DUBLIN, Dec. 1, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/27zplx/global_contract) has announced the addition of the "Global Contract Life-Cycle Management Market 2015-2019" report to their offering.
A cloud-based CLM solution offers an easy-to-use interface, which is familiar to most users. In addition, as it uses a web-enabled editor, companies can customize templates as per their requirements. These templates ensure that sales users create consistent contracts, and thus help the companies present a professional image to clients.
Cloud-based CLM also enables dynamic workflow approvals. For instance, some contracts include non-standard terms and conditions. These will be automatically routed to select approvers such as legal or finance managers for further amendments. The CLM process ensures that contracts meet the required standards before coming up with the final version.
According to the report, the deployment of CLM software will enable lawyers to view documents virtually in any format, including Word, Powerpoint, image, and Excel, and pull up similar contracts from a library for reference. This is essential from the lawyers' perspective, as it reduces their review times and the contract cycle times considerably. Also, CLM solutions streamline the entire CLM process and enable companies to identify loopholes in the system, which results in huge cost savings. Based on these factors, the report predicts that the global CLM market will register healthy growth globally.
Tthe global CLM market is projected to grow at a CAGR of 16.35% over the period 2014-2019.
However, the report states that the supply and demand gap of skilled talent is hampering the market growth.
Key questions answered in this report:
Key vendors:
Other prominent vendors:
For more information visit http://www.researchandmarkets.com/research/27zplx/global_contract
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