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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

Sales Automation

Sales Automation involves the use of technology to automate and streamline sales processes, including contract creation, approval workflows, and customer relationship management.

Salesforce Contracts

Salesforce contracts play a crucial role in facilitating a seamless and end-to-end process for requesting, tracking, and managing contracts. These contracts can seamlessly integrate with a dedicated CLM platform. Users within Salesforce can initiate the contract creation process by requesting a new contract. This request triggers a workflow that may include specifying contract details, associated accounts or opportunities, and other relevant information.

Salesforce Integration

Salesforce Integration refers to the seamless connection between a CLM system and Salesforce, a customer relationship management (CRM) platform. Integration ensures data consistency and facilitates the exchange of information between the two systems

SAP Integration

SAP Integration involves the integration of a CLM system with SAP, an enterprise resource planning (ERP) software. This integration streamlines business processes, enhances data accuracy, and improves overall organizational efficiency.

Scope of Services

Clearly outlines the services that the vendor is expected to provide. This section defines the specific deliverables, tasks, and responsibilities of the vendor.

Scope of Work

Scope of Work describes the specific products, services, or deliverables that are the subject of the contract. It outlines the scope and details of what each party is expected to provide or receive.

Search and Retrieval

Search and retrieval uses keywords or specific criteria to locate digital contracts. This makes it convenient for CLM users to locate and reference contract information when needed.

Security Agreement

A Security Agreement is a legal document that outlines the terms and conditions related to the use of collateral to secure a loan or financial transaction. It defines the rights and obligations of the parties involved in securing the agreement.