Guide to your CLM Demo
Here’s a quick on how to schedule a contract lifecycle management (CLM) and what to look for while checking out a CLM application
What is contract lifecycle management software?
Contract lifecycle management (CLM) software is a type of software that automates and streamlines the management of contracts throughout their lifecycle, from creation to renewal or expiration. A CLM software typically provides tools for creating, negotiating, executing, and managing contracts, as well as tracking key milestones, deadlines, and obligations.
What is a contract management software demo?
During a contract management software demo, the CLM demo will understand your pain points and current contracting operations and give you relevant examples to show you how CLM tool can streamline your current contracting operations.This guided demo walks you through all the features of the CLM software and explores how those features could help you automate, digitize & track all your legal contracts.
Demos are also a great place to ask for any questions you might have about the application and usability of the Contract Management Software. Implementing a new tool can be a daunting task, so its advised to ask many questions about the features, implementation timeline, integration with other platforms, pricing & more.
Overall, the demos are meant to explain the tool and how it can add value to your current business operations.
Who should attend a CLM demo?
A contract management software demo should involve all the key stakeholders who would be using this software. A CLM tool is mainly used by business team members who generate a contract request and legal team members who review the agreements, send them out for review, and sign them. All stakeholders who are currently involved in the contracting process of a company should attend this demo, to help get familiar with the software and ask any relevant questions they may have in regards to its functionality.
Every stakeholder would have different pain points and needs, so it’s imperative to have them all attend this demonstration to get their buy-in for this tool and clear any doubts they may have about this software. A sales team member would like to accelerate the contracting process, while a finance team member would demand more financial visibility into the contracts. Legal team members would want more efficient ways to manage and track their contracts with standardizations and procurement teams would want more insights into vendor performance against contract deliverables.
Hence, it is important to have all relevant stakeholders, who manage contracts on a day-to-day basis, involved in the contract management software demo. They will be using this tool daily and need to understand how this software can solve their problems.
How to prepare for a CLM demo
A contract management software demo should involve all the key stakeholders who would be using this software. A CLM tool is mainly used by business team members who generate a contract request and legal team members who review the agreements, send them out for review, and sign them. All stakeholders who are currently involved in the contracting process of a company should attend this demo, to help get familiar with the software and ask any relevant questions they may in regards to its functionality.
Every stakeholder would have different pain points and needs, so it is imperative to have them all attend this demonstration to get their buy-in for this tool and clear any doubts they may have about this software. A sales team member would like to accelerate the contracting process, while a finance team member would demand more financial visibility into the contracts. Legal team members would want more efficient ways to manage and track their contracts with standardizations and procurement teams would want more insights into vendor performance against contract deliverables..
Hence, it is important to have all relevant stakeholders ,who manage contracts on a day-to-day basis, involved in the contract management software demo. They will be using this tool daily and need to understand how this software can solve their problems.
Ease of Use:
Consider the software’s user interface and ease of use. The software should be intuitive and easy to navigate, even for non-technical users. Look for software that has a clean and organized interface that allows you to quickly access the information you need. A user-friendly tool can help users easily get acclimated to this application and get started quickly
Understand your current needs
The most important thing to know when attending a CLM demo is to understand why you are looking for a CLM tool and what problems you are trying solve with this new application.
Are you looking automated contract drafting? Do you want improved visibility into all your contracts? Are you struggling to track of all your contracts and stay on top of all renewals?
Understanding your current needs will help you effectively evaluate the CLM tool and explore the relevant features that will solve your biggest problems. Most AI Contract Management application offer a variety of features, hence, properly understanding your needs will make the demo a smooth tailored experience that address your current pain points.
Prepare a list of questions:
Create a list of questions to ask the vendor during the demo. The questions should cover the software’s features, functionalities, ease of use, and the vendor’s support and pricing model. Implementing legal tech tools can be a complicated process, therefore, creating a questionnaire can help you understand how this CLM tool can help you optimize your operations.
Invite stakeholders:
Invite the stakeholders who will be involved in the contract management process to attend the demo. This will help them to evaluate the software’s suitability for their needs and provide feedback. Every stakeholder has different needs and having them on this call will help them understand how this CLM software to improve their day-to-day activities.
Evaluate user interface:
User interface and experience are some of the most important aspects of a software. They can help you accelerate user adoption and improve buy-in from all relevant stakeholders. Evaluate the software’s user interface to ensure it is intuitive and easy to use. Consider how the software presents contract data, how easy it is to search for specific contracts, and how it presents contract analytics. Great user experience can make the transition process seamless while unintuitive UI/UX can prolong the implementation process.
What to do post CLM demo
Consider pricing
One of the most important aspects to consider while evaluating a Contract Lifecycle Management tool is the cost of the software. Enterprise-grade CLM applications can be extremely expensive while extremely cheap CLM solutions do not have all the features required to streamline the contracting process. Ask your vendor for various pricing options based on several users, integrations & more. A good CLM vendor would be considerate of your budgeting constraints and tailor the pricing to meet your expectations.
Get feedback
Gather feedback from other stakeholders who attended the demo, such as department heads or end-users who will interact with the software. This feedback can help you make an informed decision on whether or not to move forward with the software. Understand with all the stakeholders if this CLM application streamlines their current day-to-day operations and if they find the user interface intuitive enough to use it daily.
Implementation time
Consider the implementation time of the contract lifecycle management tool. Prolonged implementation cycles can be extremely complicated, while a quick simplified process can streamline your contracting operation in 2-3 weeks. Understand how the software will be rolled out to your organization, who will be responsible for the implementation, and what training and support will be needed. Volody’s easy-to-use CLM software can be implemented in less than 3 weeks, allowing teams to optimize their contracting operations quickly.
FAQs for CLM Demo
Why should I prepare for a CLM demo?
Preparing for a contract management software demo is crucial as it allows you to fully grasp the software’s capabilities and how it aligns with your organization’s needs. Adequate preparation ensures that you can ask targeted questions and make an informed decision about its potential benefits.
What are the benefits of attending a CLM demo?
Attending a contract management software demo offers several benefits. It allows you to visualize how the software functions, understand its features and assess how it can enhance your contract management processes. Furthermore, it provides an opportunity to interact with experts, address concerns, and make an educated choice.
How long does a typical CLM software demo last?
A standard contract management software demo usually lasts around 45 minutes to an hour. The duration is designed to give you a comprehensive overview of the software’s key aspects without consuming too much of your valuable time.
What topics are usually covered during a CLM software demo?
One of the most important aspects to consider while evaluating a Contract Lifecycle Management tool is the cost of the software. Enterprise-grade CLM applications can be extremely expensive while extremely cheap CLM solutions do not have all the features required to streamline the contracting process. Ask your vendor for various pricing options based on several users, integrations & more. A good CLM vendor would be considerate of your budgeting constraints and tailor the pricing to meet your expectations.
Is there any cost associated with attending a CLM software demo?
No, attending a contract management software demo is typically free of charge. It’s a valuable opportunity provided by the software provider to showcase their product’s features and benefits to potential users.
How can I schedule a CLM demo?
Scheduling a contract management software demo is easy. You can usually reach out to the software provider through their website or contact information and request a demo. They will then coordinate with you to find a suitable time for the session.
What happens after the CLM demo? What are the next steps?
After the demo, the next steps typically involve evaluating the software’s fit for your organization, discussing pricing and implementation details with the provider, and making an informed decision. Reach out to the provider to initiate these post-demo discussions.
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