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In-House Legal Tip: Only Implement a CLMS when Ready!
In-House Performance Tip
1 min • 03 Jul 23
“The CLM and MLMS are the ultimate expressions of “tech-based force multiplication”. So, you need to be very clear on whether your existing contracting process is worth multiplying.”
Matthew Glynn – GLS Group
Document and optimize your contract lifecycle management procedures first and then find a CLMS system that can support it.
Nothing is more perilous to your in-house transformation efforts than trying to “buy efficiency” with a new contract lifecycle management system (“CLMS”).
A CLMS merely force multiply what should work well offline – but which could benefit from increased scalability, execution speed, and data insights.
The vast majority of CLM implementations tend to miss the mark because the in-house customer seeks to buy in a solution instead of precisely defining the CLMS scenarios required for their ecosystem and then sourcing a CLMS solution that can meet those requirements.
This week we will have much more to say on this issue, including how it pertains to the Matter Lifecycle Management requirements of in-house legal teams.
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