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Contract Lifecycle Management
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Not every organisation or law firm needs an end-to-end CLM platform. At Wycane Legal Transformation we only recommend tech solutions when they’re a good fit for our client and will deliver the expected return on investment (ROI). In some cases, it is possible to optimise existing processes to streamline contract management or utilise existing technology and non-tech solutions.
With Wycane, the first step is always a Discovery Call to explore your requirements, current environment and technology estate, and discuss different solutions.
Streamline your contract management and minimise risk with our CLM services
Contract Lifecycle Management (CLM) helps you streamline and automate your contract management tasks. This includes drafting, negotiation, execution, renewal and archiving of contracts. By using a CLM platform you have a centralised and secure location to store and manage all of your contracts, improving the efficiency and effectiveness of your contract management process.
CLM for Law Firms
Law firms can provide their corporate clients with contract lifecycle management services by working with Wycane Legal Transformation. We can deliver a fully supported white label service that enables law firms to offer an end-to-end contract management solution to their clients.
Our white label service allows law firms to offer contract management services under their own brand, providing them with an additional revenue stream and differentiating themselves in the marketplace. Our market-leading platform is highly customisable, allowing law firms to tailor the software to meet their clients' specific needs and requirements. The platform is also fully compliant with all relevant regulations, ensuring that clients' contracts are handled securely and in compliance with local laws.
By working with Wycane Legal Transformation and our trusted technology partners, law firms can provide their clients with a comprehensive contract management solution that streamlines their legal operations, improves efficiency, and increases revenue.
Benefits of Contract Lifecycle Management
Reduce risk
A centralised repository for all contracts makes it easy to review them to ensure compliance with legal and regulatory requirements. CLM platforms also automate contract renewal and expiration notifications, to avoid any unintentional contract breaches or lapses.
Better collaboration
CLM platforms improve collaboration and communication during the negotiation process. A shared and transparent platform for drafting, redlining, commenting, and tracking contracts, makes it easy to keep all parties informed and on the same page, reducing misunderstandings and inconsistencies.
Improved productivity and efficiency
By automating and streamlining contract-related tasks you can reduce time spent on these activities so you can get more done, delegate more responsibilities to non-legal staff and spend more time on value-add tasks.
Better visibility
CLM provides a clear and transparent view of the entire contract lifecycle, making it easier to track contract progress and identify potential issues before they become a problem.
Improved compliance
By standardising the method deployed for creating and approving contracts, and the inconsistencies that can creep in when humans manage this process, you can improve compliance with internal policies and external regulations.
Better decision making
With increased visibility and easy access to contract data for analysis, tracking and reporting, you can make more informed decisions related to contract performance, renewal and other important matters.
Reduced costs
By minimising the need for manual tasks, reducing errors and oversights, and by providing better visibility into the contracts and the performance you can save money. Non-legal staff can also manage more tasks for you, freeing up your more expensive qualified lawyers to focus on value-add activities where their contribution has a greater impact on the business and bottom line.