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CLM Glossary

From contract initiation to execution, this guide is crafted to assist contract professionals in grasping the nuances of contract lifecycle management.

All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

User Experience (UX)

The overall experience and satisfaction of users interacting with the CLM system, focusing on ease of use and efficiency.

User Feedback

User feedback for CLM software encompasses comments, opinions, and insights provided by users regarding their experiences with the software. This feedback can cover various aspects, including features, usability, challenges faced, and suggestions for improvements. It is often collected through surveys, interviews, or direct communication channels. When evaluating CLM vendors, consider asking for feedback and references.

User Interface (UI)

User Interface (UI) refers to the visual and interactive elements that users interact with. It encompasses the layout, design, and functionality of digital interfaces, aiming to provide an intuitive and user-friendly experience.

User Satisfaction

User satisfaction refers to the overall contentment and positive experience of individuals who use the software. It measures how well the CLM solution meets the expectations and needs of users, including ease of use, functionality, and the extent to which it contributes to their efficiency in managing contracts.

Validity Period

Quotes often have a specified validity period, indicating the duration during which the quoted prices and terms are applicable. This helps manage expectations and ensures that both parties are working with current and accurate information.

Vendor Contracts

Vendor contracts are formal contracts between a buyer and an external supplier. They outline terms such as product or service details, pricing, and delivery schedules, ensuring a clear understanding of the business relationship.

Vendor Management

The oversight and coordination of relationships with external suppliers, including managing their contracts and performance.

Vendor Onboarding

Vendor onboarding is the process of integrating new suppliers or vendors into a business's operations and systems. It involves the necessary steps to establish a productive and compliant relationship with a new vendor, ensuring that they meet the business's requirements and standards.