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Contracts Architecture Changes
A key question that many customers explore is whether to rearchitect the modeling of contracts in Revenue Management to better use new capabilities.
Contract Model in CPQ
In CPQ, contract management is often a manual and disconnected process.
- Contracts are typically generated from quotes or orders, and are relatively static.
- Amendments and renewals require creating quotes and linking them back to the original contract.
- Mid-term changes are complex.
- Legal teams typically worked in Word or external Contract Lifecycle Management (CLM) tools.
Redesign of Contract Lifecycle
If you're using another CLM tool, utilize the migration process to evaluate your options and consolidate into Revenue Management. Its native CLM unifies contract creation, negotiation, signing, and obligation tracking in one place.
- Legal teams can manage template libraries and clause libraries.
- Clauses can be generated automatically based on deal parameters such as contract value, customer tier, and geography.
- Redline summarization can reduce negotiation cycle time.
- Real-time compliance is checked during contract creation.
- Digital signatures are integrated. DocuSign is available by default and others are available through API.
- Post-signature obligation tracking replaces manual calendar reminders and spreadsheet tracking.
Before configuring CLM, map your current contract creation and approval process. Identify which contract types are highest in volume and highest in risk, and prioritize those contract types for CLM automation.
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