CLM: Get Intelligent With Contracting

What we need to start thinking about is that CLM is, this life cycle really is circular and has multiple stages. In fact, Forrester has mapped out six stages of the contract life cycle management process. This whole notion of just creating a digital repository that's like your table stakes. I mean, that's like the very first thing. That's how you start. That's how you dip your toe into CLM. But you can't stay there. At some point you need to go into deeper waters if you're going to be able to justify the spend and the time and the resources. We need to use CLM and start getting intelligence and being able to analyze not just a single contract but portfolios of contracts. And those portfolios need to look at, is it a specific product? Is it a specific geography? Is it a specific business unit? That's how you start getting the analytics and the intelligence that allow you to both run your business as well as to optimize the process for how we create contracts, execute contracts, and then service them.