Clause Playbook
Clause playbook is a collection of guidelines and best practices for using specific contractual clauses. It serves as a reference for legal teams and contract managers to ensure consistency and compliance in contract drafting.
Clause Routing
Clause routing is the systematic assignment and redirection of specific clauses within a contract to designated individuals or departments for review and approval. It ensures that relevant stakeholders assess and approve clauses within their expertise.
Clickwrap
Clickwrap is a method of obtaining agreement to contractual terms by requiring users to click a button or checkbox to signify their acceptance. In CLM, clickwrap agreements are often used for online transactions and digital contracts.
CLM Customization
CLM customization refers to the ability of a CLM vendor to offer customization options to tailor their software to the unique needs and workflows of different organizations. This may include the ability to configure contract templates, approval processes, and user permissions. This is a crucial element to look out for when evaluating CLM vendors. Always remember, clicks not code!
CLM Features
CLM features refer to the functionality of a CLM solution. These should include creation and authoring, automated workflows, versioning, electronic signatures, centralized repository, contract tracking and monitoring, compliance management, reporting, integrations, security, and audit trails. Many modern CLMs, like Malbek, will also include deep AI functionality and chatbots.
CLM Process Flow
A CLM process flow outlines the sequence of steps and activities involved in the management of contracts from initiation to completion. It provides a visual representation of the stages and interactions within the contract lifecycle, helping organizations understand, streamline, and optimize their contract management processes.
CLM Readiness
CLM readiness is an assessment of an organization's preparedness to implement and utilize Contract Lifecycle Management tools effectively. It involves evaluating processes, resources, and infrastructure to ensure a smooth integration of CLM systems.
CLM Services
CLM services are intended to support organizations in optimizing their contract management processes, leveraging technology, and ensuring compliance with legal and regulatory standards throughout the entire contract lifecycle. The specific services chosen depend on the organization's goals, requirements, and the complexity of its contract management needs.