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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

Customer support

Customer support involves the provision of assistance, guidance, and resolution of issues or inquiries related to the CLM system. It aims to ensure that users have a positive and effective experience with the platform.

Customer Success

Customer success focuses on ensuring that customers achieve their desired outcomes and goals with the CLM system. It involves proactive support, training, and ongoing engagement to maximize the value of the solution.

Customer Stories

Customer stories are narratives or testimonials that showcase positive experiences and outcomes of customers using the CLM system. They serve as examples of successful implementations and highlight the value of the solution.

Customer Relationship Management (CRM) Software

Customer Relationship Management (CRM) refers to software technology and strategies to manage and nurture relationships with customers throughout the contract lifecycle. It includes tools for tracking customer interactions, preferences, and feedback. Many organizations implement CLM solutions and integrate to leading providers like Salesforce, Microsoft Dynamics, Hubspot, and Veeva.

Customer Experience

Customer experience encompasses the overall satisfaction and perception of customers during their interactions with the contract management process. It involves user-friendly interfaces, efficient workflows, and positive engagement.

Coupa Integration

Coupa integration is the seamless connection and interoperability between the CLM system and Coupa, a platform for business spend management. Integration streamlines procurement processes and enhances overall efficiency.

Cost-plus Contracts

Cost-plus contracts are agreements where the buyer agrees to reimburse the seller for the costs incurred, along with an additional agreed-upon fee or percentage. These contracts are often used when the total project costs are uncertain.

Contract Management

Contract management involves the systematic administration and oversight of contracts throughout their lifecycle. It includes tasks such as creation, negotiation, approval, compliance monitoring, and renewal or termination.