being easy to work with and making their collaborators’s lives easier.
With CLM software, you can execute contracts more quickly, help your colleagues find the agreements they’re looking for, and pave the way for a seamless partnership with automated workflows. By increasing your team’s bandwidth, CLM software enables legal teams to accommodate and fulfill more requests from teams across the business.
Takeaways
CLM is your secret weapon for building up your reputation as a team that gets things done. With CLM, you can streamline your team’s workflow and automate processes so that everyone has what they need to execute. CLM also allows you to show up to the table with insight from your contract data that supports (or blocks) critical decision-making.
LinkSquares CLM puts all these capabilities and more at your fingertips. Want to see for yourself? Contact us today.
