Actionable Analytics: The IT Factor for SMART Contract Lifecycle Management
Top Ten KPIs of CLM and Why they Matter
Contracts are valuable assets to your organization. They define the products, solutions and services you offer to your customers and govern the means in which you conduct business with your channel partners. Contracts contain incredible insights to factors that impact the monetization of business performance across the enterprise. And once a contract is signed, its journey within the organization is actually just beginning.
Contracting needs to be SMART, and contract processes and terms should be measured against Key Performance Indicators (KPIs) to ensure they are achieving excellence within three fundamental ROI justification areas:
- Tactical results pertaining to contract management process efficiencies
- Effectiveness and performance outcomes from contract terms
- Potential costly impacts to risks and compliance
Model N has outlined a Top 10 List of KPIs to monitor and benchmark against throughout the CLM processes – both pre and post execution. Learn how KPIs empower contract managers, as well as legal, sales, financial and channel operations teams to improve overall contract management efficiencies and impact business performance.
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