Contract Lifecycle Management
Contract Lifecycle Management (CLM) systems are designed to assist companies in the various stages of contracting, from initial drafting and review, to contract approval and signing, to storage and retrieval of executed contracts. Some CLM systems offer the ability to search contracts for certain values, or to conduct certain kinds of contract analysis such as when a contract is up for renewal.
CLM doesn’t understand document content, and requires lengthy setup and process changes
Unfortunately, CLM solutions are primarily focused on the contracting workflow process, and offer only limited insight into the actual contents of the contracts. Many CLM systems also require significant setup and training, and some require significant changes in business tools and processes.
Don’t just manage your contract workflows, use contract data to drive your business
Docugami’s Document Engineering goes far beyond what any CLM system can offer. Docugami’s sophisticated AI understands the content of your contracts, turning every element in every contract into data that can then be used to drive your business in myriad ways.
Docugami provides immediate value for business users
Best of all, Docugami works with your existing tools and systems, and provides immediate value for frontline workers and managers on Day One, without any IT development, or training needed.
Already have a CLM system? Docugami can make it better
And if you already have a CLM system, Docugami can integrate seamlessly to improve efficiency, insight, and automation.
Understand the difference between contract lifecycle management and document engineering with our comparison guide
Docugami vs. CLM
CLM systems were designed to improve contracting workflows - to make it easier and more efficient to create contracts, route them to all the people for review, track changs, and shepherd them all the way to approval and signature. That's fine, as far as it goes, but pretty limited.
Wouldn't it be better to have access to 100% of all the information in 100% of your contracts, at all times, and use that information to help drive every aspect of your business?
Docugami's Document Engineering turns long-form documents into data automatically, to provide greater strategic insights, efficiency, precision, and compliance. And if you already have a CRM system, Docugami will make it infinitely better.
Impact on Day One
Docugami doesn't require any IT setup or specialized training. Just upload documents and go. You'll see value on Day One. And if you already have a CLM system, Docugami will integrate seamlessly, providing deep insights into your documents without manual processing or setup time.
Find / Load The Metadata
Too often CLM systems fall down due to users not always providing proper metadata. Let Docugami find the metadata, and import it.
No Data Analysis Constraints
To the extent CLM systems provide contract search or contract analysis, it tends to focus on pre-defined terms. Real life in business is rarely pre-defined. Docugami's sophisticated AI identifies and understands ALL the information in EVERY document, so you can pursue the analysis you need.
Put Your Best Practices to Good Use
A CLM system may allow setting up a clause library of sections beforehand, but it can be cumbersome and limiting. Docugami builds a library automatically from your agreements and puts them at your fingertips, helping you create new documents more efficiently and with greater compliance.
Your Business, Your Choices
Your business is unique, and your decisions are your own. Standards culled from other companies or other sectors don't make sense for your unique circumstances and negotiations. Docugami understands your 'Small Data' of previously agreed terms, to provide truly relevant assistance in drafting, reviewing, and analyzing contracts.
Create New Documents Your Way
Why change your workflow? Just use your preferred document creation software like MS Word, and Docugami assists you with all the information about when and how you've used alternative contract language. Your own contracting history and best practices are at your fingertips. Your document creation is in your own familiar tools, no new tools to learn or outside templates required.