Cloud-based Contract Lifecycle Management (CLM) Platform
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A Cloud-based Contract Lifecycle Management (CLM) Platform is a CLM platform that operates on a cloud computing infrastructure.
- Context:
- It can (typically) provide a centralized digital environment for managing the lifecycle of contracts, including creation, execution, and analysis.
- It can (often) offer features like automated workflow, electronic signatures, contract repository, and analytics tools.
- It can (often) enhance collaboration by allowing multiple stakeholders to access, modify, and manage contracts from different locations.
- It can (typically) offer higher scalability and flexibility compared to on-premises solutions, adapting to varying business needs.
- It can (often) include advanced security measures to protect sensitive contract data, complying with various data protection regulations.
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- Example(s):
- DocuSign Agreement Cloud: A popular cloud-based CLM platform that offers electronic signature, contract automation, and lifecycle management tools.
- SAP Ariba Contracts: This platform provides comprehensive contract management capabilities in a cloud-based environment, including procurement and sourcing contracts.
- Icertis Contract Management: Known for its AI capabilities, this platform helps in optimizing the contract lifecycle on a cloud infrastructure.
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- Counter-Example(s):
- On-Premises CLM Software: A CLM solution that is installed and runs on the company's own servers and infrastructure.
- Document Management System: While it can store contracts, it does not typically provide comprehensive lifecycle management features.
See: Contract Management, Cloud Computing, Software as a Service (SaaS).