Every (commercial) relationship begins with a contract.
But the time between the sales proposal and the signing of the contract can be a long one… and with good reason, as many actions are required on the part of various parties. From the sales representative to the legal expert, via the purchasing manager, the contract passes through several hands. Without clear, established processes and the right software, contractualization can drag on indefinitely.
In this article, we give you 7 reasons to adopt SaaS-based CLM software.
SaaS CLM software: an effective way to streamline and accelerate your legal processes
☁️ What is SaaS software? SaaS (for Software as a Service) means that the software is online. This means that: 1) data is not stored locally on employees’ computers; 2) updates are made automatically; 3) all you need is an Internet connection and a subscription to use the software!
The contract management software offers a wide range of functions. One of these is the summary sheet, which provides quick access to all key contract elements. And it’s precisely this kind of functionality that speeds up legal processes. Here are all the advantages of SaaS-based CLM.
1) Improved collaboration between all teams
One of the key advantages of SaaS is that it enables companies to work more seamlessly together. When signing a contract, many parties are involved. Of course, there’s the legal department, which masters all the nuts and bolts of contractualization. But also sales, finance, purchasing, human resources and so on.
With a CLM in SaaS mode, teams have access to all reference information in the same system. They don’t have to waste time searching for up-to-date information, because it’s all in one place.
2) Automated tasks
With a SaaS-based CLM, key contract-related processes are automated to boost productivity. This is made possible by functionalities such as deadline reminders, contract generation forms, risk detection, clausier, versioning, and the famous validation workflows we’ll talk about below.
These solutions also offer customizable statistical dashboards. So you can monitor your business in real time!
Agility, peace of mind, security: our SaaS contract management solution from DiliTrust can be tailored to your needs. You only subscribe to the modules you really need!
3) Maintenance managed from A to Z, but not by you!
SaaS software is delivered on a turnkey basis, and maintenance is handled by the supplier, so you don’t have to worry about it. How convenient is that?
4) Rapid implementation of efficient internal processes
For each contract, internal approvals are required. But the more contracts there are and the more parties involved, the longer the contractualization process becomes! However, contracts must be approved by both parties.
👀 F ocus on… Workflows! To simplify and automate processes, there’s the validation workflow functionality. The idea is to be able to recreate an existing process in a cloud-based CLM system. For example, you can set up a sequential validation process. In this case, depending on the order of validation defined, the first participant must approve, before the second, and so on. In the event of refusal, the others will not be able to approve. Conversely, you can set up a parallel validation (i.e., no order of approval). In this case, each party can approve independently of the others. The idea is to facilitate internal or external approvals by digitizing them.
5) Data centralized in a secure solution
With contract management software in SaaS mode, all contractual information (history of contractual relations, clauses, contract templates, contractual data, etc.) is gathered in one place! The advantages of this system are manifold:
- It’s a more efficient way of storing legal agreements. And above all, it’s more secure than sharing files stored locally on computers.
- A library of standardized clauses standardizes legal language and reduces the drafting, negotiation and approval phases. With a shorter sales cycle, the company can multiply its opportunities!
💡 Good to know: on this point, you should know that DiliTrust has obtained ISO/IEC 27001 international certification for information security management systems (and its ISO 27701 privacy protection extension). This standard certifies that DiliTrust meets the highest security requirements and measures on the market.
6) Seamless integration with all teams’ business software!
Each department uses specific software to meet its own business needs. SaaS-based CLM software like DiliTrust can integrate with EDM, ERP, CRM, electronic signature solutions and other business-critical applications. As a result, there’s no need to disrupt your staff’s daily routine, as our solution integrates seamlessly into their daily lives.
It also allows you to :
- Create contracts directly from CRM: the customer information required to create a contract is migrated to create contracts. This automation saves considerable time for operational teams.
- Update documents at any time: contracts are always up to date for everyone, so there’s no need to send e-mails back and forth between different teams to keep track of contract progress.
7) Access from anywhere and support for remote working
Today, telecommuting is the norm. In this context, having software in SaaS mode is more than necessary.
And with good reason: all that’s needed is an Internet connection to access agreements or contract histories, add comments or approve modifications. In this way, employees can continue to work from home, without suffering from a lack of information or tools.
What’s more, CLM software enables fine-tuned user management. In this way, companies can define who sees what, according to their individual roles.
Would you like to see our contract management solution in action?
