How increasing your CLM maturity can accelerate your digital transformation

By Marianne Chrisos posted 03-03-2023 16:13

Are you getting the most out of your CLM? Agiloft is a powerful tool for automation, streamlining processes, collaboration, reporting, and creating a contract library and repository. But it’s also the potential foundation to build a more agile, scalable future.  

Digital transformation, defined  

According to Accenture, digital transformation is “the process by which companies embed technologies across their businesses to drive fundamental change,” which lead to “increased efficiency, greater business agility and, ultimately, the unlocking of new value for employees, customers and shareholders.”  

Unlocking value from your CLM solution and strategy can play a crucial role in accelerating digital transformation by optimizing the user experience and enabling organizations to make data-driven decisions. Here are some ways in Agiloft supports your digital transformation: 

  •  Personalized experiences: Your CLM can empower your organization with a comprehensive understanding of customers, vendors, and business partners and provide them with tailored experiences based on specific workflows and preferences. 
  •  Improved customer or client engagement: By tracking and analyzing customer interactions throughout their lifecycle, organizations can improve their engagement strategies, leading to higher customer satisfaction and loyalty. 
  •  Increased efficiency: CLM helps organizations streamline processes, eliminate manual tasks, and automate workflows, freeing up time and resources to focus on more strategic initiatives. 
  •  Data-driven decision making: Agiloft provides organizations with a wealth of data, enabling them to make informed decisions based on data rather than intuition. From being able to forecast next quarter’s spend to projecting sales for the rest of the year, sustainable success depends on data.  
  •  Better customer insights: CLM can help organizations gain a deep understanding of everyone they do business with. These insights can help improve relationships with vendors, reduce time negotiating contracts, and even enable organizations to negotiate more preferable deals with better information gleaned from CLM data. 

In order to fully support these goals, Andy Wishart, CLM Futurist & Agiloft’s Chief Product Officer, recommends that businesses move “beyond the foundational stage of digitizing contracts and automating their contract management processes, to connecting the data that is hidden in their contracts to key people and processes across an organization. Once in the right systems and processes, that contract data can be transformed into business-critical intelligence that ultimately delivers more strategic value, ensuring contract data is acted upon and delivers the intelligence to optimize wider business outcomes.”  

How to Unlock More with Agiloft  

 Senior analyst at Forrester, Alla Valente, once said, “Contracts are how you manage the ecosystem of business; they are the connective tissue of your company with your ecosystem of vendors, suppliers, partners, and customers, with whom you do business. Those that truly harness the information hidden in their contracts to manage risk and move to that maturity phase of using their CLM system, are the ones that will lead the market by demonstrating their agility and ability to protect their organization.” 

There are several ways that Agiloft is committed to helping you expand and evolve your CLM operations, moving from efficiency to true strategic value.  

  •  Support: The right support plans means not having to slow down. Agiloft offers support options and resources with the responsiveness, technical expertise, and advice that your business needs to get more done with more departments across your organization.  
  •  Integrations: . With Agiloft’s powerful integrations, you can empower your teams to do more by connecting your CLM to other technology across your enterprise and flow data where it’s needed.  
  •  Agiloft University: Our new online training is focused on empowering you to become a certified Agiloft Administrator within your organization, enabling you to accelerate your digital transformation efforts and further widen the competitive advantage of your enterprise CLM.  

One key way to get the most out of Agiloft is to join our community. Start a conversation with your peers, ask a question, or read through past threads to get insight from Agiloft users from around the globe.  


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