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Contract Lifecycle Management Overview
Using Vlocity Contract Lifecycle Management (CLM), you can create and maintain the entire life cycle of contracts associated with opportunities, orders, quotes or other Salesforce custom objects. Vlocity CLM integrates contract creation with the sales process, which means contracts are carried forward through the different stages of a sale from opportunity to quote to order. You can also create standalone contracts that are not part of any sales process. For example, you can create non-transactional contracts such as NDAs or partner agreements.
Vlocity CLM Features
You can:
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Manage the complete life cycle of multiple contract types.
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Maintain a library of reusable clauses and contract document templates.
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Restrict clause and document template usage to specific contract types.
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Write conditions on contract document sections, such as clauses or embedded template sections (in Web templates), which gives you control over the sections to display in the generated document. Those conditions can include product lists or other conditions, such as customer location, billing accounts and so on.
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Generate contract documents during the order capture process based on products and services selected.
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Configure the different states for contracts using the Vlocity State Model. And, using Vlocity Actions, you create actions, create conditions, and set permissions.
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Populate terms and conditions automatically and dynamically.
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Generate and store contracts in the appropriate formats for reading and review.
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Define routing and escalation paths for contract approvals.
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Customize and edit contracts, and compare and reconcile them with other versions.
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Integrate with DocuSign to manage reminders and eSignatures.
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Automatically renew contracts while creating opportunities, sending notifications, and managing the appropriate activities.
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Track general contract terms and pricing terms such as discounts through the contract lifecycle.
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Take advantage of built-in version control and change management.
Using CLM as a Document Generator
You can use features of CLM for generic document generation. For example, you can generate dynamic documents for other purposes, such as proposals, order documents, and so on that are not based on the Contract object. These documents are typically generated as part of an Omniscript flow.
Before you implement document generation with Vlocity CLM, review the following details:
Benefits
With document generation features of CLM, you can:
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Use a 100% SFDC native, dynamic document generator.
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Merge data from any JSON data structure, including data you capture in Omniscripts or data queried from external systems.
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Create documents as part of a UI flow. This requires a user browser session.
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Launch document generation from a Salesforce object page or an Omniscript.
Limitations
The limitations of document generation features in CLM when generating documents from contract objects are:
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Not a server-based, full-featured document generator, which is needed for batch generation of invoices, monthly statements, and so on.
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Cannot be invoked as a service from server-side code (the document generation process runs inside your Web browser).
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Cannot be run in OmniOut.
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Cannot dynamically render images, hyperlinks, or charts.
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Does not support Microsoft Excel templates and outputs.
- CLM Concepts
This section provides an overview on contracts, contract lifecycle, contract authoring, frame agreements. - Contract Lifecycle Management System Administration
These topics are primarily for contract administrators, product administrators, and others who are setting up Vlocity CLM for an org. - Contract State Model and the Contract Workflow
The Contract State Model determines the contract life cycle. The Contract State Model controls which actions are available and to whom. - Using Contract Lifecycle Management
Typically, a business administrator creates contract document templates and clauses. Other users can create and edit actual contract documents. Typically, you create contracts from Opportunities, Orders, or Quotes as a part of the CPQ flow. - Contract Creation
Vlocity supports contracts on opportunities, orders, and quotes. If the contract was created from an opportunity, when the opportunity becomes a quote, Vlocity CLM copies the contract reference from the opportunity to the quote. - Large Quotes to Contracts Overview
When you have large quotes with several lines or a large quote with several child quotes, you can asynchronously create contracts for those quotes. - Customizing a Contract Document
Customize a contract by changing the contract document. You can start a contract with a document template, but you usually need to edit, or customize, the specific contract. You check out a contract to customize it, ensuring that versions are managed properly. When you check out a contract document, sections that appear in gray are restricted. You cannot change them. When you are finished customizing a contract document, you save it and check it in. - Contract Document Management
Contracts require negotiation. Changes in a contract may require that it be sent for approvals and signatures. The administrator can configure which types of changes require approval. For example, if a change to the contract affects pricing, approvals or signatures are required. However, if a change does not affect pricing, such as a typo or name misspelling, approvals or signatures are not required. - Generating a Contract Document
Vlocity CLM generates a contract document from a document template associated with the contract. Vlocity CLM stores the contract document in HTML format, but you can create Microsoft Word or PDF contract documents. - CLM Troubleshooting Guide
Tips for troubleshooting user access and permissions.
