Common CLM Myths: Part 2

Searching for the right Contract Lifecycle Management (CLM) tool? You’ll hear many myths along your journey. We’re here to debunk those misbeliefs – and help you make an educated decision. If you missed part one in this blog series, check it out here. If you’re up to date, let’s jump into the final two misconceptions. 

Myth #3:  Folders are the only good way to organize your contract repository. 

While folders are a great way to sort different types of materials on your shared drive, folders aren’t great for storing contracts because they hide your data, turning what could be a quick search into a wild goose chase.

LinkSquares’ flat tagging structure provides total visibility into your contracts. With our smart and customizable tagging system, teams can search across their whole contract repository.

You can create an organized and searchable repository in LinkSquares with parent-child hierarchies to group related agreements, governing summaries to highlight the active terms of your agreements, and tags to label agreements based on key parameters. 

Myth #4: Legal teams are looking to transition off Word into cloud-based editing tools.

Microsoft Word is a legal team’s most valuable tool for drafting and editing contracts. Even though word processing has evolved to include lightweight cloud-only solutions like Google Docs, Word is preferred by legal teams because it’s more robust and secure. 

To empower your team to use the tools it’s already using, LinkSquares offers seamless integration with Word to streamline the agreement editing process, track versions intuitively, and collaborate seamlessly. Work in the tools you know and love while super-charging them with the power of LinkSquares. 

Not all CLM systems are created equal, and there are a lot of questions about what makes up a strong solution. Find the signal through the noise and choose LinkSquares, which lets you work smarter, not harder. Want to learn more? Schedule a demo today.